Gold prices slip

By Dat Nguyen   December 2, 2022 | 11:35 pm PT
Gold prices slip
A person holds gold bars at a shop in Ho Chi Minh City. Photo by VnExpress/Quynh Tran
Gold price fell 0.37% to VND66.95 million ($2,747.80) per tael Saturday morning.

Gold ring prices dropped 0.09% to VND54.3 million per tael. A tael is equal to 37.5 grams or 1.2 ounces.

Global gold prices slipped on Friday, retreating from a near-four month high, after robust U.S. jobs data fanned concerns that the Federal Reserve might stick with its aggressive monetary policy tightening, Reuters reported.

Spot gold fell 0.4% to $1,794.96 per ounce.

"With the U.S. jobs number coming in much stronger than expected... what we’re seeing is the concern that the Fed may need to go further with their expected interest rate hikes," said David Meger, director of metals trading at High Ridge Future.

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