Gold prices continue to fall

By Ngan Anh November 5, 2023 | 08:59 pm PT

Gold bars and coins are stacked in the safe deposit boxes room of the Pro Aurum gold house in Munich, Germany, Aug. 14, 2019. Photo by Reuters

SJC gold price dropped 1.2% to VND69.5 million ($2,847.19) per tael on Monday morning.

Gold ring price gained 0.08% to VND59.9 million per tael. A tael equals 37.5 grams or 1.2 ounces.

Globally, gold prices held steady near the key $2,000-per-ounce level on Monday after weak U.S. jobs data raised hopes that the Federal Reserve is done raising interest rates, sending the dollar and bond yields lower, according to Reuters.

Spot gold was little changed at $1,990.43 per ounce by 0100 GMT and U.S. gold futures were steady at $1,997.60.

SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, said its holdings rose 0.20% to 863.24 tonnes on Friday from 861.51 tonnes on Thursday.