Gold prices decline

By Dat Nguyen   October 31, 2023 | 12:58 am PT
Gold prices decline
A person holds gold bars at a shop in Ho Chi Minh City. Photo by VnExpress/Quynh Tran
SJC gold price fell 0.07% to VND70.55 million ($2,874.01) per tael Tuesday morning.

Gold ring price dropped 0.08% to VND59.65 million per tael. A tael equals 37.5 grams or 1.2 ounces.

Globally gold eased on Tuesday as investors tracked central bank meetings for insights on global economy and policy outlook, but was poised for its biggest monthly jump in almost a year as the Israel-Hamas war unfolded, Reuters reported.

Spot gold was down 0.2% to $1,992.79 per ounce. U.S. gold futures eased 0.2% to $2,002.10.

Spot gold had advanced to as high as $2,009.29 on Friday as investors bolted for safety amid the Middle East crisis.

The rush spurred gold from $1,809.50 on Oct. 6, a day before Hamas’ attack on Israel, and set bullion on track for an 8% rise this month, the most since November 2022.

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