Gold prices decline

By Dat Nguyen   December 5, 2023 | 11:00 pm PT
Gold prices decline
A person holds gold jewelry at a shop in Ho Chi Minh City. Photo by VnExpress/Quynh Tran
SJC gold price fell 0.13% to VND74.3 million ($3,059.82) per tael Wednesday morning.

Gold ring price dropped 0.48% to VND61.95 million per tael. A tael equals 37.5 grams or 1.2 ounces.

Gold loses momentum during the early Asian session on Wednesday. The renewed U.S. Dollar demand drag the yellow metal lower. Meanwhile, the U.S. Dollar Index rebounds to 104.00, according to financial new platform FXStreet.

Gold price rose 0.01% to $2020. The pullback from peak levels has been considerable, as the price of gold has fallen by more than $100. Yet, it seems there is still room for further decline, even though some technical measures indicate it is being excessively sold, it added.

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