Gold prices decrease

By Dat Nguyen   September 13, 2023 | 10:48 pm PT
Gold prices decrease
A person holds gold jewelry at a shop in Ho Chi Minh City. Photo by VnExpress/Quynh Tran
SJC gold price dropped 0.22% to VND68.6 million ($2,835.71) per tael Thursday morning.

Gold ring price gained 0.09% to VND57.2 million per tael. A tael equals 37.5 grams or 1.2 ounces.

Globally gold prices crawled higher on Thursday from nearly three-week lows touched in the previous session as the dollar and Treasury yields weakened after the U.S. inflation data cemented the case for a Federal Reserve rate pause next week, Reuters reported.

Spot gold added 0.2% to $1,909.21 per ounce by 0318 GMT, having hit its lowest level since August 25 on Wednesday at $1,905.10. U.S. gold futures were down 0.1% at $1,930.80.

The U.S. dollar index and 10-year Treasury yields eased after a mixed report from the Labor Department on Wednesday showed that the annual rise in underlying inflation was the smallest in nearly two years, suggesting a Fed rate pause next week.

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