Gold prices decrease

By Dat Nguyen   February 2, 2024 | 10:00 pm PT
Gold prices decrease
A person holds gold jewelry at a shop in Ho Chi Minh City. Photo by VnExpress/Quynh Tran
Saigon Jewelry Company gold bar price fell 0.25% to VND78.25 million ($3,213.56) per tael Saturday morning.

Gold ring price dropped 0.16% to VND64.4 million per tael. A tael equals 37.5 grams or 1.2 ounces.

Globally gold prices slipped on Friday as the dollar and yields jumped after a strong U.S. nonfarm payrolls report which created some uncertainty about whether the Federal Reserve might start cutting interest rates soon, Reuters reported.

Spot gold was down 0.8% at $2,038.59 per ounce at 01:45 p.m., but prices were up nearly 1% for the week and have held above the key $2,000 level since the start of the year.

U.S. gold futures settled 0.8% lower at $2053.7.

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