Gold prices dip

By Dat Nguyen   June 11, 2023 | 08:21 pm PT
Gold prices dip
A person arranges gold jewelry at a shop in Ho Chi Minh City. Photo by VnExpress/Quynh Tran
SJC gold price fell 0.22% to VND67 million ($2,854.10) per tael Monday morning.

Gold ring price was stable at VND56.5 million per tael. A tael equals 37.5 grams or 1.2 ounces.

Globally gold prices dipped on Monday as the U.S. dollar edged higher, and investors positioned for a series of major central bank policy meetings this week, with a likely pause in interest rate hikes by the U.S. Federal Reserve, Reuters reported.

Spot gold fell 0.3% to $1,954.78 per ounce. U.S. gold futures fell 0.4% to $1,969.10.

Markets in Australia were closed on Monday due to a public holiday.

"While the Fed is expected to hold their interest rate, they are unlikely to deliver a dovish undertone required to tempt gold bulls back to the table in a meaningful way," said Matt Simpson, senior market analyst at City Index.

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