Gold prices drop

By Dat Nguyen   June 2, 2023 | 09:50 pm PT
Gold prices drop
A person holds gold jewelry at a shop in Ho Chi Minh City. Photo by VnExpress/Quynh Tran
SJC gold price fell 0.07% to VND66.95 million ($2,851.06) per tael Saturday morning.

Gold ring price dropped 0.26% to VND56.5 million per tael. A tael equals 37.5 grams or 1.2 ounces.

Globally gold slipped on Friday as hotter-than-expected U.S. jobs data lifted Treasury yields, but was on track for a weekly gain as a higher unemployment reading kept alive hopes that the Federal Reserve would pause interest rate hikes, Reuters reported.

Spot gold was down 1.4% at $1,951.13 per ounce after hitting a seven-session high earlier. U.S. gold futures settled 1.3% higher at $1,969.6.

Bullion has gained 0.2% so far this week, and is set to break a three-week losing streak.

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