Gold prices fall

By Dat Nguyen   October 4, 2023 | 01:40 am PT
Gold prices fall
Gold jewelry on display at a shop in Ho Chi Minh City. Photo by VnExpress/Quynh Tran
SJC gold price fell 0.07% to VND68.88 million ($2,819) per tael Wednesday afternoon.

Gold ring price dropped 0.18% to VND56.5 million per tael. A tael equals 37.5 grams or 1.2 ounces.

Globally, gold prices headed back towards seven-month lows on Wednesday as the ascending dollar and bond yields after strong U.S. jobs data kept markets expectant of further monetary policy tightening, while palladium slipped to its weakest level since late 2018, Reuters reported.

Spot gold eased 0.2% to $1,819 per, while U.S. gold futures dropped 0.3% to $1,835.50.

Prices fell for a seventh consecutive session on Tuesday to touch their lowest level since March at $1,813.90, as the U.S. dollar strengthened on data showing U.S. job openings unexpectedly increased in August.

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