Gold prices gain

By Dat Nguyen   October 4, 2023 | 08:27 pm PT
Gold prices gain
A person holds gold jewelry at a shop in Ho Chi Minh City. Photo by VnExpress/Quynh Tran
SJC gold price rose 0.07% to VND68.93 million ($2,824.42) per tael Thursday morning.

Gold ring price gained 0.09% to VND56.55 million per tael. A tael equals 37.5 grams or 1.2 ounces.

Globally, gold prices edged up on Thursday, getting a reprieve after declining in the previous eight consecutive sessions, as U.S. bond yields and the dollar stepped back from highs ahead of a keenly awaited non-farm payrolls report this week, Reuters reported.

Spot gold was up 0.2% to $1,823.79 per ounce, attempting a rebound from its weakest levels since March which it touched on Tuesday. U.S. gold futures rose 0.2% to $1,838.20.

Benchmark U.S. 10-year bond yields fell from 16-year highs and the U.S. dollar was 0.1% lower.

A broad selloff in world government bonds on Wednesday drove up U.S. 30-year Treasury yields to 5% for the first time since 2007 and German 10-year yields to 3%, which could hasten a global slowdown and hurt stocks and corporate bonds.

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