Gold prices hit 4-week low

By Dat Nguyen   November 6, 2023 | 11:32 pm PT
Gold prices hit 4-week low
A person holds gold jewelry at a shop in Ho Chi Minh City. Photo by VnExpress/Quynh Tran
SJC gold price fell 0.72% to VND69.3 million ($2,854.02) per tael Tuesday morning, the lowest since Oct. 7.

Gold ring price dropped 0.42% to VND59.7 million per tael. A tael equals 37.5 grams or 1.2 ounces.

Globally, gold prices eased to a near one-week low on Tuesday as the dollar firmed and safe-haven demand slowed, while investors awaited comments from Federal Reserve officials, including Chair Jerome Powell, for more clarity on the interest rate outlook, Reuters reported.

Spot gold was down 0.2% at $1,972.89 per ounce. U.S. gold futures fell 0.5% to $1,979.50.

The dollar rose 0.1% after hitting a six-week low in the previous session, making gold more expensive for other currency holders.

"At the moment it’s really still a story about geopolitical risk, and the margins of risks would seem to have diminished a little bit in gold and prices are reflecting that," said Kyle Rodda, financial market analyst at

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