Gold prices lose growth momentum

By Dat Nguyen   October 15, 2023 | 08:24 pm PT
Gold prices lose growth momentum
A person holds gold jewelry at a shop in Ho Chi Minh City. Photo by VnExpress/Quynh Tran
SJC gold price fell 0.21% to VND70.55 million ($2,884.78) per tael Monday morning.

Gold ring price dropped 0.34% to VND57.95 million per tael. A tael equals 37.5 grams or 1.2 ounces.

Globally gold prices slid on Monday after hitting a near one-month high earlier, as escalating fears of the conflict between Israel and group Hamas boosted safe-haven bullion more than 3% higher in the last session, Reuters reported.

Spot gold fell 0.5% to $1,921.69 per ounce and U.S. gold futures dropped 0.4% to $1,934.40.

Gold, which is seen as a safe investment during uncertain times, hit its highest since Sept. 20 at $1,934.82 earlier in the session, after surging 3.4% on Friday in its biggest one-day rise in seven months.

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