Gold prices slip

By Dat Nguyen   June 4, 2023 | 06:52 pm PT
Gold prices slip
A person touches gold jewelry at a shop in Ho Chi Minh City. Photo by VnExpress/Quynh Tran
SJC gold price fell 0.07% to VND67 million ($2,850.46) per tael Monday morning.

Gold ring price dropped 0.09% to VND56.45 million per tael. A tael equals 37.5 grams or 1.2 ounces.

Globally gold prices edged lower on Monday as the dollar firmed on strong U.S. payrolls report, offsetting support from the prospects that the Federal Reserve would pause its rate hikes this month, Reuters reported.

Spot gold was down 0.1% at $1,945.66 per ounce. U.S. gold futures fell 0.3% to $1,963.10.

The dollar index rose 0.2%, making greenback-priced bullion less affordable for overseas buyers.

Gold prices slipped more than 1% on Friday after data showed U.S. nonfarm payrolls rose by 339,000 jobs last month, much higher than an increase of 190,000 forecast by economists polled by Reuters. But the unemployment rate surged to a seven-month high of 3.7%.

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