Gold prices slip

By Dat Nguyen   October 16, 2023 | 08:33 pm PT
Gold prices slip
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 VND70.15 million ($2,865.20) per tael Tuesday morning.

Gold ring price was stable at VND57.8 million per tael. A tael equals 37.5 grams or 1.2 ounces.

Globally, gold prices fell on Tuesday as the U.S. dollar and Treasury yields firmed, ahead of economic data and Federal Reserve Chair Jerome Powell’s speech this week, which could steer upcoming interest rate decisions, Reuters reported.

Spot gold dropped 0.3% to $1,913.90 per ounce by 0326 GMT, and U.S. gold futures fell 0.4% to $1,925.80.

U.S. Treasury yields rose to their highest in more than a week, and the dollar also gained, making non-yielding bullion expensive for other currency holders, ahead of U.S. retail sales and industrial production later in the day.

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