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Gold prices decline

Monday, 11/12/2023 | 13:57:37 [GMT +7] A  A

SJC gold price fell 0.27% to VND73.8 million ($3,046.82) per tael Monday morning.

Gold prices decline
A person holds gold jewelry at a shop in Ho Chi Minh City. Photo by VnExpress/Quynh Tran

SJC gold price fell 0.27% to VND73.8 million ($3,046.82) per tael Monday morning.

Gold ring price dropped 0.32% to VND61.55 million per tael. A tael equals 37.5 grams or 1.2 ounces.

During the early hours of trading in Asia on Monday, global gold prices rebounded from their recent declines, as reported by the financial news outlet FXStreet.

The surge in U.S. Treasury yields, fueled by a surprisingly strong U.S. labor market, has reduced investor interest in gold.

But the metal has garnered some buying interest, finding support around its two-week low at $1,995. Gold is now trading around $2,005, marking a modest increase of 0.14% for the day.

Source: VnExpress