Gold prices head down

SJC gold price fell 0.63% to VND70.5 million ($2,869.36) per tael Monday afternoon.

SJC gold price fell 0.63% to VND70.5 million ($2,869.36) per tael Monday afternoon.

Gold ring price dropped 0.25% to VND59.65 million per tael. A tael equals 37.5 grams or 1.2 ounces.

Globally gold prices held above the key $2,000 level on Monday, buoyed by safe-haven demand from an escalating Middle East conflict, while investors were on a cautious watch ahead of the U.S. Federal Reserve’s policy meeting later this week, Reuters reported.

Spot gold was down 0.2% at $2,001.37 per ounce. U.S. gold futures climbed 0.6% to $2,011.20.

Gold prices hit $2,009.29 an ounce on Friday, surpassing the key psychological $2,000 level for the first time since mid-May, as investors piled into safe-haven bullion.