Gold prices continue to fall
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SJC gold price dropped 1.2% to VND69.5 million ($2,847.19) per tael on Monday morning.
Gold ring price gained 0.08% to VND59.9 million per tael. A tael equals 37.5 grams or 1.2 ounces.
Globally, gold prices held steady near the key $2,000-per-ounce level on Monday after weak U.S. jobs data raised hopes that the Federal Reserve is done raising interest rates, sending the dollar and bond yields lower.
Spot gold was little changed at $1,990.43 per ounce by 0100 GMT and U.S. gold futures were steady at $1,997.60.
SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, said its holdings rose 0.20% to 863.24 tonnes on Friday from 861.51 tonnes on Thursday.
Questions & Answers
Q.How did the price of SJC gold change on Monday morning?
How did the price of SJC gold change on Monday morning?
SJC gold price dropped by 1.2% on Monday morning. It reached VND69.5 million ($2,847.19) per tael. This shows a decrease in value for this specific type of gold.
Q.What was the global price of spot gold on Monday?
What was the global price of spot gold on Monday?
Globally, spot gold was little changed at $1,990.43 per ounce by 0100 GMT on Monday. This was near the $2,000-per-ounce level, influenced by U.S. Jobs data.
Q.Why did global gold prices remain steady on Monday?
Why did global gold prices remain steady on Monday?
Global gold prices held steady after weak U.S. Jobs data. This raised hopes that the Federal Reserve had finished raising interest rates, which sent the dollar and bond yields lower.
Q.Did the holdings of the world’s largest gold-backed ETF change recently?
Did the holdings of the world’s largest gold-backed ETF change recently?
Yes, SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, saw its holdings rise. They increased by 0.20% to 863.24 tonnes on Friday, up from 861.51 tonnes on Thursday.
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