Gold prices inch down
SJC gold price dropped 0.15% to VND67.3 million ($2,865.05) per tael Monday morning. Gold ring price went up 0.46% to VND54.8 million per tael. A tael equals 37.5 grams or 1.2 ounces.
Reuters reported that global gold prices hit a more than four-week low on Monday, as the U.S. dollar firmed after stronger-than-expected jobs data fanned concerns that the Federal Reserve might keep hiking interest rates.
Spot gold was little changed at $1,865.88 per ounce, as of 0045 GMT, after hitting its lowest level since January 6 earlier in the session.
The dollar index was 0.2% higher, making gold less attractive for buyers holding other currencies.
Data on Friday showed U.S. job growth accelerated sharply last month, with nonfarm payrolls surging by 517,000 jobs – well above an estimated 185,000. The unemployment rate hit more than a 53-1/2-year low of 3.4%.