Fashion
SJC gold price increased 0.07% to VND67.35 million ($2,843.57) per tael Monday morning.
Gold ring price downed 0.08% to VND57.05 million per tael. A tael equals 37.5 grams or 1.2 ounces.
Gold prices were off three-week lows on Monday after slowing U.S. job growth knocked the dollar and bond yields from their recent highs, while investors braced for this week’s inflation test that could influence the Federal Reserve’s policy path.
Spot gold was steady at $1,940.99 per ounce by 0325 GMT, having slid to its lowest since July 11 on Friday before settling 0.4% higher. U.S. gold futures were flat at $1,976.10.
“While a softer U.S. dollar and lower bond yields in its (jobs data) aftermath have provided some relief for gold… it may have to take a more significant weakening in the U.S. dollar to bring traction for the yellow metal,” said Yeap Jun Rong, a market strategist at IG.
