Gold prices dip
Vietnam's gold bar prices slipped on Wednesday amid a dip in global bullion rates.
Gold prices have seen a slight decline, dropping by 0.2% to VND150.3 million (US$5,760.38) per tael at Saigon Jewelry Company. The price of a gold ring has also decreased to VND149.8 million per tael. Globally, gold experienced a similar downturn, easing 0.3% to $4,642.74 per ounce, following a three-month high in the previous session.
Investors are closely monitoring a key U.S. inflation report to assess the Federal Reserve's interest-rate trajectory. Spot gold prices dipped to their lowest level since mid-May last week, after a significant rise in the previous session due to the U.S. Treasury's bond buyback announcement. According to Wael Makarem, financial markets strategist at Exness, a more favorable outcome for gold would be softer-than-expected inflation and a dovish or balanced message from Federal Reserve Chair Jerome Powell, which could lower real yields and make non-yielding assets less attractive.
However, a renewed decline in confidence regarding the U.S. fiscal situation, especially in light of the recent Treasury buyback plans, may also impact gold prices.
Written by urgent.news from VnExpress Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
