Gold prices fall
Vietnam gold prices slipped on Saturday morning as the metal was down for the week.
Gold prices experienced a slight decline on Friday, reversing earlier gains as a stronger dollar and higher US Treasury yields impacted the non-yielding metal. The price of gold fell 0.9% to $4,140.06 per ounce, after initially rising over 1% during the day. This week, gold bars and rings saw a 0.42% and 0.62% decrease respectively, both falling 0.62% on the week.
The metal is on track for a weekly decline, according to Reuters. US gold futures settled 1% lower at $4,162.30. Despite the dollar weakening slightly, it is expected to see a weekly gain, while yields on 10- and 30-year Treasuries reached their highest in over a decade. Gold bug analysts suggest cautious optimism, considering the Federal Reserve's hawkish stance, with a focus on curbing US inflation and its tolerance for labor market weakness.
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