The downward trend has not stopped.

Gold prices continued to fall today.

After losing tens of dollars in the previous session, the price of gold today, October 10th, at 6 AM was trading at $2,607 per ounce, a further decrease of $15 compared to the price of $2,622 per ounce at the same time yesterday.

Global gold prices weakened amid a strengthening US dollar. Crude oil prices also declined, trading around $73.25 per barrel. US bond yields rose above 4%, encouraging investors to buy bonds, resulting in weak demand on gold markets.

On the other hand, financial markets are awaiting the release of inflation-related data from the US. Accordingly, in September 2024, the consumer price index (CPI) is forecast to increase by 2.3%, 0.2 percentage points lower than the previous month's increase of 2.5%; the producer price index (PPI) is forecast to increase by 0.1%, lower than the August increase of 0.2%.

Perhaps this data has led investors to be optimistic about cooling inflation in the US. Therefore, during last night's trading session, many people aggressively bought stocks, helping US stocks rise. As a result, money flowing into the gold market has been limited. Gold prices are now facing further downward pressure.

The price of SJC gold in Vietnam remained stable at 85 million VND/ounce on October 9th. The price of gold rings fell to 83.1 million VND/ounce.

Source: https://nld.com.vn/gia-vang-hom-nay-10-10-da-giam-chua-dung-lai-196241010062002912.htm