The decline has not stopped yet.

Gold price continues to fall today

After "evaporating" dozens of USD in the previous session, today's gold price, October 10, at 6:00 am was trading at 2,607 USD/ounce, down another 15 USD compared to the same time yesterday at 2,622 USD/ounce.

World gold prices weakened amid the rising value of the US dollar. Crude oil prices weakened, trading around 73.25 USD/barrel. US bond yields reached over 4%, stimulating investors to buy bonds, making purchasing power on gold exchanges weak.

On the other hand, the financial market is waiting for the US to release inflation-related data. 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 increase of 0.2% in August.

Perhaps this data makes investors optimistic about the US inflation cooling down. Therefore, in the trading session last night, many people bought stocks aggressively, helping US stocks increase. Since then, money flowing into the gold market has been limited. Today's gold price has suffered more downward pressure.

The previous SJC gold price in Vietnam on October 9 stood steady at 85 million VND/tael. The price of gold rings fell to 83.1 million VND/tael.

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