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/barrel. US bond yields reached over 4%, stimulating investors to buy bonds, causing weak purchasing power on gold exchanges.
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 made investors optimistic about the cooling of inflation in the US. 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 been under more downward pressure.
The previous price of SJC gold in Vietnam on October 9 stood 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
![[Maritime News] More than 80% of global container shipping capacity is in the hands of MSC and major shipping alliances](https://vphoto.vietnam.vn/thumb/402x226/vietnam/resource/IMAGE/2025/7/16/6b4d586c984b4cbf8c5680352b9eaeb0)
Comment (0)