Gold price today December 6: US bond yields increase, gold goes down

The world gold price today is listed on Kitco at 2,630 USD/ounce, down 17 USD/ounce compared to early this morning.

Gold prices fell on Friday, pressured by rising U.S. Treasury yields after the release of weekly jobless claims data, which showed the number of Americans filing new claims for unemployment benefits rose moderately last week.

Gold is being held back by a number of factors and the market is looking for further data or stimulus to break out of the current range, said David Meger, director of metals trading at High Ridge Futures.

Investors' attention now turns to the US non- farm payrolls to be released on Friday for more clarity on the path of US interest rates. This data is considered important and is expected to affect the future path of the US Federal Reserve (Fed).

Gold price today decreased. (Photo: Cong Hieu).

Experts predict that about 200,000 jobs will be created last month. This increase is much higher than the 12,000 jobs recorded in October.

Gold price movements today

+ Domestic gold price

At 6:00 a.m. on December 5, the price of gold bars at Doji and SJC was listed at 83 - 85.5 million VND/tael (buy - sell), unchanged from early this morning.

Meanwhile, the price of gold rings is currently listed by Doji at 83.3 - 84.3 million VND/tael, unchanged from early this morning.

+ International gold price

The world gold price listed on Kitco is at 2,630 USD/ounce, down 17 USD/ounce compared to early this morning. Gold futures last traded at 2,631 USD/ounce.

Gold Price Forecast

Han Tan, a market analyst at Exinity Group, said gold prices remain under pressure as the greenback continues to strengthen. He predicted that spot gold could continue to trade in the $2,600-$2,700 range unless upcoming labor market and inflation data significantly alter the likelihood of a Fed rate cut on Dec. 18.

According to CME's FedWatch tool, traders see a 74% chance the Fed will cut rates by 25 basis points at its upcoming policy meeting.

Markets are now focused on comments from Federal Reserve Chairman Jerome Powell, US employment data and the CPI report for clues on the US central bank's policy outlook.

Ngoc Vy

Source: https://vtcnews.vn/gia-vang-hom-nay-6-12-loi-suat-trai-phieu-my-tang-vang-di-xuong-ar911745.html