DNVN - The trading session on December 5 recorded a decrease in world gold prices, due to the increase in US government bond yields after the weekly unemployment benefit application data was released. In addition, the market is closely monitoring the employment report to assess the policy direction of the US Federal Reserve (Fed) on lowering interest rates.
At 2:03 a.m. on December 6 (Vietnam time), spot gold prices fell 0.7% to $2,630.30/ounce. Meanwhile, US gold futures prices fell 1% to close at $2,648.40/ounce.
The yield on the 10-year US government bond rose 0.3%, while the price of bitcoin surpassed $100,000 for the first time.
The number of new applications for unemployment benefits in the US last week increased slightly, reflecting a cooling trend in the labor market.
Investors are now turning their attention to the US November 2024 jobs report, due on December 6. The data could show that 200,000 jobs were added in the month, compared to just 12,000 jobs the previous month.
On December 4, Fed Chairman Jerome Powell said that the US economy was stronger than expected and emphasized the need for caution when deciding to cut interest rates.
According to forecasts from traders, there is a 70% chance that the Fed will cut interest rates by 25 basis points at its policy meeting on December 17-18.
In the domestic market, on the morning of December 6, Saigon Jewelry Company listed the price of SJC gold bars at 83.00 million VND/tael for buying and 85.50 million VND/tael for selling.
Cao Thong (t/h)
Source: https://doanhnghiepvn.vn/kinh-te/gia-vang-the-gioi-ngay-5-12-giam-do-ap-luc-tu-loi-suat-trai-phieu-my/20241206082213764
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