Gold prices rise - e.vnexpress.net

AI desk brief

Saigon Jewelry Company raised Vietnam gold bar prices 0.14% to VND146.2 million/tael, while ring gold rose to VND145.7 million/tael. Globally, spot gold fell 0.3% to $4,334.31/oz and U.S. gold futures dropped 0.8% to $4,375.00 as a surge in oil prices lifted inflation fears and reinforced expectations for a Fed rate hike this week.

KCM Trade’s Tim Waterer said rising energy prices and climbing rate expectations ahead of the Fed and BoJ meetings are creating a clear yield headwind for gold. Last week’s U.S. inflation data, including a faster August CPI and a larger increase in core inflation, further supported the market’s view that the Fed may tighten again, pressuring non-yielding bullion.