Gold prices drop - VnExpress International

AI desk brief

Gold prices were mixed but broadly firmer: Saigon Gold Jewelry Co. cut domestic bar prices 0.35% to VND143.1 million/tael ($5,522.76) and ring prices 0.56% to VND142.3 million/tael, while spot gold rose 0.3% to $4,175.60/oz and December futures gained 0.4% to $4,196.40. The near-term support cited is softer oil prices, which ease inflation concerns and improve the backdrop for gold despite lingering uncertainty over a possible Fed hike later this year.

KCM Trade’s Tim Waterer said a sustained decline in oil or a clearer move lower in yields would be the most constructive catalysts, as both would reduce inflation and rate pressure.