Gold prices today, October 22nd: Has the price of gold hit rock bottom? - Vietnam.vn

AI desk brief

Gold is trading around $4,122-$4,129/oz, down about $219/oz or 5.9% over the past 30 days, with UBS flagging buying interest emerging below $4,100/oz and calling the market a consolidation phase. Domestic Vietnam prices also eased, with SJC bars at 139.3-142.3 million VND/oz and SJC rings at 137.4-140.9 million VND/oz, both down 300,000 VND from the start of the prior morning.

The macro backdrop remains mixed: US September CPI rose 3.7% y/y, producer prices 6.3%, and the 10-year Treasury yield is around 5.1%, while the dollar weakened slightly. Markets are pricing an 82.8% chance the Fed leaves rates unchanged on Oct. 27-28, but an 88% probability of a December hike; analysts cited by Reuters say the market still leans toward one more 25 bp move this year, likely in December, while Middle East tensions continue to cap upside and support safe-haven demand.