A person arranges gold jewelry in a store in Ho Chi Minh City. Photo by VnExpress/Quynh Tran
The SJC gold price fell 0.07 percent to VND70.35 million ($2,867.33) per tael on Saturday, the lowest since October 25.
The price of the gold ring increased by 0.08% to 59.85 million VND per tael. One tael is equal to 37.5 grams or 1.2 ounces.
Globally, gold prices rose on Friday as the U.S. dollar and Treasury yields fell after weak U.S. jobs data reinforced expectations that the Federal Reserve would no more raising interest rates. Reuters reported.
Spot gold rose 0.4% to $1,994.28 an ounce after hitting a high of $2,003.69. U.S. gold futures rose 0.3% to $1,999.2.
Higher rates increase the opportunity cost of holding zero-yielding bullion.
Adding to gold’s shine, the dollar index fell 1% and benchmark 10-year U.S. Treasury yields fell to their lowest level in more than a month after the data was released.
