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Gold prices plunge globally amid rising US yields and strong dollar
Global gold prices have experienced a significant downturn, with spot gold falling toward multi-week lows. In the international market, prices dropped sharply, reaching levels near $4,111 to $4,130 per ounce in various sessions. This decline is attributed to rising US Treasury yields and a strengthening US dollar, which reduce the appeal of non-yielding precious metals.
In Vietnam, domestic gold prices, including SJC gold bars and ring gold, saw deep reductions of several million VND per tael. Some investors who purchased at previous peaks reported losses of up to 52 million VND per tael. Similarly, in India, gold prices tumbled by approximately Rs 2,600 per 10 grams due to rising crude oil rates and a firm US dollar.
Market analysts suggest that expectations of the Federal Reserve maintaining high interest rates to combat inflation are driving the current volatility. Investors are closely monitoring upcoming US economic data, including consumer confidence and employment reports, to gauge future monetary policy shifts.
Entities
Doji · Federal Reserve · Gold · Kitco · Kitco News · PNJ · SJC · United States · Vietcombank · Vietnam · Wall Street
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 4 SOURCES] SJC gold bar prices decreased by 1 million VND per tael
- [○ 1 SOURCE] Wall Street analysts are divided on the short-term outlook for gold
- [DISPUTED] The US 10-year Treasury yield rose to 5.20%. baohatinh.vn
- [○ 1 SOURCE] Gold prices fell by 0.74% in 24 hours to 4,254.86 USD per ounce baogialai.com.vn
- [○ 1 SOURCE] DOJI gold ring prices dropped by 1.3 million VND per tael
- [○ 1 SOURCE] US public debt has exceeded 40 trillion USD
- [● 4 SOURCES] SJC gold bar buy/sell prices were 140.4 million and 143.4 million VND per tael
- [● 2 SOURCES] International gold prices fell by approximately 68 USD per ounce
- [● 2 SOURCES] SJC, DOJI, PNJ, Phú Quý, and Bảo Tín Minh Châu listed SJC gold bars at 138-141 million VND per tael (buy-sell). baogialai.com.vn · baophutho.vn
- [● 2 SOURCES] SJC gold bar prices decreased by 2.4 million VND per tael in both buying and selling directions compared to the previous session. baophutho.vn · baogialai.com.vn
- [● 2 SOURCES] Brent crude oil prices rose after US President Donald Trump rejected a peace proposal proposed by Iran. baohatinh.vn
- [○ 1 SOURCE] International gold prices were recorded at 4,126 USD per ounce, a decrease of 91 USD compared to the same time yesterday. baophutho.vn