Gold prices fall | Asia Retail News
SJC gold bullion prices fell by VND 100,000 (US$4.03) on Saturday from the previous day to VND 67.6 million per tael.
Selling prices for gold rings also fell by VND100,000 to VND54.2 million per tael.
SJC gold prices are higher than the global average by about VND 14.9 million per tael.
Globally, gold prices were set for a weekly decline after officials at the US Federal Reserve said more interest rate hikes were expected as the bank sought to curb inflation.
According to David Megger, director of metals trading at High Ridge Future, gold’s slight pullback after the recent rally was caused by a technical pullback in the gold market.
The pullback could continue until next week’s December option expiration, which could trigger further consolidation in gold, Meagher said, adding that the market as a whole appears to be focused on the Fed’s interest rate expectations.
https://www.retailnews.asia/gold-prices-drop/?utm_source=rss&utm_medium=rss&utm_campaign=gold-prices-drop Gold prices fall | Asia Retail News
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