Gold price decline - e.vnexpress.net

AI desk brief

Gold eased on Monday as stronger U.S. jobs data and firmer rate expectations pressured bullion, with spot gold down 0.5% at $4,405.47/oz and December U.S. futures off 0.5% at $4,452.20/oz. In Vietnam, Saigon Jewelry Company’s gold bar price opened the week 0.4% lower at VND147 million/tael, while gold rings slipped to VND146.5 million/tael.

Reuters cited Tim Waterer of KCM Trade as saying the jobs surprise added pressure but was not enough on its own to lock in a September Fed hike; the market is now focused on this week’s U.S. CPI release for confirmation of the policy path. Waterer said a strong inflation print would reinforce hike expectations, push yields higher and weigh further on gold.

Near term, the setup is still macro-led: stronger U.S. data and higher real yields remain the main downside risk for gold, while a softer CPI could quickly revive safe-haven and inflation-hedge demand. The key catalyst is the U.S. inflation print later this week, which should determine whether bullion extends the current pullback or stabilizes above the $4,400/oz area.