Gold prices drop - VnExpress International

AI desk brief

Gold eased as a rebound in oil prices revived inflation concerns and bolstered expectations for higher interest rates. Spot gold fell 0.9% to $3,913.62/oz after a more than 2% jump on Monday, while U.S. December futures dropped 1.2% to $3,923.00.

In Vietnam, Saigon Jewelry Company gold bars were quoted at VND140.6 million/tael, up 0.43% from Monday’s close, while gold rings slipped 0.14% to VND139.3 million/tael. Domestic gold prices in Vietnam are still down 8% year-to-date. KCM Trade’s Tim Waterer said gold needs a decisive move back above $4,000 to reestablish momentum.