Gold prices fell sharply today then rebounded; what's going on? - Vietnam.vn

AI desk brief

Gold is under near-term pressure from a stronger dollar, firm U.S. Treasury yields and renewed Fed hike expectations, with Kitco showing spot around $4,184-$4,186/oz, down about $162/oz, or 3.7%, versus 30 days ago. Heraeus said gold closed last week at $4,189/oz, after a $4,067-$4,208/oz range, while the euro price ended at €3,743/oz.

In Vietnam, SJC gold bars swung lower early on Oct. 13 before recovering back to 141.3-144.3 million VND/oz by 4 p.m., while gold rings also rebounded to 140.8-143.8 million VND/oz. Invesco still sees structural support from central bank buying and renewed investor demand for gold-backed ETPs, but warns high bond yields and Q4 volatility could keep bullion capped in the near term.