Gold price today 9-5: Started to decrease after a series of strong increases

(NLDO) - After many consecutive days of strong increases, today's gold price (September 5) has begun to cool down as investors increased their selling to take profits.

Gold price today reversed down

At 6:00 a.m. this morning (Vietnam time), the international gold price today was trading at 3,541 USD/ounce, down 22 USD compared to the same time yesterday (3,563 USD/ounce). Along with that, the gold price for December delivery also recorded a significant decrease, losing 30 USD, down to 3,605 USD/ounce.

This decline is attributed by experts to short-term traders taking profits after gold prices continuously conquered new peaks in recent days. The long-term trend of gold prices is still assessed positively thanks to supporting factors such as expectations of interest rate cuts from the US Federal Reserve (FED).

The global financial market is focusing on the US Department of Labor's employment report, scheduled to be released on the morning of September 5 (Vietnam time). This is considered one of the most important data of the month, which is likely to shape the FED's interest rate trend in the coming time.

If the jobs report shows weakness in the US labor market, this could reinforce expectations of a Fed rate cut at its September meeting, thereby supporting gold prices in the long term. Conversely, a more positive report than expected could put pressure on gold prices due to a stronger USD.

In Vietnam, at the end of September 4, SJC gold was sold at 133.9 million VND/tael, while ring gold was at 128.7 million VND/tael.

Source: https://nld.com.vn/gia-vang-hom-nay-5-9-dao-chieu-sut-giam-sau-chuoi-ngay-tang-nong-196250905061639229.htm