World gold prices stabilized in the first trading session of the week after increasing by more than 7% last week. The weakening USD along with expectations that the monetary policy of the US Federal Reserve (Fed) will be less tough continues to create support for the precious metal.
As of 1 PM Vietnam time, spot gold prices fell 0.10% to 4,337.06 USD/ounce. Meanwhile, December gold futures fell 0.03% to 4,398.42 USD/ounce.
Gold prices are maintaining above the 4,300 USD/ounce mark after a sharp increase last week. The upward momentum of the precious metal is supported by the weakening USD, making gold more attractive to investors holding other currencies. In addition, yields and interest rate expectations continue to be important factors dominating gold developments.
The latest US jobs report shows that the labor market shows signs of cooling down, thereby reducing expectations of the Fed's ability to continue to maintain tight monetary policy. Gold, which does not bring yields, often benefits when the interest rate environment becomes more favorable.
After an increase of more than 7% in a week, gold prices are facing the possibility of adjustments as investors take profits. However, the fact that the precious metal is maintained above the 4,300 USD/ounce mark shows that buying power is still being maintained. The market will continue to monitor US economic data and new signals about the Fed's interest rate roadmap to determine the next direction.
In the precious metals market, spot silver price increased 0.45% to 63.8680 USD/ounce. Spot platinum rose 0.39% to $1,756.21 an ounce, while palladium fell 0.72% to $1,373 an ounce.
On the energy market, Brent oil for October delivery increased by 0.50% to 83.97 USD/barrel, while WTI oil for September 2026 delivery increased by 0.35% to 78.45 USD/barrel.
Thus, the commodity market at the beginning of the week recorded mixed movements as gold maintained a high price range, silver and platinum increased slightly, while palladium decreased. Oil prices continued to rise, with Brent oil approaching the 84 USD/barrel mark.
