Gold price today 4-9: Continue to set new records

(NLDO) – Gold prices today, September 4, continued to increase as US employment data weakened, boosting investors' demand for safe haven capital.

Gold price continues to heat up today

As of 6:00 a.m. this morning (Vietnam time), the price of gold on the international market reached 3,563 USD/ounce, up 33 USD compared to the lowest level in last night's trading session (3,530 USD/ounce).

Meanwhile, the price of gold futures for December delivery also recorded an impressive increase of 37 USD, reaching 3,630 USD/ounce.

The US jobs report showed that the number of jobs in June fell to 7.437 million, lower than the previous month. This information reflects the US labor market is showing signs of slowing down, with hiring activity clearly decreasing, reinforcing investors' optimistic view on gold.

Other macroeconomic factors have also contributed to the gold price. Global bond yields have risen on concerns about inflation, government debt sales and fiscal discipline. The yield on the 30-year US Treasury bond is now approaching 5%, while bond yields in the UK, Australia and Japan have also risen sharply.

While rising bond yields are not typically a positive for gold, in the current environment gold is still benefiting from its role as a safe-haven asset.

History shows that September and October are often difficult months for stocks and currencies, which further drives investors to gold as a safe haven.

In Vietnam, at the end of September 3, SJC gold was sold at 133.4 million VND/tael, while ring gold was sold at 128.1 million VND/tael.

Source: https://nld.com.vn/gia-vang-hom-nay-4-9-tiep-tuc-lap-ky-luc-moi-196250904062049917.htm