Afternoon of May 15: SJC gold bar price decreased by 1.8 million VND/tael

SJC gold bar price decreased by 1.8 million VND/tael.

Specifically, updated at 2:20 p.m., at Saigon Jewelry Company SJC, DOJI Group listed the price of SJC gold bars at 115.2 - 118.2 million VND/tael (buy - sell), down 2.5 million VND/tael for buying and 1.8 million VND/tael for selling compared to the closing price yesterday.

Saigon Jewelry Company SJC and DOJI Group listed the price of gold rings at 110.5 - 113.5 million VND/tael (buy - sell), down 2 million VND/tael for buying and down 1.5 million VND/tael for selling compared to yesterday's closing price.

Bao Tin Minh Chau Company listed the price of gold bars and gold rings at 113 - 116 million VND/tael (buy - sell), down 2.5 million VND/tael for buying and down 2.3 million VND/tael for selling compared to yesterday's closing price.

In the world market, the spot gold price fell to its lowest level since April 11, losing more than 2% to $3,181.62/ounce at 0:55 a.m. (Vietnam time). During the trading session, the gold price hit its lowest level of $3,174.62/ounce. The US gold futures price also closed down 1.8% to $3,188.3/ounce.

The recovery in global markets due to the sharp reduction in tariffs between the US and China has triggered a technical correction in gold prices, said independent metals trader Tai Wong.

The United States and China have agreed to reduce tariffs for 90 days while they continue to negotiate details. US President Donald Trump said in an interview on May 13 that he may discuss the details of a trade deal directly with Chinese President Xi Jinping. He also revealed that potential deals with India, Japan and South Korea are in the works.

Gold, considered a safe haven in times of political and economic uncertainty, hit a record high of $3,500.05 an ounce last month. It has gained 21.3% so far this year.

Fawad Razaqzada, a market analyst at City Index and FOREX.com, said that while the long-term trend remains bullish, the possibility of a further decline in gold prices could be ruled out for a few more days. The first downside target is $3,136 an ounce, followed by $3,073 an ounce and then the crucial $3,000 an ounce.

Investors are now looking ahead to the US producer price index (PPI) data due on May 15 after weaker-than-expected consumer spending data, which will provide clues on the Federal Reserve's next policy move. Low interest rates typically increase the appeal of gold, which is a non-yielding asset.

NBO

Source: https://baoninhbinh.org.vn/chieu-15-5-gia-vang-mieng-sjc-giam-1-8-trieu-dong-luong-701306.htm