This afternoon, both gold and silver prices fell sharply.

At 1:30 PM today, May 15th, both gold and silver prices fell sharply worldwide. At one point, the price of gold dropped to as low as $4,555 per ounce, while the price of silver fell below $80 per ounce.

World gold prices fell sharply this afternoon - Screenshot

World gold prices fell by nearly $100 per ounce.

Compared to midday on May 14th, the world gold price has decreased by $165/ounce, equivalent to 5.25 million VND/ounce. This is a very significant drop.

Based on the exchange rate listed at the bank, the world gold price is equivalent to 144.9 million VND per tael.

The selling price of SJC gold bars decreased by 1 million VND/ounce today, to 164 million VND/ounce, while the buying price remained at 161 million VND/ounce.

The selling price of 9999 gold rings is 163.8 million VND/ounce, while the buying price is 160.8 million VND/ounce.

At private gold shops, the selling price of SJC gold bars also decreased to 164 million VND/ounce, while the buying price was 162.3 million VND/ounce.

Compared to the converted world gold price, the price of SJC gold bars is currently 19.1 million VND/ounce higher. This difference is widening due to the rapid decline in world gold prices.

According to analysis, world gold prices fell sharply due to the strong appreciation of the US dollar and the persistently high price of oil. The US dollar is acting as a "safe haven" while the conflict between the US and Iran has yet to reach a peaceful conclusion.

Additionally, the USD also benefited from the Federal Reserve's ability to keep interest rates high for longer to combat inflation. Meanwhile, Brent crude futures in London rose to $105.7 per barrel.

The market is also awaiting the outcome of the summit between President Donald Trump and Chinese President Xi Jinping in Beijing. While not setting high expectations, investors believe there is still a certain possibility that the US could persuade China to influence Iran to reopen the Strait of Hormuz.

Silver prices have fallen nearly 9% from their peak.

Silver prices fell below 3 million VND/ounce this afternoon - Photo: HH

Silver prices also fell sharply, following the decline in gold prices. From over $89 per ounce, silver prices dropped by more than $10 per ounce, falling to $78.38 per ounce this afternoon.

Based on the exchange rate listed at the bank, this is equivalent to 2.49 million VND per tael.

Domestically, companies also lowered the selling price of silver.

Ancarat Company listed the selling price of silver at 3.003 million VND/ounce and the buying price at 2.927 million VND/ounce.

SBJ Company listed the selling price at 3.09 million VND/ounce, and the buying price at 2.994 million VND/ounce.

Phu Quy Company listed the selling price of silver at 2.999 million VND/ounce and the buying price at 2.909 million VND/ounce.

Compared to two days ago, the price of silver in the domestic market has decreased by nearly 300,000 VND per tael.

In the days leading up to the price increase, people were aggressively selling off their holdings. According to some silver companies, because this adjustment period has been too long, lasting from the end of January until now, including periods of very deep adjustments, the silver market is currently in a state where people are selling whether the price goes down or up.

The reason is that the demand for cash is increasing because many people borrowed during the January 2026 bull run to speculate, but the sharp drop in silver prices made it impossible to hold out, especially with the recent sharp increase in lending interest rates, forcing investors to sell to recover their capital. Not to mention that banks have recently restricted new lending, so the demand for cash among the public is very high.

Readers are invited to follow the price movements of gold and silver HERE.

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Source: https://tuoitre.vn/chieu-nay-gia-vang-va-gia-bac-cung-giam-sau-20260515135919842.htm