At the end of May 8, businesses such as SJC and PNJ listed the buying price of gold bars at 118.5 million VND/tael and the selling price at 120.5 million VND/tael - down 2.2 million VND/tael compared to the morning.
Similarly, the price of 99.99 gold rings and jewelry gold is traded by businesses at around 114 million VND/tael for buying and 116.5 million VND/tael for selling, down 1.5 million VND/tael compared to the morning.
This is a very strong and quite surprising decrease in the domestic gold price. The price of SJC gold bars has also fluctuated continuously in recent days.
In the international market, gold prices also fluctuated strongly today. In the morning, the price jumped to over 3,400 USD/ounce, reaching a peak of 3,410 USD/ounce. However, in today's trading session, gold prices plunged to 3,326 USD/ounce, losing 84 USD/ounce (equivalent to about 2.7 million VND/tael).
SJC gold bar price lost more than 2 million VND/tael compared to this morning.
At 6:00 p.m. today, Vietnam time, the world gold price is trading at 3,340 USD/ounce.
Gold prices plunged amid a strong recovery in the US dollar. The US dollar index (DXY) is currently trading at 100.08 points, up 0.47% from the previous session. If calculated from the bottom of 98.28 points in mid-April, the DXY index has recovered about 1.8%.
At the same time, gold prices weakened after the US Federal Reserve (FED) announced that it would keep interest rates unchanged at its May meeting, while expressing a cautious policy, observing and waiting for new economic data. In particular, the US's tariff policy with other countries will affect its monetary policy. The US's inability to cut interest rates and the strong USD are detrimental to gold prices.
Currently, the world gold price converted according to the listed exchange rate is about 105.2 million VND/tael.
The highest price of SJC gold bars in the day reached 122.7 million VND/tael
Source: https://nld.com.vn/cuoi-ngay-8-5-gia-vang-mieng-sjc-gay-bat-ngo-196250508181601058.htm
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