Gold and silver prices plummet uncontrollably.

World gold and silver prices continued to fluctuate sharply on the evening of May 27th, mostly trending downwards. Gold at one point plummeted to $4,427 per ounce, its lowest level in the past two months.

Within just two hours on the evening of May 27th, the price of gold fell by $50 per ounce, bringing the daily decline to $78, down to $4,429. The total loss for the precious metal that day was 1.7%, narrowing its year-over-year gains to just 34.4%. Shortly afterward, gold rebounded in a V-shaped pattern, rising back to $4,458 per ounce.

Gold prices fluctuated sharply on the evening of May 27th.

PHOTO; CMH

Gold has remained in a downtrend since its peak at nearly $5,600 per ounce in late January. The price has fallen by almost $1,200 per ounce. Conflicts between the US and Iran, which have driven up oil prices, impacted inflation, and potentially altered US monetary policy—particularly raising USD interest rates to curb inflation—have caused gold to slide in recent months.

The sharp drop in world gold prices has also caused domestic prices to plummet to 160 million VND/ounce. Mi Hong Company reduced the price of SJC gold bars by 500,000 VND per ounce, buying at 157.2 million VND and selling at 159.2 million VND. Phu Quy Company reduced the price by 200,000 VND/ounce, buying at 157.5 million VND and selling at 160.5 million VND. Bao Tin Minh Chau Company also lowered the buying price to 157.5 million VND and the selling price to 160.5 million VND… The slow decline in domestic gold prices has resulted in a further increase in price to 19.8 million VND/ounce.

Not only gold, but silver prices also plummeted by 3.6% in a single day, falling to $74 per ounce. Domestic silver prices on May 27th further decreased by 500,000 VND per kilogram. Sacombank - SBJ Company bought at 76 million VND/kg and sold at 78.4 million VND/kg. Phu Quy Company reduced its price by 3 million VND/kg, buying at 75.13 million VND and selling at 77.33 million VND… Domestic silver prices declined more slowly than the global market and recorded a 13% decrease in the past three months.

Source: https://thanhnien.vn/gia-vang-bac-giam-khong-phanh-185260527193326655.htm