Gold price "evaporated" more than 3 million VND/tael in May

The weekend was also the last day of May (May 31), domestic gold price decreased by 300,000 VND/tael, bringing the decrease for the whole month to over 3 million VND/tael.

Enterprises listed SJC gold bars at 115.7 million VND/tael (buy) - 118.2 million VND/tael (sell), down 300,000 VND/tael each way.

The price of gold rings also went down. Businesses generally reduced the price by 200,000-700,000 VND/tael (buying) and 200,000-500,000 VND/tael (selling), to 110.5-113 million VND/tael (buying) and 113.5-116 million VND/tael (selling).

Gold prices fell sharply last week. Photo: HT

Looking back at the domestic gold market, on the first day of the week, May 26, the domestic gold price decreased by 2.5 million VND/tael (buying price) and 2 million VND/tael (selling price), down to 116.5 million VND/tael (buying price) - 119 million VND/tael (selling price) in the context of a sharp decrease in world gold prices.

The next day, the price of precious metals continued to drop by 1 million VND/tael each way, to 115.5 million VND/tael (buy) - 118 million VND/tael (sell).

After two consecutive days of increase, on May 28, the gold price reversed, increasing by 700,000 VND/tael, to 116.2 million VND/tael (buy) - 118.7 million VND/tael (sell).

Notably, on May 29, the gold price fluctuated strongly, initially decreasing by 1.5 million VND/tael, down to 114.7 million VND/tael (buy) - 117.2 million VND/tael (sell) - the lowest level in more than a month, then recovering to 115 million VND/tael (buy) - 118 million VND/tael (sell) but still lower than the end of the previous day by 800,000 VND/tael each way.

By May 30, the gold price increased by 500,000 VND/tael each way, to 116 million VND/tael (buy) - 118.5 million VND/tael (sell).

Thus, compared to last weekend, the price of gold decreased by 2.8 million VND/tael. The price of gold rings also moved in a similar direction but the increase-decrease rate was slower.

Domestic gold prices have just gone through May with a dominant downward trend. The highest price recorded in the month was 121.3 million VND/tael (buy) - 123.3 million VND/tael (sell) on May 6, the lowest was 114.7 million VND/tael (buy) - 117.2 million VND/tael (sell) on May 29.

Compared to the end of April, the current gold price is 3.1 million VND/tael lower.

Regarding the gold market, the State Bank announced the conclusion of the inspection on compliance with policies and laws in gold trading at the following enterprises: SJC, PNJ, Bao Tin Minh Chau, DOJI .

Source: https://hanoimoi.vn/gia-vang-boc-hoi-hon-3-trieu-dong-luong-trong-thang-5-704099.html