Gold prices fall without brakes

The price of SJC gold bars on the afternoon of May 12 decreased by another 800,000 VND per tael, Saigon Jewelry Company - SJC bought at 117.2 million VND, sold at 119.2 million VND. Bao Tin Minh Chau Company decreased by another 1 million VND/tael, bought at 117.2 million VND, sold at 119.5 million VND. Phu Quy Company decreased by 800,000 VND, down to 116.2 million VND for buying, sold at 119.2 million VND...

The total decrease of SJC gold bars in the day was 2.8 million VND.

Gold prices fell sharply

Meanwhile, the rate of decrease in the price of gold rings is slower. Bao Tin Minh Chau Company reduced the price by 2 million VND per tael, buying at 115 million VND, selling at 118 million VND. Phu Quy Company bought at 113 million VND, selling at 116 million VND. Doji Group bought at 112.5 million VND, selling at 115 million VND.

Domestic gold prices plummeted following the world price. World gold prices on the afternoon of May 12 dropped another 20 USD, bringing the total decrease for the day to 100 USD/ounce, equivalent to 3.2%.

Gold prices fell to $3,206 an ounce from an intraday high of $3,308. The precious metal is approaching last week’s low of $3,200 an ounce and has lost nearly $300 an ounce from its record high of $3,500 an ounce.

Gold prices fell mainly due to news that the US and China reached an agreement to reduce reciprocal tariffs. The US will temporarily reduce import tariffs on Chinese goods from 145% to 30%, while China will reduce tariffs on US goods from 125% to 10%. Beijing and Washington said they will temporarily suspend tariffs for 90 days to conduct negotiations./.

According to Thanh Nien Newspaper

Source: https://thanhnien.vn/gia-vang-giam-khong-phanh-185250512182755176.htm

Source: https://baolongan.vn/gia-vang-giam-khong-phanh-a195118.html