Gold prices drop sharply after news of US-China reciprocal tax cuts

World gold price decreased by more than 100 USD/ounce this afternoon, but domestic gold price decreased more slowly - Photo: THANH HIEP

World gold prices continue to fall

Thus, the world gold price has decreased by more than 3.4 million VND/tael as of this afternoon. Converted according to the exchange rate listed at the bank, the world gold price is only equivalent to 101.3 million VND/tael.

Over the past three months, world gold prices have been increasing continuously, culminating in April, when world gold prices broke one record after another due to the US-China trade war.

So far, the US has temporarily reduced import tariffs on Chinese goods from 145% to 30%, while China will lower tariffs on US goods from 125% to 10%.

The US and China's agreement to suspend most tariffs on each other's goods is an important de-escalation move in the trade war between the world's two largest economies , experts say.

Due to the decrease in demand for risk prevention, the world gold price has fallen sharply.

Domestic gold prices remain unreasonably high

World gold price continues to decrease - Screenshot

However, domestic gold prices remain quite high.

The price of SJC gold bars at the end of today is 120 million VND/tael for sale and 118 million VND/tael for purchase, down 2 million VND/tael compared to last weekend.

The price of 9999 gold rings also decreased to 115 million VND/tael (selling), buying at 112.5 million VND/tael.

The difference between buying and selling prices is 2 million VND/tael for SJC gold bars and 2.5 million VND/tael for gold rings.

At Bao Tin Minh Chau Company, the selling price of 9999 gold rings at the end of today was 118.5 million VND/tael, buying price was 115 million VND/tael. The difference between buying and selling price was up to 3.5 million VND/tael.

Compared to the converted world gold price, the price of SJC gold bars is 18.7 million VND/tael higher than the world gold price, while the price of gold rings is 13.7 million VND/tael higher.

The world gold price set an all-time record of over 3,500 USD/ounce in April. Compared to the peak, the world gold price has now decreased by 7.8%.

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Source: https://tuoitre.vn/gia-vang-giam-manh-sau-thong-tin-my-trung-giam-thue-doi-ung-lan-nhau-2025051217034692.htm