Gold price today 08/05: Buy gold ring and immediately lose 3 million VND

On the morning of May 8, the domestic gold price remained unchanged compared to the end of yesterday. Specifically, Saigon Jewelry Company - SJC bought gold bars at VND120.2 million and sold at VND122.2 million. However, compared to the previous day, each tael of gold bar decreased by half a million VND.

Similarly, the 4-number 9 gold ring at SJC also kept the buying price at 115.5 million VND, selling price at 118 million VND; Phu Nhuan Jewelry Company (PNJ) also maintained the buying price at 115.5 million VND, selling price at 118.1 million VND; Doji Group bought at 115.5 million VND, selling price at 118 million VND... Bao Tin Minh Chau alone is still the unit with the highest trading price of 4-number 9 gold rings in the market when buying at 117.5 million VND, selling price at 120.5 million VND. The difference in buying and selling price of gold rings is higher than gold bars, ranging from 2.5 - 3 million VND/tael. This means that buyers of gold rings will lose more, up to 3 million VND.

Gold price remains stable but gold ring buyers will immediately lose 3 million VND/tael

Despite strong fluctuations in the world gold price, it is currently trading around 3,390 USD/ounce, a high of 35 USD a day ago. However, the precious metal has retreated after the US Federal Reserve (Fed) announced to keep interest rates unchanged late on May 7 (US time). The Fed kept the federal funds rate at a range of 4.25 - 4.5%, which will remain stable from December 2024, as predicted by analysts.

At a press conference after the policy statement, Fed Chairman Jerome Powell said the impact of the tariff hike on the economy remains unclear, and businesses, market participants and forecasters are "waiting to see" how the situation will develop.

Basically, the Fed leader affirmed that he would not rush to adjust interest rates because he assessed that the economy was operating well and noted that although there were many concerns about inflation and the shock from tariffs, "that shock has not happened yet"./.

According to Thanh Nien Newspaper

Source: https://thanhnien.vn/gia-vang-hom-nay-852025-mua-vang-nhan-lo-ngay-3-trieu-dong-185250508075108143.htm

Source: https://baolongan.vn/gia-vang-hom-nay-08-5-mua-vang-nhan-lo-ngay-3-trieu-dong-a194855.html