Gold price today (May 12): Maintained at high level - Lang Son Newspaper and Radio and Television Station

Domestic gold price today

Gold price Domestic gold prices are stable. Currently, gold brands are buying at 120 million VND/tael and selling at 122 million VND/tael. Phu Quy SJC gold is buying at 1 million VND lower than other brands.

Similarly, most brands of gold rings also maintained the buying and selling prices of yesterday morning. Specifically, the price of SJC 9999 gold rings was fixed at 114.5 million VND/tael for buying and 117 million VND/tael for selling.

Domestic gold prices are stable. Photo: tuoitre.vn

DOJI in Hanoi and Ho Chi Minh City markets listed the price of gold rings at 114.5 million VND/tael for buying and 117 million VND/tael for selling.

The listed price of Bao Tin Minh Chau brand gold rings is 117 million VND/tael for buying and 120 million VND/tael for selling.

Phu Quy SJC is buying gold rings at 115 million VND/tael and selling at 118 million VND/tael, unchanged from early this morning.

PNJ brand gold ring price is anchored at 114 million VND/tael for buying and 116.6 million VND/tael for selling.

Domestic gold bar prices updated at 5:30 a.m. on May 12 as follows:

Yellow	Area	Early morning 11-5				Early morning 12-5			Difference
		Buy	Sell			Buy	Sell		Buy	Sell
		Unit: Million VND/tael							Unit: Thousand VND/tael
DOJI	Hanoi	120		122		120		122	-	-
	Ho Chi Minh City	120		122		120		122	-	-
SJC	Ho Chi Minh City	120		122		120		122	-	-
	Hanoi	120		122		120		122	-	-
	Danang	120		122		120		122	-	-
PNJ	Ho Chi Minh City	120		122		120		122	-	-
	Hanoi	120		122	120			122	-	-
Bao Tin Minh Chau	Nationwide	120		122	120			122	-	-
Phu Quy SJC	Nationwide	119		122	119			122	-	-

World gold price today

Despite the correction last week, gold prices still hold support above $3,300/ounce. In the current context, many opinions say that although gold's upward momentum may be limited this week, prices will still remain high.

The fact that gold held support above $3,300 an ounce last week suggests that the gold rally is not over yet, said Forex.com senior market strategist James Stanley.

In addition to developments surrounding trade negotiations, the US Federal Reserve’s interest rate stance also impacted gold’s direction last week. Accordingly, at its latest policy meeting, the Fed reaffirmed that it would not rush to lower interest rates because the US economy remains relatively stable.

Although the central bank is still expected to cut interest rates in the summer, some analysts say gold's rally has shifted to a "wait and see" mode.

Most traders are certain that the Fed will cut interest rates in July and this has been reflected in price movements in recent times, said Naeem Aslam, chief investment officer at Zaye Capital Markets.

Aslam said that in the short term, gold prices are likely to decline slightly because the market has little momentum. However, in the long term, he predicted that the price of this precious metal could surpass $ 3,500 / ounce as geopolitical tensions persist. The chief investment officer of Zaye Capital Markets said that the price declines are buying opportunities.

The biggest short-term risk to gold, analysts say, is growing optimism that the US-China trade war will “cool down”, as the two countries have started negotiations.

World gold price listed above 3,300 USD/ounce. Photo: Getty Images

“There is growing expectation that the US-China talks will progress, which will de-escalate geopolitical uncertainty,” said Michael Brown, senior market analyst at Pepperstone. “This is not a positive environment for gold, and prices are likely to test support at $3,000 an ounce.”

Brown added that he also views any correction as a long-term buying opportunity. He said the yellow metal remains a safe haven amid ongoing political and geopolitical uncertainty and also benefits from a push by many countries, especially in emerging markets, to diversify their reserves.

In addition to developments in trade talks, analysts say the Fed's hesitation to ease monetary policy and inflation data this week could create some volatility in the gold market.

Higher inflation would force the Fed to maintain a neutral stance and keep interest rates high. However, higher interest rates could put pressure on the US economy and potentially push it into recession.

With the domestic gold bar price stable and the world gold price listed at Kitco at 3,325.3 USD/ounce (equivalent to about 104.8 million VND/tael converted according to Vietcombank exchange rate, excluding taxes and fees), the difference between domestic and world gold prices is about 17.2 million VND/tael.

Source: https://baolangson.vn/gia-vang-hom-nay-12-5-duy-tri-o-muc-cao-5046704.html