Gold price today May 12: Domestic and international prices plummet

Phu Quy Company reduced the price of SJC gold bars by 1 million VND/tael, buying at 118 million VND, selling at 121 million VND. Mi Hong Company reduced the buying price of SJC gold bars by 1 million VND/tael, down to 119 million VND, and the selling price by 500,000 VND, down to 121 million VND. Meanwhile, Saigon Jewelry Company - SJC took more than 30 minutes at the beginning of the day to adjust the price of gold bars down by 1 million VND, buying at 119 million VND, selling at 121 million VND...

The price of gold rings has a stronger decrease. SJC Company reduced 1.4 million VND per tael, buying at 113 million VND, selling at 115.6 million VND. Phu Quy Company reduced 1 million VND per tael, buying at 114 million VND, selling at 117 million VND... The rate of decrease in domestic gold prices is slower than the world , leading to the price of SJC gold bars being more expensive at 18 million VND/tael, while gold rings are higher by 12.6 - 14 million VND/tael.

SJC gold bar price is 18 million VND/tael higher than the world price

The world gold price "collapsed" on the morning of May 12, down 64 USD/ounce (equivalent to 1.9%), to 3,263 USD/ounce. The gold price went down when investors sold heavily due to positive news in the world.

After two days of negotiations in Switzerland, the US and China reached a positive agreement, although the results have not been announced. In addition, geopolitical tensions between India and Pakistan, Russia and Ukraine eased when the ceasefire agreement was reached.

The results of the recent Federal Reserve interest rate survey also did not support gold. According to data from CME, the probability of the Fed keeping interest rates unchanged in June is 82.7%, while the possibility of cutting 25 basis points is only 17.3%.

In July, the probability of keeping interest rates unchanged has decreased to 40.8%, with a 50.7% chance of a 25 basis point cut and an 8.7% chance of a 50 basis point cut. This will support a stronger USD and an increase in US bond yields./.

According to Thanh Nien Newspaper

Source: https://thanhnien.vn/gia-vang-hom-nay-1252025-trong-nuoc-va-the-gioi-cung-lao-doc-18525051208412328.htm

Source: https://baolongan.vn/gia-vang-hom-nay-12-5-trong-nuoc-va-the-gioi-cung-lao-doc-a195076.html