Gold price today (May 13): Sharp decrease across the board

Domestic gold price today

Domestic gold bar prices have dropped sharply. At the end of May 12, gold brands were buying at VND117.2 million/tael and selling at VND119.2 million/tael. Phu Quy SJC gold alone was buying at VND1 million lower than other brands.

Similarly, gold rings of various brands were also adjusted down sharply in both buying and selling prices. Specifically, the price of SJC 9999 gold rings decreased by 2 million VND in both directions, down to 112.5 million VND/tael for buying and 115 million VND/tael for selling, respectively.

Domestic gold prices drop sharply. Photo: thanhnien.vn

DOJI in Hanoi and Ho Chi Minh City markets listed the price of gold rings at 112.5 million VND/tael for buying and 115 million VND/tael for selling, down 2 million VND for both buying and selling prices.

The price of Bao Tin Minh Chau brand gold rings is listed at 115 million VND/tael for buying and 118 million VND/tael for selling, down 2 million VND in both directions.

Phu Quy SJC is buying gold rings at 113 million VND/tael and selling at 116 million VND/tael, a decrease of 2 million VND in both buying and selling prices compared to early this morning.

The listed price of PNJ brand gold rings is 112.5 million VND/tael for buying and 115 million VND/tael for selling, down 1.5 million VND for buying and 1.6 million VND for selling.

Domestic gold bar prices updated at 5:30 a.m. on May 13 as follows:

Yellow	Area	Early morning 12-5	Early morning 13-5	Difference
Buy	Sell	Buy	Sell	Buy	Sell
Unit of measure: Million VND/tael	Unit of measure: Thousand dong/tael
DOJI	Hanoi	120	122	117.2	119.2	-2800	-2800
Ho Chi Minh City	120	122	117.2	119.2	-2800	-2800
SJC	Ho Chi Minh City	120	122	117.2	119.2	-2800	-2800
Hanoi	120	122	117.2	119.2	-2800	-2800
Danang	120	122	117.2	119.2	-2800	-2800
PNJ	Ho Chi Minh City	120	122	117.2	119.2	-2800	-2800
Hanoi	120	122	117.2	119.2	-2800	-2800
Bao Tin Minh Chau	Nationwide	120	122	117.2	119.2	-2800	-2800
Phu Quy SJC	Nationwide	119	122	116.2	119.2	-2800	-2800

World gold price today

World gold prices fell sharply, with spot gold falling $86.6 to $3,238.7 an ounce. Gold futures last traded at $3,228 an ounce, down $116 from early this morning.

Spot gold prices fell about 3% on Monday as risk appetite increased following the announcement that the US would temporarily reduce import tariffs on Chinese goods from 145% to 30%, while China would lower tariffs on US goods from 125% to 10%. The new measures will take effect in 90 days.

Gold has been quick to react to news from the White House in the past month, making it vulnerable to any changes in Trump’s stance, according to Adrian Ash, director of research at BullionVault. Ash said gold will not be able to regain its momentum immediately when market optimism is high, adding that the metal may only find upside potential when that optimism fades.

Elsewhere, the dollar jumped to its highest level in more than a month and global stocks rose after the deal. A stronger greenback makes gold more expensive for foreign investors.

World gold prices drop sharply. Photo: Getty Images

“June gold futures bulls have lost the overall near-term technical advantage. The bulls’ next upside price objective is to produce a close above solid resistance at $3,350 an ounce. First resistance would be at $3,250 an ounce, followed by $3,275 an ounce,” said Kitco Metals senior analyst Jim Wyckoff.

Seen as a hedge against economic and geopolitical uncertainty, bullion hit a record high of $3,500.05 an ounce last month amid rising tariff uncertainty.

Traders are now awaiting U.S. consumer price index data, due on Tuesday, for guidance on the Federal Reserve's policy path. Other key data sets due this week include producer prices and retail sales.

With the domestic gold bar price falling sharply and the world gold price listed at Kitco at 3,238.7 USD/ounce (equivalent to about 102 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.

TRAN HO HOAI

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Source: https://baodaknong.vn/gia-vang-hom-nay-13-5-dong-loat-giam-manh-252339.html