Gold price today, May 13: Sharp decline

(NLDO) - World gold prices this morning, May 13, plummeted in the context of the US-China trade negotiations that have just recorded positive signals.

Gold price today plummeted

At 6:00 a.m. on May 13, the world spot gold price was only 3,237 USD/ounce, a sharp decrease of 98 USD compared to the previous day's opening price of 3,325 USD/ounce.

Gold prices fell today, boosted by signs of a significant improvement in trade relations between the world’s two largest economies . Last weekend, the US and China reached a 90-day interim deal that will see most tariffs on goods from both countries reduced.

This news triggered a wave of profit-taking and reduced demand for safe-haven assets, adding further downward pressure on the precious metals market.

Meanwhile, US stock indexes rose sharply, reflecting investors' confidence in the economic outlook. This limited the flow of money into the gold market, contributing to increasing downward pressure on prices.

The US dollar also hit a four-week high, adding pressure to gold prices today – which typically have an inverse relationship with the US dollar.

In Vietnam, as of the end of May 12, the listed price of SJC gold was 119.2 million VND/tael for sale, while the price of gold rings reached 115 million VND/tael.

Source: https://nld.com.vn/gia-vang-hom-nay-13-5-sut-giam-manh-196250513064530253.htm