Gold price today (May 15): Sharp decrease - Lang Son Newspaper and Radio and Television Station

Gold price today (May 15): Easing US-China trade tensions have put pressure on the yellow metal.

Gold price Domestic gold prices reversed to decrease. At the end of May 14, gold brands were buying at 118 million VND/tael and selling at 120 million VND/tael. Phu Quy SJC gold was buying at 1 million VND lower than other brands.

Similarly, most brands of gold rings have also been adjusted down in both buying and selling directions. Specifically, the price of SJC 9999 gold rings has decreased by VND500,000 in both directions, down to VND112.5 million/tael for buying and VND115 million/tael for selling, respectively.

Domestic gold prices decrease. Photo: vietnamnet.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 500,000 VND for both buying and selling prices.

The price of Bao Tin Minh Chau brand gold rings is listed at 115.5 million VND/tael for buying and 118.5 million VND/tael for selling, down 500,000 VND in both directions.

Phu Quy SJC is buying gold rings at 113.5 million VND/tael and selling at 116.5 million VND/tael, down 500,000 VND for both buying and selling prices compared to early this morning.

Meanwhile, the price of PNJ brand gold rings is listed at 113 million VND/tael for buying and 115.5 million VND/tael for selling, unchanged from early this morning.

Domestic gold bar prices updated at 5:30 a.m. on May 15 as follows:

Yellow	Area	Early morning 14-5				Early morning 15-5			Difference
		Buy	Sell			Buy	Sell		Buy	Sell
		Unit of measure: Million VND/tael							Unit of measure: Thousand dong/tael
DOJI	Hanoi	118.5		120.5		118		120	-500	-500
	Ho Chi Minh City	118.5		120.5		118		120	-500	-500
SJC	Ho Chi Minh City	118.5		120.5		118		120	-500	-500
	Hanoi	118.5		120.5		118		120	-500	-500
	Danang	118.5		120.5		118		120	-500	-500
PNJ	Ho Chi Minh City	118.5		120.5		118		120	-500	-500
	Hanoi	118.5		120.5	118			120	-500	-500
Bao Tin Minh Chau	Nationwide	118.5		120.5	118			120	-500	-500
Phu Quy SJC	Nationwide	117.5		120.5	117			120	-500	-500

World gold price today

World gold prices fell sharply, with spot gold falling $72.9 to $3,178.3 an ounce. Gold futures last traded at $3,188.3 an ounce, down $59.5 from early this morning.

Easing U.S.-China trade tensions sent gold prices down more than 2% to their lowest in more than a month on Wednesday.

According to independent metals trader Tai Wong, the tariff news has caused a technical correction in the gold market.

The US and China have agreed to suspend previously announced tariffs on each other’s goods for 90 days following talks in Geneva last weekend. The US will reduce tariffs on Chinese imports to 30% from 145%. In response, China will reduce tariffs on US imports from 125% to 10% over the same period.

Stock markets surged after the tariff suspension was announced over the weekend, which has dented safe-haven demand that has driven gold to record highs in recent months, said Ole Hansen, head of commodity strategy at Saxo Bank.

According to him, gold is at risk of falling further if the $3,200/ounce threshold is broken. The precious metal is likely to test the $3,165/ounce threshold.

World gold prices drop sharply. Photo: Getty Images

Fawad Razaqzada, a market analyst at City Index and FOREX.com, said he would not be surprised if the decline continued for a few more days. Prices could fall to $3,136 an ounce, followed by $3,073 an ounce and eventually $3,000 an ounce. However, he stressed that the long-term trend for the precious metal remains bullish.

Traders are awaiting U.S. producer price data due on Thursday for clues on the Federal Reserve's interest rate path after weaker-than-expected April consumer price data fueled speculation of a possible rate cut later this year.

The market is expecting the US central bank to cut interest rates by 53 basis points this year, starting in September.

With the domestic gold bar price decreasing and the world gold price listed at Kitco at 3,178.3 USD/ounce (equivalent to about 100.1 million VND/tael converted according to Vietcombank exchange rate, excluding taxes and fees), the difference between domestic and world gold prices is about 19.9 million VND/tael.

Source: https://baolangson.vn/gia-vang-hom-nay-15-5-giam-manh-5047113.html