Gold price today May 17: Turned down 3 million VND per tael

On the morning of May 17, the price of gold bars at Saigon Jewelry Company - SJC was bought at 115.5 million VND/tael, sold at 118.5 million VND, down 3 million VND in buying price and down 2.3 million VND in selling price after one day. This pushed the difference between buying and selling price of SJC gold bars to increase again to a high of 3 million VND/tael.

However, the price of 4-9 gold rings at SJC decreased lower. Specifically, SJC bought 111 million VND, sold 114 million VND, down 1.5 million VND compared to yesterday. Phu Nhuan Jewelry Company (PNJ) reduced 800,000 VND when buying gold rings at 111.7 million VND, selling 114.7 million VND; Doji also bought at 111 million VND, sold 114 million VND... The difference between buying and selling gold rings continued to stay at 3 million VND/tael.

Gold price evaporated 3 million VND on the morning of May 17

The world gold price fell more than 24 USD compared to yesterday, down to 3,201.7 USD/ounce. The precious metal continued to decline as investors' risk appetite increased from the US-China trade deal. Washington and Beijing announced a 90-day tariff pause earlier this week while they continued to work out the details to end the trade war, causing investors to return to risky assets such as stocks.

US President Donald Trump said on May 16 that his administration would send letters to several countries detailing the new tariffs, possibly in the next two to three weeks. Those letters would replace trade negotiations with countries that the US did not have time to meet with. This is also positive news that is expected to cool down the tariff war between the US and many countries.

The results of the three main indexes on Wall Street recorded strong gains this week. At the end of the trading session on May 16 (early morning of May 17, Vietnam time), the S&P 500 index increased by 0.70% to 5,958.38 points, the Nasdaq Composite index added 0.52% to 19,211.10 points and the Dow Jones increased by 0.78% to 42,654.74 points. In total this week, the S&P 500 increased by 5.3%, the Dow Jones added 3.4% and the Nasdaq Composite jumped 7.2%.

Speaking on CNBC, Jim Wycoff, senior analyst at Kitco Metals, commented that the thaw in the US-China trade war has revived risk appetite across the market in general. This change is driving profit-taking among futures traders, especially in the gold market, and has caused a strong wave of selling that has lasted for a week.../.

According to Thanh Nien Newspaper

Source: https://thanhnien.vn/gia-vang-hom-nay-1752025-quay-dau-giam-3-trieu-dong-mot-luong-185250517073857447.htm

Source: https://baolongan.vn/gia-vang-hom-nay-17-5-quay-dau-giam-3-trieu-dong-mot-luong-a195435.html