Gold price today May 18: Sharp drop, buyers this week lost 6.5 million VND

The price of gold bars at Saigon Jewelry Company - SJC is being bought at 115.5 million VND, sold at 118.5 million VND, down 4.5 million VND for buying and down 3.5 million VND for selling compared to the end of last week. The buying price decreased more sharply, so the difference with the selling price of gold bars is 3 million VND, higher than the 2 million VND/tael of last week. The plummeting gold price has caused buyers to lose 6.5 million VND/tael after one week.

Meanwhile, the price of 4-number-9 gold rings at SJC Company also decreased by 3.5 million VND after a week, when the buying price was 111 million VND, the selling price decreased by 3 million VND, down to 117 million VND. Bao Tin Minh Chau Company also decreased by 3 million VND compared to the end of last week, bringing the buying price of gold rings down to 114 million VND, the selling price was 117 million VND, and this is also the highest selling price on the market.

Gold price plummeted this week, causing buyers to lose 6.5 million VND/tael

The world gold price ended the week at $3,201.7/ounce, down nearly $122 compared to last week. The precious metal recorded a sharp weekly decline since November 2024. The main reason for the gold price plunge was the return of optimism among investors after the news that the US and China reached a preliminary agreement on tariffs. The two countries agreed to sharply reduce import tariffs within 90 days, with US tariffs reduced from 145% to 30% and Chinese tariffs on US goods reduced from 125% to 10%.

Many analysts predict that gold prices will continue to fall. Specifically, in a Kitco News survey on gold price trends next week, attracting 16 Wall Street analysts to participate, 10 people, or 63%, said that gold prices will fall. In contrast, only 2 people, or 12%, said that gold prices will increase, and 4 people, or 25%, thought that the precious metal would move sideways.

Similarly, in a Main Street survey of 294 individual investors, 123 people, or 42%, predicted gold would fall. Conversely, 100 people, or 34%, thought gold would rise again, and the remaining 71 investors, or 24%, said the precious metal would move sideways./.

According to Thanh Nien Newspaper

Source: https://thanhnien.vn/gia-vang-hom-nay-1852025-sap-manh-nguoi-mua-trong-tuan-lo-65-trieu-dong-185250518065313182.htm

Source: https://baolongan.vn/gia-vang-hom-nay-18-5-sap-manh-nguoi-mua-trong-tuan-lo-6-5-trieu-dong-a195471.html