Gold price today, May 20: Bouncing back

Giá vàng hôm nay, 20-5: Bật tăng trở lại - Ảnh 1. — Gold price increased sharply today

At 6:00 a.m. this morning, May 20, the price of gold on the world market reached 3,222 USD/ounce, an increase of 20 USD/ounce compared to the previous day's closing price (3,203 USD/ounce).

Gold prices rose sharply in overnight trading on concerns about global finance and trade, along with a surprise move from credit rating agency Moody's.

Moody's shocked markets last week by downgrading the US's long-term credit rating, a signal that increased uncertainty about the world's largest economy 's ability to repay its debts, prompting investors to seek safe haven assets like gold.

In addition, US Treasury Secretary Bessent announced that he would re-impose tariffs announced on April 2 if the partner countries lack goodwill in negotiations. This information increased global trade tensions, encouraging investors to turn to gold as a channel to preserve capital.

Meanwhile, the USD fell sharply, creating favorable conditions for gold prices to increase today, due to the inverse relationship between the precious metal and the greenback.

In Vietnam, at the end of May 19, the price of SJC gold was listed at 119.3 million VND/tael for sale, while the price of gold rings reached 114.5 million VND/tael.