Last night, the world gold price increased sharply by 86 USD/ounce.
The price of gold today on the world market at 6:00 a.m. on May 21 reached 3,296 USD/ounce, a sharp increase of 86 USD/ounce compared to the lowest level in last night's trading session (3,210 USD/ounce).
The main driver of the rally was Moody's surprise decision to downgrade the US government debt rating late last week, raising concerns about the country's finances and boosting safe-haven demand for precious metals.
Moody's downgrade of US debt has created a shock, putting pressure on US stock indexes and pushing money flows towards safe assets such as gold.
The USD index fell slightly during the day, creating favorable conditions for gold prices to increase today, as the precious metal usually has an inverse relationship with the USD.
In Vietnam, by the end of May 20, the price of SJC gold was listed at 119.3 million VND/tael (selling price), while the price of gold rings reached 114 million VND/tael.
Source: https://nld.com.vn/gia-vang-hom-nay-21-5-tiep-tuc-tang-manh-196250521063307727.htm
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