Gold price today, May 24: Strong increase again

Gold price is hot today

Early on May 24, the world gold price closed the weekend at 3,358 USD/ounce, up 58 USD compared to the lowest level in last night's trading session (3,300 USD/ounce).

The appeal of gold prices today was reinforced by the risk-off sentiment in the market, especially after the US stock market fluctuated last night. The reason partly came from President Donald Trump's social media posts, which mentioned imposing a 25% tax on Apple iPhones if they are not made in the US, along with the announcement of imposing a 50% tax on goods from the European Union (EU) starting June 1 due to the deadlock in trade negotiations. This information stimulated money flows into gold as a safe haven.

Other factors also positively impacted the gold market, including a weaker US dollar, stable crude oil futures at $61.25 a barrel, and 10-year US Treasury yields reaching 4.5%.

In Vietnam, by the end of May 23, the price of SJC gold was listed at 120.5 million VND/tael (selling price), while the price of gold rings reached 115.5 million VND/tael.

Source: https://nld.com.vn/gia-vang-hom-nay-24-5-tang-manh-tro-lai-196250524065421381.htm