Gold price today May 26: Sharp decrease from 1

Saigon Jewelry Company - SJC sharply reduced the price of SJC gold bars for buying by 2 million VND, down to 117 million VND, while the selling price decreased by 1 million VND, down to 120 million VND. Similarly, Doji Group reduced the gold buying price to 117 million VND, selling to 120 million VND... Gold rings also decreased by 1 million VND per tael, SJC Company bought at 112 million VND, selling at 115.1 million VND; Doji Group bought at 112.5 million VND, selling at 115 million VND.

The difference between the buying and selling price of SJC gold bars increased to 3 million VND/tael, while that of gold rings was at 2.5 - 3.1 million VND/tael. The reason why companies pushed the buying price down more than the selling price was due to the low gold buying power in the market. After Prime Minister Pham Minh Chinh requested to reduce the difference between domestic and world prices to 1 - 2% instead of over 10% as it is now, the market was worried that prices would fall, so there was a tendency to sell more gold than buy. The price of SJC gold bars is currently 14.7 million VND/tael higher than the world price.

SJC gold bar price drops sharply by 1 - 2 million VND/tael

The world gold price fell sharply by $15, down to $3,344/ounce, at one point falling to $3,329. Mr. Han Tan, market analyst at FXTM, commented that gold prices could lose momentum as long as Treasury bond yields do not spike further and the 30-year bond yield remains capped at 5%. This week, in addition to trade and geopolitical developments, gold traders will also rely on potential signals from the minutes of the Federal Open Market Committee (FOMC) meeting, the Federal Reserve's scheduled speech and the PCE data released to adjust the Fed's interest rate cut bets. According to Ole Hansen, Head of Commodity Strategy at Saxo Bank, the move of gold prices above $3,355 an ounce could signal the end of the short-term correction. However, he warned that sentiment in the bond market could be too negative.

Some gold experts noted that in this context, the market needs to pay attention to the US dollar as this currency continues to lose momentum, as well as the US Memorial Day holiday which could help ease tensions in the global market, creating some short-term selling pressure on gold.

Notable US data this week that will impact gold include durable goods orders, consumer confidence, the May FOMC meeting minutes, weekly jobless claims, Q1 preliminary GDP, pending home sales, core PCE. In addition, there is also information on the Reserve Bank of New Zealand's monetary policy decision./.

According to Thanh Nien Newspaper

Source: https://thanhnien.vn/gia-vang-hom-nay-2652025-giam-manh-tu-1-2-trieu-dong-luong-185250526085216469.htm

Source: https://baolongan.vn/gia-vang-hom-nay-26-5-giam-manh-tu-1-2-trieu-dong-luong-a195939.html