Gold price today May 28: Sharp decline

(NLDO) – World gold prices last night and early this morning, May 28, plummeted amid a recovery in US stocks and a significant increase in the value of the USD.

Gold price today goes down

The main reason for the decline in gold prices is still the optimistic sentiment in the financial market after President Donald Trump decided to postpone the imposition of a 50% tax on the European Union until July 9, instead of applying it from June 1 as previously announced.

The move creates more time for trade negotiations between the two sides, helping to boost investor sentiment.

US stock indexes rose sharply, while the USD also recorded a significant increase, creating additional pressure on gold prices today.

In addition, Nymex crude oil prices fell slightly, trading around $60.5/barrel, while the yield on 10-year US Treasury bonds reached 4.4%.

These factors reduce the appeal of gold as a safe-haven asset, pushing the price of the precious metal down.

During last night's trading session, the world gold price reached 3,340 USD/ounce at one point but then dropped sharply by 36 USD, down to 3,304 USD/ounce at 6:00 a.m. on May 28 (Vietnam time).

In Vietnam, by the end of May 27, the price of SJC gold was listed at 118.3 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-28-5-sut-giam-manh-196250528062747618.htm