Gold price today, May 29: Sharp plunge

(NLDO) – World gold prices continued to fall sharply from last night to early May 29, when US stocks weakened and the value of the USD remained stable.

World gold price today decreased by 83 USD/ounce

As of 6:30 a.m. on May 29 (Vietnam time), the spot gold price fell to $3,257/ounce, down $83 from the highest price in last night's trading session of $3,340/ounce.

The decline in gold prices today was affected by the strong US dollar, making gold - which is priced in dollars - more expensive for investors using other currencies. This reduces the appeal of gold as a safe-haven asset.

On the other hand, investor risk appetite has improved due to the conciliatory tone of the US on trade issues with major economies such as China and the EU, reducing demand for gold, an asset that is often sought after in times of uncertainty.

In Vietnam, the price of SJC gold at the end of May 28 was listed at 118.7 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-29-5-lao-doc-manh-19625052906534759.htm