Gold prices today, May 29th: Plummeting sharply

(NLĐO) – World gold prices continued to fall sharply from last night to the beginning of May 29, as US stocks weakened and the value of the US dollar remained stable.

Today, the price of gold in the world market fell by $83 per ounce.

As of 6:30 AM on May 29th (Vietnam time), the spot gold price had fallen to $3,257 per ounce, a sharp decrease of $83 compared to the highest price of $3,340 per ounce during last night's trading session.

Today's drop in gold prices is influenced by the strong US dollar, making gold – which is priced in USD – more expensive for investors using other currencies. This reduces gold's attractiveness as a safe-haven asset.

On the other hand, investor risk appetite improved thanks to the conciliatory tone of the US on trade issues with major economies such as China and the EU. This reduced demand for gold – an asset often sought after during times of uncertainty.

In Vietnam, the price of SJC gold at the end of May 28th was listed at 118.7 million VND/ounce (selling price), while the price of gold rings reached 114 million VND/ounce.

Source: https://nld.com.vn/gia-vang-hom-nay-29-5-lao-doc-manh-19625052906534759.htm