After the State Bank announced the conclusion of the inspection of 2 banks and 4 gold trading companies on the afternoon of May 30, the price of gold in the market decreased slightly. Saigon Jewelry Company - SJC reduced the price of SJC gold bars by 300,000 VND per tael, to 115.7 million VND for buying, and 118.2 million VND for selling. Mi Hong Company reduced the price of SJC gold bars by 500,000 VND per tael, to 115.5 million VND; the selling price remained at 117.5 million VND. Phu Quy Company reduced the price of gold buying by 500,000 VND, to 115 million VND, and the selling price by 300,000 VND, to 118.2 million VND...
Similarly, the price of gold rings also went down. SJC Company reduced 500,000 VND per tael of gold rings, buying at 110.5 million VND, selling at 113.6 million VND. Phu Quy Company reduced 200,000 VND per tael of gold rings, to 111.1 million VND for buying, selling at 114 million VND...
Gold prices fell across the board. PHOTO: NGOC THACH
The world gold price decreased by 25 USD/ounce compared to the highest level on May 30, to 3,290 USD/ounce. However, gold recorded an increase of 45 USD/ounce in May, equivalent to 1.4%. The gold price in May fluctuated in the range of 3,200 - 3,390 USD/ounce. Compared to the record high reached in April, the world gold price is currently 210 USD/ounce lower. The information about the tension of tariffs between the US and other countries, especially China, has caused gold to fluctuate in the past month. The demand for gold as a safe asset has decreased when trade tensions have subsided.
However, the market is also watching developments on whether US President Donald Trump's tax policy decisions are approved by the court. The Federal Court of Appeals for the Washington District has temporarily suspended a lower court's decision to block the imposition of tariffs. Previously, on May 28, the Court of International Trade (CIT) in Manhattan blocked most of the import tariffs that US President Donald Trump imposed on trading partners. The reason is that he exceeded his authority when invoking the Emergency Economic Powers Act (IEEPA) when imposing tariffs.
Regarding the physical gold market, physical gold demand in India decreased this week due to rising domestic gold prices and the end of the wedding season./.
According to Thanh Nien Newspaper
Source: https://thanhnien.vn/gia-vang-hom-nay-3152025-dong-loat-giam-185250531084659313.htm
Source: https://baolongan.vn/gia-vang-hom-nay-31-5-dong-loat-giam-a196281.html
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