Gold price today 5-5: Reversing down

Giá vàng hôm nay 5-5: Đảo chiều đi xuống - Ảnh 1.

After increasing to 2,060 USD/ounce, the world gold price today plunged to 2,050 USD/ounce at 6:00 a.m. on May 5.

After a strong upward session, the world gold price last night at times dropped tens of USD/ounce but then increased sharply again and continued to fall.

Market transactions showed that at one point the world gold price dropped to 2,030 USD/ounce. However, shortly after that, the market received information that PacWest Bank was falling into crisis, and at the same time, Western Alliance Bank was considering the possibility of selling all of its assets to another financial institution. Since then, financial investors have been concerned that the US banking system may continue to have problems after 3 banks were closed recently. This has prompted many people to increase their gold purchases to hedge against risks.

Therefore, the world gold price increased again by 30 USD to reach 2,060 USD/ounce at 11:00 on May 4.

At this price, speculators began to sell to take profits. Today's gold price was forced to plunge to $2,050/ounce at 6:00 a.m. on May 5.

Previously, in Vietnam, due to the world gold price going down from 9:00 to 17:00 on May 4, the SJC gold price decreased by 50,000 VND/tael, closing at 67.2 million VND/tael at the end of the day.