Gold price today, May 9: Continues to plummet

(NLDO) – World gold prices on May 9 continued to decline sharply, affected by the rising USD and easing trade tensions.

Gold price today has not stopped falling

At 6:00 a.m. on May 9, the spot gold price on the international market reached 3,319 USD/ounce, down 51 USD compared to 3,370 USD/ounce at the same time the previous day.

The fall in gold prices was driven by a strong US dollar, which made gold more expensive for investors holding other currencies, reducing demand.

Under pressure from the USD, many investors have taken profits, contributing to the fall in gold prices.

Meanwhile, US President Donald Trump announced a trade deal with the UK. Upcoming trade talks between the US and China are expected to ease geopolitical tensions, further reducing the appeal of gold prices.

This positive information pushed US stock indexes up sharply in last night's trading session, making safe-haven assets like gold less attractive.

In addition to the above factors, the Bank of England's move to cut interest rates by 0.25%. Lower interest rates usually support gold prices, but this factor was outweighed by the rising US dollar and bullish sentiment in the stock market.

In Vietnam, as of the end of May 9, the listed price of SJC gold was 120.5 million VND/tael (selling price), while the price of gold rings reached 116 million VND/tael.

Source: https://nld.com.vn/gia-vang-hom-nay-9-5-tiep-tuc-lao-doc-196250509061840479.htm