Gold price today May 9: Continues to plummet - Lang Son Newspaper and Radio and Television

On the morning of May 9, the world gold price was listed on Kitco at 3,318 USD/ounce, down 52 USD/ounce compared to early yesterday morning.

Gold prices continued to decline after US President Donald Trump announced a bilateral trade agreement just reached with the UK.

The UK has become the first country to reach a trade deal with the US after the Trump administration imposed tariffs on many countries around the world . The deal has raised hopes of similar deals with other countries.

Under the deal, a 10% flat tariff on all exports will remain in effect. However, the US will only impose a 10% tariff on the first 100,000 cars exported from the UK to the US, down from the current 27.5% tariff. The US will also exempt British steel from its 25% tariff.

RJO Futures senior market strategist Bob Haberkorn said gold will remain under pressure and could fall to $3,200 an ounce if the US and China reach a trade deal.

Gold price movements today

+ Domestic gold price

Gold prices continue to plummet. (Photo: Cong Hieu).

At 6:00 a.m. on May 9, the price of gold bars at Doji and SJC was listed at 120.2 - 122.2 million VND/tael (buy - sell), unchanged from early this morning.

Meanwhile, the price of gold rings is currently listed by Doji at 115.5 - 118 million VND/tael (buy - sell), unchanged.

+ International gold price

The world gold price listed on Kitco is at 3,318 USD/ounce, down 52 USD/ounce compared to late yesterday afternoon. Gold futures last traded at 3,320 USD/ounce.

Gold Price Forecast

Bank of America predicts that in the short term, the possibility of gold prices increasing is low. However, the bank expects prices to increase again in the second half of 2025, possibly reaching $4,000/ounce.

Bank of America's analysis team also gave an optimistic forecast, saying that gold prices could reach $4,000/ounce in the second half of this year.

Notably, this forecast came shortly after Bank of America revised its gold price target to $3,500 an ounce by March — a mark that gold quickly reached in less than a month.

Bank of America analysts note that a number of specific conditions are needed for gold prices to reach the target of $4,000/ounce.

Source: https://baolangson.vn/gia-vang-hom-nay-9-5-tiep-tuc-lao-doc-5046421.html