Gold price today (afternoon of May 8): SJC gold reversed, increased sharply - Lang Son Newspaper and Radio and Television Station

As of the afternoon of May 8, SJC gold of Saigon Jewelry Company (SJC), DOJI Jewelry Group, and Bao Tin Minh Chau was simultaneously bought at 120.7 million VND/tael and sold at 122.7 million VND/tael, an increase of 500,000 VND/tael compared to yesterday.

Meanwhile, Phu Quy Gold and Gemstone Group bought SJC gold bars at 119.7 million VND/tael and sold at 122.7 million VND/tael, an increase of 1 million VND/tael compared to yesterday.

PNJ brand gold rings in Hanoi and Ho Chi Minh City are being bought at 115.5 million VND/tael; sold at 118.1 million VND/tael, stable compared to yesterday.

Gold price today (afternoon of May 8): SJC gold reversed, increasing from 500,000 VND to 1 million VND/tael. Photo: vietnamnet.vn

Thus, in the past month (from April 8 to May 8), Domestic gold prices increased by 23 million VND/tael for buying and 22.5 million VND/tael for selling. Accordingly, SJC gold buying increased from 97.7 million VND/tael to 120.7 million VND/tael; selling increased from 100.2 million VND/tael to 122.7 million VND/tael.

On the international market, in the early morning of May 8, the price of gold decreased by 1.8% to 3,368.42 USD/ounce, while the price of gold futures in the US closed the session down 0.9% to 3,391.9 USD/ounce.

The dollar index rose 0.6% against a basket of major currencies, making gold more expensive for buyers who do not use the dollar.

The Federal Open Market Committee (FOMC) of the US Federal Reserve (Fed) concluded its two-day policy meeting, unanimously deciding to keep interest rates unchanged at 4.25-4.5%, where they have been since December 2024. After the meeting, the FOMC said that the economic outlook has become increasingly uncertain.

Mr. Tai Wong, an independent metals trader, said that the strong upward trend of gold prices has not changed. Investors will take advantage of the price declines to buy in, because gold is still the only asset that investors have confidence in.

Source: https://baolangson.vn/gia-vang-hom-nay-chieu-8-5-vang-sjc-dao-chieu-tang-manh-5046369.html