Gold bar price on the morning of May 29 decreased by 1.5 million VND/tael

Domestic gold prices have been falling for the past two consecutive days, and today, May 29, the price of gold continued to decrease by 1.5 million VND/tael. Specifically, in the morning session at 9:30 a.m., Saigon Jewelry Company listed the price of gold bars at 115 - 117.5 million VND/tael, down 1.2 million VND/tael in both buying and selling directions compared to the closing price yesterday.

DOJI Group listed the price of gold bars at 114.7 - 117.2 million VND/tael, down 1.5 million VND/tael in both buying and selling prices compared to yesterday's closing price.

At Bao Tin Minh Chau Company, the listed price of gold bars and gold rings is at 112.3 - 115.3 million VND/tael (buy - sell); down 1.2 million VND/tael for buying and down 1.3 million VND/tael for selling compared to yesterday's closing price.

Saigon Jewelry Company (SJC) listed the price of gold rings at 110 - 113 million VND/tael (buy - sell); down 1 million VND/tael in both buying and selling compared to yesterday's closing price.

DOJI Group listed the price of gold rings at 111-113 million VND/tael (buy - sell); down 500 thousand VND/tael for buying and down 1 million VND/tael for selling compared to yesterday's closing price.

In the world market, in the trading session of May 28, gold prices remained stable, as investors evaluated the minutes of the May meeting of the US Federal Reserve (Fed).

Inflation and recession risks are rising, reinforcing gold's appeal as a safe-haven asset amid continued global economic uncertainty, the minutes said.

Specifically, the spot gold price remained at $3,299.95/ounce. Meanwhile, the US gold futures price fell 0.2% to close at $3,294.90/ounce.

Analyst Jim Wyckoff, of precious metals trading company Kitco Metals, said that the gold market has been volatile recently without a clear trend. Gold prices mainly react to important economic and political news released every day.

Fed officials at the May 6-7 meeting acknowledged the dilemma of dealing with rising inflation and unemployment at the same time, according to the minutes of the meeting. They also warned of the growing risk of a recession.

The meeting comes amid concerns about rising global trade tensions, following US President Donald Trump’s announcement in early April of steep import tariffs, some of which were delayed a week later.

Gold, which performs well in a low-interest-rate environment and acts as a safe haven during times of uncertainty, has gained 26% year-to-date and hit a record high in April.

Goldman Sachs recently recommended that investors increase their gold holdings in long-term investment portfolios, as the reputation of US institutions is at risk and the Fed is under pressure. Meanwhile, central banks around the world continue to buy gold regularly.

NBO

Source: https://baoninhbinh.org.vn/gia-vang-mieng-sang-29-5-giam-den-1-5-trieu-dong-luong-233378.htm