SJC gold bar price on the afternoon of May 15 decreased by 1.8 million VND/tael

SJC gold bars. (Photo: VNA) World gold prices fell more than 2% in the session of May 14 to the lowest level in more than a month, while domestic gold ring and gold bar prices also fell sharply by VND1.8 million/tael in the selling price on the afternoon of May 15.

Specifically, updated at 2:20 p.m., at Saigon Jewelry Company SJC, DOJI Group listed the price of SJC gold bars at 115.2-118.2 million VND/tael (buy - sell), down 2.5 million VND/tael for buying and 1.8 million VND/tael for selling compared to the closing price yesterday.

Saigon Jewelry Company SJC and DOJI Group listed the price of gold rings at 110.5-113.5 million VND/tael (buy - sell), down 2 million VND/tael for buying and down 1.5 million VND/tael for selling compared to yesterday's closing price.

Bao Tin Minh Chau Company listed the price of gold bars and gold rings at 113-116 million VND/tael (buy - sell), down 2.5 million VND/tael for buying and down 2.3 million VND/tael for selling compared to yesterday's closing price.

In the world market, spot gold prices fell to their lowest level since April 11, losing more than 2% to $3,181.62/ounce at 0:55 a.m. (Vietnam time).

During the trading session, the gold price hit a low of $3,174.62/ounce. The US gold futures price also closed down 1.8% to $3,188.3/ounce.

The global market rally triggered by the sharp reduction in tariffs between the US and China has triggered a technical correction in gold prices, said independent metals trader Tai Wong. The US and China have agreed to reduce tariffs for 90 days while detailed negotiations continue.

US President Donald Trump, in an interview on May 13, said he would likely discuss directly with Chinese President Xi Jinping the details of a trade deal.

He also revealed that potential deals with India, Japan and South Korea are in the works. Gold, considered a safe-haven asset in times of political and economic uncertainty, hit a record high of $3,500.05 an ounce last month. It has gained 21.3% so far this year.

Market analyst Fawad Razaqzada at City Index and FOREX.com said that although the long-term trend remains bullish, the possibility of a further decline in gold prices could persist for a few more days.

The first downside target is $3,136/ounce, followed by $3,073/ounce and then the crucial $3,000/ounce level.

Investors are now waiting for the US to release producer price index (PPI) data on May 15 after weaker-than-expected consumer data.

This will be the guiding factor for the next policy of the US Federal Reserve (Fed). Low interest rates often increase the attractiveness of gold - which is a non-interest-bearing asset./.

According to Vietnamplus

Source: https://www.vietnamplus.vn/gia-vang-mieng-sjc-chieu-155-giam-18-trieu-dongluong-post1038681.vnp

Source: https://baolongan.vn/gia-vang-mieng-sjc-chieu-15-5-giam-1-8-trieu-dong-luong-a195323.html