At around 10am, the price of SJC gold bars by SJC, PNJ and Bao Tin Minh Chau decreased by 500,000 VND in both buying and selling directions compared to yesterday, trading at 118 million VND/tael for buying and 120 million VND/tael for selling.
Phu Quy Group reduced 500,000 VND in both buying and selling prices, trading at 117 million VND/tael for buying and 120 million VND/tael for selling.
Meanwhile, the price of 9999 gold rings this morning was kept the same as the previous day by many businesses. PNJ Company traded at 113 million VND/tael for buying and 115.5 million VND/tael for selling.
Bao Tin Minh Company also remained unchanged from yesterday, trading at 116 million VND/tael for buying and 119 million VND/tael for selling.
Phu Quy Group also kept the same price as the previous day: 114 million VND/tael for buying and 117 million VND/tael for selling.
SJC Company alone reduced 500,000 VND for both buying and selling, quoting prices at 112.5 million VND/tael for buying and 115 million VND/tael for selling.
On the world gold market, the closing price of gold in New York on the night of May 13 was 3,249.2 USD/ounce, up 12.5 USD compared to the previous session. The spot gold price on Kitco at 10:15 a.m. on May 14 (Vietnam time) turned down to 3,229.3 USD/ounce, down nearly 20 USD compared to the closing price in New York. This price after conversion is equivalent to 101.7 million VND/tael, 18.3 million VND/tael lower than SJC gold bars and about 13.1-17.3 million VND/tael lower than the price of 9999 gold rings.
World gold prices continued to fall in the Asian market this morning despite a report from the US Department of Labor showing that inflation in April in the country was weaker than expected. Specifically, the consumer price index (CPI) increased by 2.3% compared to the same period last year, the lowest increase in 4 years and lower than the 2.4% increase forecast by economists in a previous survey.
The above data is expected by investors to suggest that the US Federal Reserve (FED) will cut interest rates by 0.25% at its July meeting. However, speculators are still betting more on the possibility that the FED will start lowering interest rates in September, instead of in June or July. Along with that, the world's largest gold ETF, SPDR Gold Trust, sold a net 2.6 tons of gold in the session on Tuesday, reducing its holdings to 936.5 tons of gold. In the past month, the fund has been a net seller, especially after the gold price set a record of over 3,500 USD/ounce in April.
According to sggp.org.vn
Source: https://baoapbac.vn/kinh-te/202505/gia-vang-mieng-sjc-quay-dau-giam-sau-chi-dao-cua-thu-tuong-1042481/
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