Gold price on May 13: Domestic price reversed and increased sharply, world price continued to decrease

In the domestic market, this morning, the price of gold of domestic brands skyrocketed again, contrary to the developments in the world gold market.

Specifically, at 10:30 a.m. on May 13, Saigon Jewelry Company (SJC) listed the buying and selling price of SJC gold bars at 118-120 million VND/tael, an increase of 800,000 VND/tael in both directions compared to the previous session. The buying and selling difference was 2 million VND.

The price of SJC 9999 gold ring is 112.5 million VND/tael for buying and 115 million VND/tael for selling; unchanged in both directions (buying-selling) compared to the previous closing price.

Meanwhile, DOJI gold bar price in Hanoi and Ho Chi Minh City was bought at 117.5 million VND/tael and sold at 119.5 million VND/tael, an increase of 300 thousand VND/tael in both buying and selling compared to the previous session.

This brand listed the price of Doji Hung Thinh Vuong 9999 gold ring unchanged in both directions compared to yesterday's closing price, with buying and selling transactions at 112.5-115 million VND/tael, respectively.

PNJ Gold listed buying price at 112.5 million VND/tael and selling price at 115 million VND/tael, unchanged in both buying and selling prices compared to the previous session.

As of 10:30 a.m. on May 10 (Vietnam time), the world gold price decreased by 88.4 USD/ounce compared to the previous session's close to 3,233.8 USD/ounce.

Gold prices on the world market fell immediately after the announcement that the US would temporarily reduce import tariffs on Chinese goods from 145% to 30% for 90 days; in return, China would reduce tariffs on US goods from 125% to 10% for the same period.

The news sent the dollar soaring to its highest level in more than a month and global stocks rising. A stronger greenback makes gold more expensive for foreign investors.

Traders are now looking ahead to U.S. consumer price index data, due on Tuesday, for guidance on the Federal Reserve’s policy path. Other important economic data this week will include producer price index (PPI) and retail sales, which could influence expectations for interest rate adjustments.

This morning, the USD-Index was at 101.54 points; the yield on 10-year US Treasury bonds was at 4.451%; US stocks jumped after the US-China trade agreement; world oil prices rose, trading at 64.72 USD/barrel for Brent oil and 61.81 USD/barrel for WTI oil.

Source: https://baotuyenquang.com.vn/gia-vang-ngay-13-5-trong-nuoc-dao-chieu-tang-vot-the-gioi-tiep-da-giam-211738.html