Gold prices on May 23rd: Declining across the board.

GD&TĐ - Domestic gold bar and ring prices decreased simultaneously on May 23rd and are currently maintaining the same selling price; meanwhile, world gold prices continued to fall slightly.

Gold bar price

Brands like Bao Tin Minh Chau, DOJI , Phu Quy, Bao Tin Manh Hai, and PNJ are all listed at 159-162 million VND/ounce (buying price - selling price), a decrease of 400,000 VND/ounce in both buying and selling prices.

SJC gold is trading at 159.4 million VND/ounce for buying and 162.4 million VND/ounce for selling, remaining stable in both directions compared to yesterday morning.

Mi Hong gold is trading at 159.5 - 161 million VND/ounce (buy - sell), down 500,000 VND/ounce in both directions.

Gold ring prices

Brands like Bao Tin Minh Chau, DOJI, Phu Quy, and PNJ are listed at 159-162 million VND/ounce (buying price - selling price), a decrease of 400,000 VND/ounce in both buying and selling prices.

SJC gold is trading at 158.9 million VND/ounce for buying and 161.9 million VND/ounce for selling, remaining stable in both directions compared to yesterday morning.

World gold prices

According to Kitco, the spot price of gold in the world market at 4:00 AM on May 23rd (Vietnam time) was $4,520.2 per ounce, down $21.9 per ounce compared to yesterday.

Based on the Vietcombank exchange rate of 26,390 VND/USD, the world gold price is equivalent to approximately 143.8 million VND/ounce (excluding taxes and fees). The current price of SJC gold bars is about 18.2 million VND/ounce higher than the world gold price.

Global gold prices continue to face downward pressure as the US dollar maintains its upward momentum and oil prices remain high, amid a lack of significant progress in negotiations between the US and Iran.

According to Kitco, the precious metals market is experiencing conflicting influences between safe-haven demand due to geopolitical tensions and pressure from inflation and interest rate expectations.

Developments in the Strait of Hormuz continue to be a focal point for investors. Sharply rising energy prices have fueled concerns about prolonged inflation, thereby supporting the US dollar and putting pressure on gold.

Source: https://giaoducthoidai.vn/gia-vang-ngay-235-dong-loat-giam-post778841.html