Gold prices on May 24th: Sharp declines across the board.

GD&TĐ - Domestic and international gold prices continued to record sharp declines on May 24th.

Gold bar price

SJC gold is listed at 158.5 - 161.5 million VND/ounce for buying and selling, a decrease of 900,000 VND/ounce in both directions.

Bao Tin Minh Chau continues to list gold at around 158.5 - 161.5 million VND/ounce (buying price - selling price).

Brands like Bao Tin Manh Hai, DOJI , PNJ, and Phu Quy are all trading at 158.5 - 161.5 million VND/ounce for buying and selling, a decrease of 500,000 VND/ounce in both directions.

Mi Hong is trading at 159.5 - 161.0 million VND/ounce (buying price - selling price).

Gold ring prices

SJC gold is listed at 158 ​​- 161 million VND/ounce for buying and selling, a decrease of 900,000 VND/ounce in both directions compared to yesterday.

Bao Tin Manh Hai is trading at 157 million VND/ounce for buying, down 500,000 VND/ounce compared to yesterday.

Brands like Bao Tin Minh Chau, DOJI, PNJ, and Phu Quy are trading at 158.5 million VND/ounce for buying and 161.5 million VND/ounce for selling, a decrease of 500,000 VND/ounce in both buying and selling prices compared to yesterday.

World gold prices

According to Kitco, the spot price of gold on the world market on the morning of May 24th was $4,509 per ounce, down from the previous session. Converted using the free market exchange rate, world gold is currently equivalent to approximately 143.2 million VND per tael, which is about 18.8 million VND per tael lower than SJC gold bars.

Analysts believe gold prices are under pressure as the market bets that the Fed will continue to keep interest rates high following hawkish statements from Fed Governor Christopher Waller.

Furthermore, tensions in the Strait of Hormuz are keeping oil prices high, increasing concerns about prolonged inflation and prompting a return of funds to the US dollar and U.S. bonds.

Source: https://giaoducthoidai.vn/gia-vang-ngay-245-dong-loat-giam-manh-post778849.html