Gold prices on May 27th: Sharp declines across the board.

GD&TĐ - Domestic and international gold prices on May 27th continued to fall sharply compared to yesterday's increase.

Gold bar price

Brands such as SJC, Bao Tin Minh Chau, Bao Tin Manh Hai, DOJI , and PNJ listed gold at 158.5-161.5 million VND/ounce (buying price - selling price), a decrease of 500,000 VND/ounce in both buying and selling prices.

Phu Quy listed gold at 158.3-161.5 million VND/ounce (buy-sell), a decrease of 700,000 VND/ounce in the buying price and a decrease of 500,000 VND/ounce in the selling price.

Mi Hong gold traded at 158.5 million VND/ounce for buying and 160.3 million VND/ounce for selling, a decrease of 700,000 VND/ounce in the buying price and 400,000 VND/ounce in the selling price.

Gold ring prices

Bao Tin Minh Chau and DOJI are trading at 158.5-161.5 million VND/ounce (buy-sell), a decrease of 500,000 VND/ounce in both buying and selling prices.

Phu Quy listed gold at 158.3-161.3 million VND/ounce (buy-sell), a decrease of 700,000 VND/ounce in both buying and selling prices.

World gold prices

As of 4:00 AM on May 27th (Vietnam time), the world gold price was at $4,509.6 per ounce, down $59.7 per ounce from the previous session.

Based on the USD exchange rate at Vietcombank (26,394 VND/USD), the world gold price is approximately 143.5 million VND/ounce (excluding taxes and fees). The current SJC gold price is about 18 million VND/ounce higher than the international gold price.

Global gold prices are under downward pressure as the US dollar maintains its strength, while oil price volatility and geopolitical tensions in the Middle East are making market sentiment more cautious.

The gold market is also being affected by weakening US consumer confidence amid rising inflationary pressures and the risk of recession.

Analysts believe the impact of geopolitical tensions on gold is currently quite mixed. On the one hand, instability in the Middle East is boosting demand for safe haven assets. However, sharply rising oil prices could also increase inflationary pressure, potentially leading the US Federal Reserve to maintain high interest rates for longer, which would be detrimental to gold.

Source: https://giaoducthoidai.vn/gia-vang-ngay-275-dong-loat-giam-manh-post779224.html