Photo: THANH DAT
In today's trading session, domestic gold prices fell in the same direction as world prices.
The market expects the price of SJC gold bars and gold rings to decrease more sharply, narrowing the gap with world prices, after a series of new directives on gold market management policies.
Specifically, at 11:00 a.m. on May 31, Saigon Jewelry Company (SJC) listed the buying and selling price of SJC gold bars at 115.7-118.2 million VND/tael, down 300,000 VND per tael in both buying and selling directions compared to the previous session. The buying and selling difference was 2.5 million VND.
The price of SJC 9999 gold ring is 110.5 million VND/tael for buying and 113.5 million VND/tael for selling, down 500 thousand VND/tael for both buying and selling.
Meanwhile, DOJI gold bar price in Hanoi and Ho Chi Minh City was bought at 115.7 million VND/tael and sold at 118.2 million VND/tael, down 300 thousand VND per tael in both directions (buying-selling) compared to the previous session's close.
This brand listed the price of Doji Hung Thinh Vuong 9999 gold ring down 500 thousand VND/tael in both buying and selling compared to yesterday's closing price, trading at 111-113.5 million VND/tael, respectively.
PNJ Gold listed the buying price at 110.5 million VND/tael and the selling price at 113.6 million VND/tael, down 700 thousand VND per tael for buying and 400 thousand VND per tael for selling compared to the previous session.
As of 11:00 a.m. on May 31 (Vietnam time), the world gold price decreased by 28.9 USD/ounce compared to the previous session to 3,288.3 USD/ounce.
Gold prices edged down as the US dollar strengthened and investors turned cautious ahead of key US inflation data that could influence the US Federal Reserve's monetary policy.
The market is now waiting for the Personal Consumption Expenditures (PCE) Index data - the FED's preferred inflation measure - to be released tonight (Vietnam time).
According to experts, if the PCE is weaker than expected, it will increase the possibility of the FED cutting interest rates this year and bring a boost to gold prices.
Conversely, any signs that inflation remains high could prompt the Fed to maintain tight monetary policy, putting pressure on gold prices, which are typically sensitive to interest rates.
Gold prices could end the year higher, but short-term volatility is undermining that momentum, analysts said, as the market awaits clearer implications of President Trump’s trade war.
Today, the USD-Index increased to 99.33 points; the yield on 10-year US Treasury bonds decreased to 4.397%; US stocks decreased; world oil prices increased, trading at 62.78 USD/barrel for Brent oil and 60.79 USD/barrel for WTI oil.
Source: https://baotuyenquang.com.vn/gia-vang-ngay-31-5-trong-nuoc-the-gioi-quay-dau-giam-212844.html
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