Gold price on May 9: Domestic and world prices simultaneously decreased

In the domestic market, this morning, domestic gold brands all decreased following world price movements.

SJC gold bars increased by 1 million VND to 119.5 million VND/tael; SJC gold rings were traded at 115 million VND/tael.

Specifically, at 9:00 a.m. on May 9, Saigon Jewelry Company (SJC) listed the buying and selling price of SJC gold bars at 117.5-119.5 million VND/tael, down 1 million VND/tael from the previous closing price. The difference between buying and selling is 2 million VND/tael.

SJC 9999 gold ring price is 113.5 million VND/tael for buying and 116 million VND/tael for selling.

DOJI gold bar price in Hanoi and Ho Chi Minh City is 117.5 million VND/tael for buying and 119.5 million VND/tael for selling, down 1 million VND/tael compared to yesterday's closing price.

This brand listed the buying and selling price of Doji Hung Thinh Vuong 9999 gold ring at 113.5-116 million VND/tael.

PNJ Gold is currently buying at 113.5 million VND/tael and selling at 116.1 million VND/tael, up 700,000 VND and 1.1 million VND respectively compared to yesterday's closing price.

As of 9:00 a.m. on May 9 (Vietnam time), the world gold price dropped sharply by 66.2 USD/ounce compared to the previous trading session's close to 3,297.9 USD/ounce.

World gold prices fell sharply this morning amid cooling trade tensions and an increase in the value of the USD. In addition, investors continued to take profits, which also caused gold prices to fall sharply.

Yesterday, President Donald Trump announced a trade deal with the UK. Upcoming trade talks between the US and China are expected to cool geopolitical tensions, which could reduce the appeal of gold.

This positive information pushed US stock indexes up sharply in last night's trading session, making safe-haven assets like gold less attractive.

In the medium and long term, US Global Investor's Head of Trading Michael Matousek said that gold prices are likely to increase to $3,590/ounce in the last quarter and to $3,800/ounce by the end of the year.

Geographic and currency diversification is key to successfully navigating today's markets, and gold is expected to hit $4,000 an ounce as U.S. and global GDP grow over the next 12 months, according to Grace Peters, global chief investment strategist at JPMorgan.

This morning, the USD-Index increased to 100.71 points; the yield on 10-year US Treasury bonds was at 4.367%; US stocks rose as US President Donald Trump reached his first trade agreement; world oil prices turned around and increased sharply, trading at 63.08 USD/barrel for Brent oil and 60.12 USD/barrel for WTI oil.

Source: https://baotuyenquang.com.vn/gia-vang-ngay-9-5-trong-nuoc-the-gioi-dong-loat-giam-211484.html