Gold and silver prices are falling very rapidly.

(NLĐO) - Gold and silver prices plummeted in line with crude oil prices as global stock markets rose and demand for safe-haven assets in precious metals cooled down.

On the evening of May 27th, the world gold price was trading at $4,435 per ounce, a decrease of more than $70 per ounce compared to the previous session.

Plunging even further, silver prices fell to $74.5 per ounce, a drop of 3.3% in a single session.

International markets on the evening of May 27th witnessed a sharp decline in precious metals, mirroring the drop in crude oil prices. Brent crude oil is currently trading at just $96.2 per barrel, down 3.31% from the previous session. During the session, crude oil prices briefly fell below $90 per barrel.

According to analysts, gold and silver prices plummeted in line with crude oil prices amid a global stock market rally and a cooling demand for safe-haven assets like precious metals.

In the domestic market, at the end of May 27th, the price of SJC gold bars was trading around 157.7 million VND/ounce for buying and 160.7 million VND/ounce for selling.

The price of plain gold rings and 99.99% pure gold jewelry is trading around 157.2 million VND/ounce for buying and 160.2 million VND/ounce for selling.

Domestic gold prices remained stable compared to the morning and are currently at their lowest level in over four months.

World gold prices fell sharply at the end of the day.

Silver prices at Ancarat, SACOMBANK -SBJ, and Phu Quy retreated to around 2.85 million VND/ounce for buying and 2.94 million VND/ounce for selling - a decrease of 40,000 VND per ounce compared to the morning.

The price of silver per kilogram was also adjusted by many businesses to around 76 million VND for buying and 78.4 million VND for selling - a decrease of 1.5 million VND compared to the morning.

According to analysts, gold and silver prices are being affected by the cooling of crude oil prices as expectations of reopening the Strait of Hormuz become clearer. In its latest forecast, Swiss bank UBS lowered its gold price forecast for the end of 2026 from $5,900 to $5,500 per ounce, due to high Treasury bond yields and a strong US dollar.

World silver prices also plummeted.

Source: https://nld.com.vn/gia-vang-va-bac-dang-giam-rat-nhanh-196260527221129563.htm