Morning of May 13, domestic gold price fluctuated strangely

At 9:00 a.m. on May 13, the world gold price was trading at 3,229 USD/ounce, down hundreds of USD from the highest level last night.

Meanwhile, SJC, PNJ, and DOJI companies this morning still increased the price of SJC gold bars by 300,000 VND/tael compared to the end of yesterday, to 117.5 million VND/tael for buying and 119.5 million VND/tael for selling.

However, in the past 2 days, the price of gold bars still decreased by about 2.5 million VND/tael.

The price of 99.99 gold rings and jewelry gold is stable at 112.5 million VND/tael for buying and 115 million VND/tael for selling. The price of gold rings is about 4.5 million VND/tael lower than that of SJC gold bars.

Compared to the historical peak, the price of SJC gold bars has decreased by about 4.5 million VND/tael.

Compared to the record peak, the price of gold on the international market has decreased by about 8.5%.

Since its record peak of $3,500 an ounce in April, the world gold price has lost about 8.5%. According to analysts, the gold price has plummeted and remained low for the past few days, losing its appeal as a safe haven since the US and China negotiated a trade deal and reached an initial result of suspending tariffs for 90 days.

In the short term, gold prices are expected to have difficulty increasing again. In the medium and long term, gold prices are still supported by the US Federal Reserve's (FED) decision not to cut interest rates yet, geopolitical conflicts in some regions have not cooled down, and demand for gold from individual and institutional investors remains high.

In the domestic market, many people expect gold prices to fall more sharply as the difference between SJC gold bar prices and world prices is at a high level.

Currently, the world gold price converted according to the listed exchange rate is about 101.7 million VND/tael, lower than the price of gold rings by about 13.3 million VND/tael and lower than the price of SJC gold bars by about 17.6 million VND/tael.

This is a very high difference, compared to the difference of only about 3-5 million VND/tael a few months ago.

Source: https://nld.com.vn/sang-13-5-gia-vang-trong-nuoc-bien-dong-la-196250513092334369.htm