On the morning of May 21st, the price of gold increased by 2 million VND per tael.

Domestic gold prices surged this morning, May 21st, after global gold prices surpassed $4,500 per ounce.

At approximately 8:45 AM, the price of SJC gold bars, as quoted by SJC Company and Phu Quy Group, increased by 2 million VND/ounce for both buying and selling compared to the end of yesterday afternoon, reaching 160.5 million VND/ounce for buying and 163.5 million VND/ounce for selling.

This morning, the price of 9999 gold rings was also increased by 2 million VND/ounce by SJC Company and Phu Quy Group for both buying and selling, listed at 160-160.5 million VND/ounce for buying and 163-163.5 million VND/ounce for selling.

On the global gold market, the spot gold price on the Kitco exchange at approximately 8:50 AM on May 21st (Vietnam time) reached $4,564.47 per ounce. After conversion, this price is equivalent to 145.1 million VND per tael, which is about 17.9 - 18.4 million VND per tael lower than the domestic gold price.

Global gold prices surged again, not only reclaiming the $4,500/ounce mark but also surpassing it after oil prices, the US dollar, and US bond yields all fell thanks to positive signals from US-Iran peace negotiations. At the close of trading, Brent crude fell more than 5% to $105.02/barrel, while WTI crude fell more than 5% to $98.26/barrel. The DXY index, measuring the strength of the US dollar against a basket of six other major currencies, also fell 0.2% to 99.13 points. Meanwhile, the yield on 30-year US Treasury bonds fell to 5.116%, and the yield on 10-year bonds retreated to 4.567%, thus supporting the recovery in gold prices.

The global gold market experienced significant volatility, with prices at times falling below $4,450 per ounce before surging back above $4,550 per ounce, a fluctuation range of up to $100 per ounce.

NHUNG NGUYEN

Source: https://www.sggp.org.vn/sang-21-5-gia-vang-tang-2-trieu-dongluong-post853682.html