At 9 AM, the price of SJC gold bars, as quoted by SJC Company and Phu Quy Group, decreased by 500,000 VND/ounce for both buying and selling compared to yesterday, reaching 158.5 million VND/ounce for buying and 161.5 million VND/ounce for selling.
This morning, the price of 9999 gold rings was also reduced by 500,000 VND/ounce by SJC Company and Doji Group for both buying and selling, listed at 158 - 158.5 million VND/ounce for buying and 161 - 161.5 million VND/ounce for selling.
On the global gold market, the spot gold price on the Kitco exchange at 9:00 AM on May 26th (Vietnam time) was $4,538.1 per ounce, a decrease of nearly $33 per ounce compared to the closing price in New York on the night of May 25th. After conversion, this price is equivalent to approximately 144.3 million VND per tael, which is about 16.7-17.2 million VND per tael lower than the domestic gold price.
Global gold prices surged on May 25th before reversing course and falling in Asian markets this morning. Gold prices remain above $4,500 per ounce thanks to a weakening US dollar and plummeting oil prices, following further positive signals about the possibility of reaching an agreement to end the conflict between the US and Iran.
Specifically, oil prices fell sharply, with Brent crude futures in London losing about 7% to $96.14 per barrel; WTI crude in New York dropped more than 6% to $90.3 per barrel – its lowest level in two weeks. The cooling oil prices helped ease inflationary pressures, thereby reducing expectations that central banks would continue to raise interest rates. Meanwhile, the US dollar also weakened as its role as a "safe haven" diminished and the US's advantage as a net energy exporter became less prominent. The DXY index, which measures the strength of the US dollar against a basket of six other major currencies, fell 0.23% to 99.01 points – its lowest level in a week.
Source: https://www.sggp.org.vn/sang-26-5-gia-vang-giam-500000-dongluong-post854429.html
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