On the morning of May 29, gold prices plummeted to their lowest level in more than a month.

On the morning of May 29, domestic gold prices dropped sharply to nearly 117 million VND/tael - the lowest level in more than a month.

This development originated from the international market. Early this morning, the world gold price was trading at 3,257 USD/ounce, down sharply by 83 USD compared to the highest price in the trading session last night, and down nearly 50 USD/ounce compared to the same time the day before.

Gold price decreased by 1.5 million VND/tael. Photo: HT

Precious metal prices fell sharply due to a firm US dollar and reduced demand for the commodity as trade tensions eased.

At nearly 9:00 a.m., the gold price was trading at 3,255.9 USD/ounce, converted to about 14.3 million VND/tael lower than the domestic gold price.

In the domestic market, at the opening, businesses listed SJC gold bars at 114.7 million VND/tael (buy) - 117.2 million VND/tael (sell), down 1.5 million VND/tael each way compared to the end of yesterday.

For gold rings, Saigon Jewelry Company Limited set the price at 110 million VND/tael (buy) - 113 million VND/tael (sell), lower than the previous day's end by 1.3 million VND/tael (buy) and 1 million VND/tael (sell).

Phu Nhuan Jewelry Joint Stock Company reduced the price by VND1.3 million/tael (buying) and VND1.4 million/tael (selling), down to VND110 million/tael (buying) - VND113 million/tael (selling).

In the same trend, Bao Tin Minh Chau Company Limited offers plain round gold rings at 112.3 million VND/tael (buy) - 115.3 million VND/tael (sell), down 1.5 million VND/tael each way.

The current price is the highest since April 21. The buying-selling price range is set by businesses at 2.5-3 million VND/tael.

Previously, yesterday, domestic gold price increased by 700,000 VND/tael each way.

Source: https://hanoimoi.vn/sang-29-5-gia-vang-lao-doc-xuong-muc-thap-nhat-hon-1-thang-qua-703864.html