Tonight, May 12, gold prices are falling sharply.

At 7:00 p.m. on May 12, the price of gold today on the international market dropped sharply from the mark of 3,280 USD/ounce to nearly 3,200 USD/ounce. Compared to the weekend session, the price of gold decreased by 120 USD/ounce (equivalent to a decrease of 3.8 million VND/tael).

About 30 minutes later, the gold price recovered to $3,226/ounce, but still decreased by $100/ounce compared to the previous session.

If calculated from the record peak of 3,500 USD/ounce, the world gold price has lost 274 USD/ounce (-8.5%). This is a very strong decrease in the gold price in a short period of time.

World gold prices plummeted immediately after news of positive signs in the US-China trade negotiations on tariffs. According to the agreement reached in Geneva, Switzerland last weekend, the US will reduce tariffs on Chinese goods from 145% to 30%, while China will reduce tariffs on US imports from 125% to 10%.

SJC gold bar price also decreased sharply following world price

According to analysts, although this agreement is only the first step towards a long-term solution, it shows signs of easing tensions between the world's two leading economies .

Positive news about US-China tariffs has helped the international stock market increase sharply; the US dollar index (DXY) on the international market also skyrocketed to 101.66 points (up 1.31% compared to the previous session). These factors have pulled down the price of gold.

The decrease in world gold prices affects the downward trend of domestic gold prices.

At the end of today, the price of SJC gold bars was listed by SJC and PNJ companies at 117.2 million VND/tael for buying and 119.2 million VND/tael for selling, down 1.8 million VND/tael compared to the morning. Compared to the weekend, the price of SJC gold bars lost 2.8 million VND/tael.

World gold price "free fall" tonight

Similarly, the price of 99.99 gold rings and jewelry gold listed by businesses is 112.5 million VND/tael for buying and 115 million VND/tael for selling, down 1 million VND/tael compared to the morning. Compared to yesterday, each tael of gold rings has lost 2 million VND/tael.

Although the price of SJC gold bars and gold rings is still much higher, it is falling along with the rest of the world.

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.

Source: https://nld.com.vn/toi-nay-12-5-gia-vang-dang-giam-rat-manh-196250512194427086.htm