Gold price today May 8: Gold closes the third consecutive week of decline
World gold prices closed up on May 6, as investors assessed new data showing that the US job market was stronger than expected, but ended the week with a third consecutive week of decline for gold. Domestically, the price of SJC gold increased by 200,000 – 300,000 VND/tael in both buying and selling directions…
Gold price today 8/5: 3rd week of decline, stronger downward momentum
World gold prices closed up on May 6, as investors assessed new data showing that the US job market was stronger than expected, but ended the week with a third consecutive week of decline for gold.
Gold price for June delivery increased by 7.1 USD, or 0.4%, closing the last session of the week at 1,882.8 USD/ounce.
Gold price today 8/5: 3rd week of discount.
Gold price today 8/5.
Gold price falls session 5/5 after gaining more than 1% at one point, as the dollar strengthened and overwhelmed the support for gold from the relatively less “tough” stance of the Federal Reserve (Fed) on increasing interest rate.
On May 4, the Fed raised the benchmark interest rate by 50 basis points, the biggest increase in 22 years. In a later press conference, Fed Chairman Jerome Powell added that officials had not yet considered the possibility of raising rates by as much as 75 basis points in the future.
Gold price spot fell 0.3 percent to $1,876.13 an ounce, having hit its highest since April 29 in the same session.
Previously, gold price fell in the 4/5 session, increased in the 3/5 session, decreased in the 2/5 session.
For the whole week, the precious metal lost 1.5% of its value, marking its third consecutive weekly loss. According to Dow Jones Market Data, this is the longest period of decline in gold prices since December 3, 2021.
Domestic, SJC gold price increased by 200,000 – 300,000 VND/tael in both buying and selling directions in the past week.
Currently, the highest buying price of SJC gold is at 69.75 million dong/tael, while the highest selling price is 70.48 million dong/tael.
In the session on May 7, the price of 24K gold, 18K and 14K SJC gold jewelry remained unchanged compared to the end of the previous session.
At the end of yesterday’s trading session, the price of 9999 gold bars at SJC and Doji listed as follows: SJC Hanoi: 69.75 million VND/tael (buy in) – 70.47 million VND/tael (sold out). SJC HCMC: 69.75 million VND/tael (buy in) – 70.45 million VND/tael (sold out). Doji Hanoi: 69.6 million VND/tael (buy in) – 70.4 million VND/tael (sold out). Doji Ho Chi Minh City: 69.8 million VND/tael (buy in) – 70.4 million VND/tael (sold out). The prices of SJC 5c, SJC 2c, 1C, and 5 fractions have the buying price – selling at 69.75 million VND/tael (buying in) – 70.48 million VND/tael (selling out).
at Blogtuan.info – Source: danviet.vn – Read the original article here
