Gold prices fell simultaneously

Opening the trading session this morning, Saigon Jewelry Company listed SJC gold price bought and sold at 69.55 – 70.32 million dong/tael, down 50,000 dong/tael in buying compared to yesterday’s closing.

Gold Doji listed gold price at 69.5-70.1 million dong/tael, down 50,000 dong/tael in buying and 100,000 dong/tael in selling compared to the last session.

Phu Quy SJC listed the gold price at 69.55-70.2 million dong/tael, down 50,000 dong/tael in both directions compared to the close of the previous session.

Other types of gold jewelry this morning simultaneously stood still for both buying and selling directions. Specifically, the price of 24K gold, listed at 54.40 – 55.20 million VND/tael (buy in – sell out); 18K gold price listed at 39.55 – 41.55 million VND/tael (buy in – sell out); 14K gold listed at 30.33 – 32.33 million VND/tael (buy in – sell out).

World gold price

This morning, the world gold price fell.

On the world market, at 6 am this morning on May 10 (Vietnam time), the world gold price on the Kitco floor traded at 1,853 USD/ounce, down 27 USD/ounce compared to the early hours of the morning. Gold prices in the international market drop as USD firmer and yields US treasury The high increase has weighed on the attractiveness of gold, which is not profitable.

Gold prices fell as the dollar rose to a two-decade high on growing concerns about slowing economic growth and rising U.S. interest rates, making gold more expensive for holders of precious metals. other currency.

Yields on 10-year US Treasuries rose to their highest level since November 2018.

Many experts believe that gold will still increase in price, and the stock market will be the main subject of pressure when interest rates rise.

If the stock market stabilizes again and the USD appreciation is not strong, gold will rise again.

If the Fed raises interest rates sharply and the economy falls into recession sooner, gold is still a safe bet. Recently, the Fed believes that inflation is reaching a peak.

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