Gold prices collapse while the United States and China are preparing for negotiations

Will gold prices fall even more?

Recently, global gold prices have been inflated due to tariff policies, especially commercial tensions between the United States and China.

Last night, May 6, the world price of gold jumped to almost $ 3,450 an ounce, but early in the afternoon today, May 7, it turned around and decreased 54.8 dollars an ounce (1.73 million Vnd/Tael), at $ 3.379 the ounce.

Depending on the exchange rate in the bank, the world price of gold is equivalent to 106.5 million VND/Tael.

Yesterday, the United States Department of the Treasury and the Office of the United States Commercial Representative said that the heads of these agencies will meet with Chinese officials in Switzerland. The China Ministry of Commerce later confirmed the reconnection between the two countries.

“Based on international expectations, China’s interests and industry suggestions and American consumers, China decided to resume exchanges with the United States,” said the China Ministry of Commerce.

The price of the gold bullion decreased, the price of the gold ring remained unchanged

This information caused global gold prices to fall sharply after two days of rapid increases. The price of SJC gold bullion today has decreased by 500,000 VND/TAEL compared to the end of yesterday, to 121.7 million VND/TAEL, the purchase price is 119.7 million VND/TAEL.

The sale price of the SJC gold rings today remains at 118 million VND/Tael, and the purchase at 115.5 million VND/TAEL.

The difference between purchase and sale prices is 2 million VND/Tael for SJC gold bullion and 2.5 million VND/Tael for gold rings.

In the company Bao Tin Minh Chau, the sale price of the 9999 gold rings today also remained at 120.5 million VND/Tael, and the purchase at 117.5 million VND/TAEL.

The Gold store my Hong today quoted the sale price of the SJC gold bullion at 121.3 million Vnd/Tael, and the purchase at 119.7 million VND/Tael, 500,000 VND/Tael less than yesterday.

Compared to the world price of turned gold, the price of SJC gold bars is 15.2 million VND/Tael higher than the world gold price.