The gold price today, May 29, was listed by Saigon Jewelry Company (SJC) at 48.40 million VND/tael (buy); the selling price was 48.77 million VND/tael, down 30,000 VND/tael for buying and selling compared to the end of the session on May 28. The difference in selling price is 370,000 VND/tael higher than the buying price.
DOJI Group listed the buying and selling gold price at 48.45 - 48.80 million VND/tael, an increase of 50,000 VND for buying, an increase of 100,000 VND/tael for selling compared to the end of the trading session on May 28. The difference between the buying and selling prices of gold is 350,000 VND/tael.
The world gold price for spot delivery until 8:30 am on May 29 (Vietnam time) was listed at 1,719 USD/ounce. The price of gold delivered in August 2020 on the New York Comex was at 1,730 USD/ounce.
World gold prices increased sharply again in the context of the US and China escalating tensions over many issues, from trade, the COVID-19 epidemic to Hong Kong.
Gold prices increased sharply again, which was a completely surprising development after many consecutive days of strong price declines. Even on the previous day, there was a time when gold prices fell by 850 thousand VND in the context of global stocks not stopping at an increase. The huge cash flow pumped into the economies has pushed stock prices up rapidly, while low demand has not pushed inflation up.
However, since last weekend, experts on Kitco have predicted that gold prices will increase again next week (23-30.5) thanks to a series of monetary stimulus measures to compensate for the damage caused by the COVID-19 pandemic.
The fact that many countries continue to implement easing and reopening their economies also raises expectations for the excitement of markets after a long period of stagnation and freezing with support packages and economic stimulus worth hundreds of billions of USD.
Basic supporting factors, technical charts show that in the short term, gold has turned to an upward price trend. Gold prices have confirmed a breakthrough in the head- shoulder model on the chart after a convincing break at 1,715 USD/ounce.
