The price of gold has increased fairly strongly today
At 6 am on May 7, the price of gold on the international market today reached 3,396 USD/OCE, an increase of 46 USD compared to the lowest level of the negotiation session of last night of 3,350 USD/OCE.
Gold prices have continued to increase today thanks to the high demand for gold on the Chinese market, in particular on the part of retailers. The Shanghai Gold Stock Exchange has recorded a record volume of exchanges, reflecting the tendency to hoard gold as a safe asset in a context of global economic and commercial uncertainty.
The depreciation of the US dollar has also contributed to the increase in gold prices, because gold generally has a opposite relationship with the US dollar. As the US dollar depreciates, gold becomes more attractive to investors using other currencies.
-Meanwhile, the American stock market indices fell and the feeling of risk aversion increased due to the lack of progress in the World Trade War. This makes gold a safe investment channel.
In Vietnam, at the end of May 6, the price side of SJC gold was 122.2 million VND/Tael (sale price), while the price of gold rings reached 118 million VND/Tael.
Source : https://nld.com.vn/gia-vang-hom-nay-7-5-tiep-tuc-di-len-19625050706241277.htm
