Gold price today, domestic gold price, world gold price, latest gold price update, domestic and world gold traded at gloomy level.

World gold price

World gold price today, latest gold price news, world gold price is currently trading around 1,818 USD/ounce.

World gold price this morning tended to decrease slightly compared to the closing level at the end of the week.

Prior to that, the gold market was unable to find any upward momentum and lost another 4%, the worst weekly close being in mid-June 2021.

Gold price on the morning of May 16: Gloomy trading in the last session of the week 1
Gold price on the morning of May 16 is currently trading at a gloomy level. Photo: Kitco

Experts say that, with the current price of about 1,800 USD/ounce.

Gold prices are now under selling pressure after falling below support at $1,830 an ounce last Thursday.

The precious metal is currently affected by the strong rise of the USD along with the expectation of a positive move.

Domestic gold price

Domestic gold price on the morning of May 16 is currently standing still and not having much fluctuation.

PNJ gold price is currently listed at 54.30 – 55.40 million VND/tael bought and sold.

SJC gold prices in Hanoi and Ho Chi Minh City are currently listed at 68.80 – 69.70 million VND/tael bought and sold.

The price of 24K gold jewelry is currently listed at 53.70 – 54.45 million VND/tael bought and sold.

The price of 18K gold jewelry is being sold at 39.63 – 41.03 million VND/tael bought and sold.

Update domestic gold price list

Gold price on the morning of May 16: Gloomy trading in the last session of the week 2

Gold price forecast

Gold price is forecasted to be strongly influenced by inflation.

The Fed in fact did not give up its plan to accelerate interest rate increases in the near future and thinks that the inflation situation will be out of control any time soon.

Gold price on the morning of May 16: Gloomy trading in the last session of the week 3
Gold price is forecasted to have many fluctuations in the near future due to the pressure of inflation. Photo: Internet

According to global expert Bart Melek of TD Securities, the level of 1,830 USD / ounce is considered an important support level. Even so, the precious metal has now been unable to store this level, plunging to nearly $1,800 an ounce.

Some experts are optimistic that gold price will be able to break out back to $1,865/ounce and then reach $1,900/ounce.

RJO Futures senior market strategist Frank Cholly, gold prices have been selling off recently and are close to bottoming out.


 


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