On the evening of May 1, the world gold price is decreasing very quickly.

At 7:30 p.m. on May 1, Vietnam time, the world gold price after a "free fall" fell to nearly 3,200 USD/ounce, a total decrease of more than 100 USD/ounce compared to the highest level in the previous session.

World gold prices plummeted on the first day of May, amid a strong recovery of the USD. The USD index on the international market (DXY) increased to nearly 99.9 points, up 0.45% compared to the previous session. Profit-taking pressure caused gold prices to fall sharply.

Compared to the all-time peak set nearly 2 weeks ago, the gold price has lost about 300 USD/ounce (9.3%), this is a shocking decrease in the gold price in the series of consecutive increases in recent months. On forums, many domestic investors expressed surprise at the sharp decrease in world gold prices. With this trend, domestic gold prices will cool down following the world price, although with a delay.

Tối 1-5, giá vàng thế giới đang giảm rất nhanh - Ảnh 1. — SJC gold bar price is 17 million VND/tael higher than the world price

In the domestic market, by the end of the day, the price of SJC gold bars was listed by some companies at VND116 million/tael for buying and VND118.5 million/tael for selling, down another VND500,000/tael compared to the morning. During the day, the price of gold bars lost a total of VND2.5 million/tael.

Meanwhile, the price of 99.99 gold rings and jewelry gold was traded around 112 million VND/tael for buying and 114.5 million VND/tael for selling - down about 1.5 million VND/tael compared to yesterday.

However, domestic gold prices do not yet fully reflect the market size, as several large gold companies are on holiday for the April 30 holiday.

With the current developments, the gap between domestic and world gold prices is widening. Compared to the record peak of 124 million VND/tael, the price of SJC gold bars has now decreased by about 5.5 million VND/tael. Meanwhile, with a sharp decline of about 300 USD/ounce from the peak, the world gold price has decreased by about 9.5 million VND/tael.

Currently, the world gold price converted according to the listed exchange rate is about 101 million VND/tael, 17 million VND/tael lower than SJC gold bars.