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Gold and oil prices fall, USD increases rapidly

VietNamNetVietNamNet17/05/2023


Gold price today, May 17: USD surge puts pressure on gold Gold price today, May 17, on the international market is under strong downward pressure. Investors believe that they bet too early on the possibility of the US quickly reducing interest rates. However, gold price is still above the threshold of 2,000 USD/ounce.

At the end of the trading session on May 16, the buying price of 4-digit 9 gold bars at SJC Ho Chi Minh City was 66.55 million VND per tael and the selling price was 67.15 million VND per tael. The buying price of 4-digit 9 gold bars at SJC Hanoi was listed at 66.55 million VND per tael and the selling price was 67.17 million VND.

Doji Hanoi listed at 66.55 million VND per tael for buying and 67.15 million VND per tael for selling.

On the world market, the spot gold price on the night of May 16 was at 2,005 USD per ounce. The futures gold price was traded at 2,009.6 USD per ounce.

Gold prices in the international market are under strong downward pressure in the context of the DXY index - measuring the fluctuations of the greenback against a basket of 6 major currencies in the world - increasing sharply to 102.4 points. Previously, this index had reached 101 points.

The dollar has rallied as many investors believe they bet too early on the possibility that the Federal Reserve will quickly reverse its monetary policy and cut interest rates after 10 consecutive increases. In fact, Fed officials are showing that they are still sticking to their most important goal of controlling inflation.

However, gold prices remain above the $2,000 per ounce threshold.

On the stock market , in the trading session of May 16, VN-Index increased slightly. At the end of the trading session, VN-Index increased by 0.2 points, to 1,065.91 points. HNX-Index increased by 0.28 points, to 214.62 points. UpCoM-Index increased by 0.17 points, to 80.66 points.

USD price increases rapidly (Photo: Hoang Ha)

Regarding the dollar price , the exchange rate of Vietnamese Dong against the US dollar was listed by the State Bank on May 16 at 23,652 VND per USD, unchanged from the previous day.

The reference exchange rate at the State Bank of Vietnam on May 16 was 23,450 VND for buying and 24,784 VND for selling per USD. The USD price at commercial banks on May 16 was traded around 23,250 VND for buying and 23,620 VND for selling.

In the world, the price of the US dollar tends to increase. The DXY index at 9:49 p.m. on May 16, Vietnam time, reached 102.55 points, up 0.12% compared to the previous session.

Meanwhile, world oil prices fell slightly after reversing upward in the previous session. Oil prices fell as economic data from China - the world's second largest oil consumer - showed a slower-than-expected recovery.

In the domestic market, the selling prices of gasoline and oil today are applied according to the prices at the management session on the afternoon of May 11 of the Ministry of Finance - Industry and Trade.

Accordingly, the price of RON 95 gasoline is 21,000 VND per liter. The price of E5 gasoline is down to 20,130 VND per liter. The price of diesel is 17,650 VND per liter. The price of kerosene is 17,970 VND per liter.

Gasoline prices today, May 17: Slight decrease Gasoline prices today (May 17) on the world market slightly decreased after reversing to increase in the previous session.


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