At the end of May 21, the price of SJC gold bars skyrocketed again.

At the end of May 21, the price of SJC gold bars was simultaneously adjusted to increase again by businesses.

SJC, PNJ, DOJI companies listed the buying price of SJC gold bars at 118.5 million VND/tael, selling price at 121 million VND/tael, an increase of 1.7 million VND/tael compared to the end of the previous day. This is a very strong increase after several days of stability.

Meanwhile, the price of 99.99 gold rings and jewelry gold was traded at around 112 million VND/tael for buying and 115 million VND/tael for selling, an increase of 500,000 VND/tael. The price of SJC gold bars increased much higher than the price of gold rings, widening the gap to 6 million VND.

The price of gold bars increased rapidly following the strong upward trend of world prices. In the international market, the spot gold price as of the end of May 21 (Vietnam time) reached 3,312 USD/ounce, an increase of about 90 USD/ounce compared to the previous session (equivalent to about 2.8 million VND/tael).

SJC gold bar price increases strongly again

The demand for gold as a safe haven has caused gold prices to rise sharply, surpassing the $3,300/ounce mark. According to analysts, the news that Moody's suddenly downgraded the US government 's credit rating last weekend has made investors worried, seeking gold as a safe investment channel.

At the same time, the USD index on the international market (DXY) continued to decline - falling deeply to 99.5 points, down about 0.6% compared to the previous session - also supporting the continued increase in gold prices.

However, analysts say the impact of the downgrade may fade. The market will focus more on other factors such as inflation and the possibility of the US Federal Reserve (FED) keeping interest rates unchanged in the coming weeks. If the FED keeps interest rates unchanged, gold prices may cool down as the US dollar strengthens.

The world gold price converted according to the listed exchange rate is about 104.3 million VND/tael, about 10.7 million VND lower than gold rings and 16.7 million VND/tael lower than SJC gold bars.

World gold price increased sharply, exceeding 3,300 USD/ounce

Source: https://nld.com.vn/cuoi-ngay-21-5-gia-vang-mieng-sjc-lai-tang-vot-196250521173724797.htm