Gold and silver prices unexpectedly surged.

Saigon Jewelry Company, DOJI Group, Phu Quy, and Bao Tin Minh Chau Co., Ltd. simultaneously listed the price of SJC gold bars at 159 - 162 million VND/ounce for buying and selling, an increase of half a million VND/ounce in both directions compared to the beginning of the morning.

The prices of gold rings from various brands have also increased by a similar amount and are listed in SJC gold bars.

Domestic gold prices rose again as world prices reached $4,561 per ounce, an increase of $53 compared to earlier this morning.

Notably, silver prices have surged again. Accordingly, Phu Quy and DOJI silver bars are priced at 80 million VND/kg, an increase of 2 million VND/kg compared to earlier this morning.

Before the opening of trading at 7:00 AM on May 25th, Saigon Jewelry Company and Bao Tin Minh Chau listed the price of SJC gold bars at 158.5 - 161.5 million VND/ounce (buying price - selling price). The price of gold rings from major brands was also traded around this level.

Compared to about two weeks ago, the price of gold has decreased by as much as 7.9 million VND per tael.

Notably, those who bought gold at the peak not only suffered losses due to the price drop but also experienced a "double loss" because the buy-sell spread remained high. With a difference of approximately 3 million VND/ounce, investors selling could lose nearly 11 million VND/ounce after only a short period of holding.

This development highlights the significant risks of buying gold at its peak during periods of high market volatility. Previously, when gold prices were continuously setting new records, many people rushed to buy in fear of missing out on an opportunity. However, when prices reversed and fell sharply, buying pressure in the market also weakened considerably.

The silver market also witnessed a sharp correction. Currently, silver bars from Phu Quy and DOJI are trading around 78 million VND/kg, down about 5 million VND/kg compared to two weeks ago. If investors sell at this time, they could lose about 7 million VND/kg.

In the currency market, the State Bank of Vietnam announced the central exchange rate at 25,135 VND/USD, unchanged from yesterday morning.

At Vietcombank, the USD exchange rate is listed at 26,111 - 26,391 VND/USD (buy - sell). The free market USD rate is around 26,480 - 26,530 VND/USD.

Source: https://tienphong.vn/gia-vang-bac-bat-ngo-bat-tang-post1846004.tpo