Compared to its historical peak, the price of SJC gold bars has fallen by more than 30 million VND/ounce in less than half a year - Photo: PQ
The price of SJC gold bars has fallen to 162 million VND per tael.
At 5 PM today, May 20th, the world gold price recovered to $4,484 per ounce. At this current price, converted using the exchange rate listed at banks, the world gold price is equivalent to 142.7 million VND per tael (approximately 37.5 grams).
Gold prices fell sharply after US President Donald Trump announced he was giving Iran a maximum of three days to agree to a deal. Without an agreement, the US could launch "another major attack" on Iran.
Recently, world gold prices have been heavily influenced by news related to the US-Iran conflict, with both sides constantly threatening each other, causing world gold prices to continuously fall below the $4,500/ounce mark. This afternoon, gold prices rose slightly again due to bargain buying.
The selling price of SJC gold bars at the end of today, May 20th, is 162 million VND/ounce, a decrease of 1.8 million VND/ounce compared to two days ago. The buying price is 159 million VND/ounce.
The selling price of 9999 gold rings is 161 million VND/ounce, while the buying price is 158 million VND/ounce.
At private gold shops, the selling price of SJC gold bars is 161 million VND/ounce, while the buying price is 159.5 million VND/ounce.
Compared to the converted world gold price, the price of SJC gold bars is currently 19.3 million VND/ounce higher. This difference is rapidly increasing because the world gold price is falling too quickly while the domestic gold price is falling more slowly.
Silver prices remain below 3 million VND per tael.
The price of silver is currently fluctuating around 2.9 million VND per tael - Photo: NH
The price of silver also fluctuates in line with the price of gold, currently at $75.45 per ounce. Converted using the exchange rate listed at banks, this is equivalent to approximately 2.4 million VND per tael (unit of weight for gold).
Compared to last week's peak, silver prices have fallen by nearly 9%, bringing domestic silver prices back below 3 million VND per tael.
Domestically, Ancarat Company listed the selling price of silver at 2.933 million VND/ounce and the buying price at 2.845 million VND/ounce.
SBJ Company listed the selling price at 2.949 million VND/ounce, and the buying price at 2.859 million VND/ounce.
Phu Quy Company listed the selling price of silver at 2.942 million VND/ounce and the buying price at 2.854 million VND/ounce.
Global gold prices have fallen sharply over the past week as the prospect of ending the war in Iran and reopening the Strait of Hormuz has become more distant, leading to soaring oil prices and a greater likelihood of interest rate hikes by central banks.
Since the war between the US and Iran broke out on February 28th, oil prices have risen by more than 40% and remained above $100 per barrel, increasing global inflationary pressure and potentially leading to central banks keeping interest rates higher for longer.
According to current market forecasts, the US Federal Reserve (Fed) will not lower interest rates in 2026, and may even raise them in early 2027. This will put downward pressure on gold prices.
Furthermore, the strengthening US dollar adds further downward pressure on gold, as gold is priced in USD.
Readers are invited to follow the price movements of gold and silver HERE.
Source: https://tuoitre.vn/gia-vang-bac-dao-dong-manh-20260520172203621.htm
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