At 8:35 AM, Saigon Jewelry Company and other businesses listed the price of SJC gold at 159.5 - 162.5 million VND/ounce (buying price - selling price). This price decreased by 1 million VND/ounce in both buying and selling compared to the end of last week.
Silver prices have also been adjusted downwards. At Phu Quy Group, at 8:35 AM, the price of silver bars was adjusted down by 1.41% compared to the end of last week, listed at 2.789 - 2.875 million VND/ounce (buying price - selling price).
On the morning of May 18th, global gold prices remained low as the deadlock surrounding the reopening of the Strait of Hormuz fueled inflation concerns. This situation dragged down global bond markets and dealt a heavy blow to non-yielding assets like gold.
As of 7:42 AM Singapore time on May 18th (approximately 6:42 AM Vietnam time), the spot gold price edged up only slightly by 0.1% to $4,537.83 per ounce, continuing to hover near its lows after plummeting nearly 4% last week. Since the conflict erupted in the Middle East, the precious metal has lost approximately 14% of its value.
The pressure on the gold market stems from the fact that the US and Iran have yet to narrow their differences to reach an agreement to end the hostilities and reopen the Hormuz, a vital waterway for the global energy industry that remains blocked.
As a result, oil prices continued to extend their gains in early week trading, increasing the risk that central banks will have to raise interest rates to curb inflation. Inflationary pressures stemming from the conflict are fueling a sell-off in global bond markets, pushing yields higher amid investor skepticism about the recovery of Middle Eastern oil supplies.
Kitco News' weekly gold survey shows Wall Street sentiment strongly leaning toward a bearish trend. Of the 13 experts surveyed, only 2 predicted a rise in gold prices next week; 10 predicted a fall; and the remaining 1 predicted prices would remain unchanged.
In the short term, the global gold market is expected to continue to experience significant volatility in response to developments in oil prices, US bond yields, and geopolitical tensions in the Middle East.
Domestic silver prices have fallen sharply.
On the morning of May 18th, the price of Ancarat 999 silver bars (1 tael) at Ancarat Precious Metals Company was listed at 2.8 - 2.89 million VND/tael (buying and selling price), a decrease of 220,000 VND/tael in the buying price and 200,000 VND/tael in the selling price compared to the end of last week's trading session. The difference between the buying and selling price was 90,000 VND/tael.
Ancarat Precious Metals Company listed the price of Ancarat 999 silver bars (1kg) at 74.85 - 77.17 million VND/kg (buying and selling price), a decrease of 5.63 million VND/kg in the buying price and a decrease of 5.39 million VND/kg in the selling price compared to the closing price of the trading session on May 15th.
At the same time, the price of 999 silver bars (1 tael) at Phu Quy Gold, Silver and Gemstone Group was listed at 2.81 - 2.9 million VND/tael (buying and selling price), a decrease of 200,000 VND/tael in the buying price and a decrease of 190,000 VND/tael in the selling price compared to the previous trading session.
The price of 999 sterling silver bars (1kg) at Phu Quy Gold, Silver and Gemstone Group is listed at 75.17 - 77.49 million VND/kg (buying price - selling price), a decrease of 5.25 million VND/kg in the buying price and a decrease of 4.98 million VND/kg in the selling price compared to the closing price of the previous trading session.
Sacombank's Gold, Silver and Gemstone Company Limited ( Sacombank - SBJ) listed the price of silver bars at 2.8 - 2.89 million VND/ounce (buying price - selling price).
Commenting on the market, Mr. Nguyen Hoang Viet, Director of the Hanoi branch of Ancarat Company, said that the silver market has just gone through an extremely volatile period. From the beginning of May 2026, the price of silver surged to approximately 88–90 USD/ounce (equivalent to nearly 90 million VND/kg) on May 14th – the highest level in two months. However, in just a few trading sessions, the price plummeted by more than 14%, to the 75–76 USD/ounce range by the end of the week on May 17th, wiping out all previous gains.
According to Ancarat representatives, this market accurately reflects the "wide range" nature of silver — an asset with a "high beta coefficient," meaning that when it rises, it rises more sharply than gold, but when it corrects, it also plummets more deeply. This is not an unusual signal but an inherent characteristic of this metal.
On the global market, the spot price of silver on Kitco was $74.86 per ounce, down $6.19 per ounce from the previous trading session.
According to Muhammad Umair, FXEmpire's currency and precious metals expert, silver remains a beneficiary in an environment of high inflation and increased demand for safe-haven assets. The precious metal tends to attract capital flows as investors seek alternatives to traditional financial assets.
Source: https://vtv.vn/gia-vang-giam-1-trieu-dong-luong-100260518095117287.htm
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