Gold prices today (May 16): In the domestic market, the prices of gold bars and gold rings have plummeted across most brands, although the selling price remains very high. The selling price of branded gold rings is trading at the same price as gold bars.
Gold bar price domestic today
Gold prices at brands such as SJC, Bao Tin Manh Hai, PNJ, DOJI , and Phu Quy all dropped sharply compared to yesterday morning; the highest decrease was 1.5 million VND/ounce. The highest selling price was 164 million VND/ounce.
Domestic gold bar prices updated at 5:00 AM on May 16th. as follows:
Gold bars | Bright May 15th | Bright May 16th | Difference | ||||||
Buy | Sell | Buy | Sell | Buy | Sell | ||||
Unit of measurement: million VND/ounce | Unit of measurement: Thousand dong/ounce | ||||||||
SJC | 162 | 165 | 161 | 164 | -1,000 | -1,000 | |||
Bao Tin Manh Hai | 162 | 165 | 161 | 164 | -1,000 | -1,000 | |||
PNJ | 162 | 165 | 161 | 164 | -1,000 | -1,000 | |||
DOJI | 162 | 165 | 160.5 | 163.5 | -1,500 | -1,500 | |||
Phu Quy SJC | 162 | 165 | 160.5 | 163.5 | -1,500 | -1,500 | |||
Domestic gold ring prices updated at 5 AM on May 16th. as follows:
Today, gold ring prices have fallen sharply across most brands; the highest drop is 1.5 million VND/ounce. The highest listed selling price is 163.8 million VND/ounce.
Gold rings | Bright May 15th | Bright May 16th | Difference | ||||||
Buy | Sell | Buy | Sell | Buy | Sell | ||||
Unit of measurement: million VND/ounce | Unit of measurement: Thousand dong/ounce | ||||||||
SJC | 161.8 | 164.8 | 160.8 | 163.8 | -1,000 | -1,000 | |||
Bao Tin Manh Hai | 160.5 | 159.5 | -1,000 | But | |||||
PNJ | 162 | 165 | 161 | 164 | -1,000 | -1,000 | |||
DOJI | 162 | 165 | 160.5 | 163.5 | -1,500 | -1,500 | |||
Phu Quy SJC | 162 | 165 | 160.5 | 163.5 | -1,500 | -1,500 | |||
Today's world gold price
In the global gold market, The spot gold price this morning fell compared to yesterday morning's session, listed around $4,541.2 per ounce (equivalent to VND 144.9 million per tael at the Vietcombank exchange rate, excluding taxes and fees).
Global gold prices have generally fallen by $285.1 per ounce, equivalent to a 5.91% decrease over the past 30 days.
Currently, the world gold price is approximately 19.1 million VND/ounce lower than the domestic gold price.
Gold continued to receive support from solid long-term fundamentals in the second quarter, but the market is still waiting for a clear macroeconomic trigger before the metal can break out more strongly.
In its latest quarterly precious metals outlook report, London-based brokerage firm Sucden Financial stated that high US bond yields and a strong dollar remain the main drags on gold, overshadowing the impact of geopolitical tensions and stable physical demand – factors that so far have only served as price support rather than sufficient momentum for a significant increase.
Sucden said that gold has struggled to fulfill its traditional role as a safe-haven asset despite rising geopolitical tensions, particularly in the Middle East. Instead of encouraging investors to seek gold, recent escalations have driven up oil prices, increased inflation expectations, and pushed up US Treasury yields, all of which increase the opportunity cost of holding a non-yielding asset like gold.
Analysts say gold is unlikely to surge until the market begins to reflect expectations of lower real yields, a weaker dollar, or clearer signals of the Federal Reserve easing monetary policy.
However, the company also emphasized that the long-term structural landscape remains very positive for gold. Gold ETF holdings remain at historically high levels despite price volatility, indicating that institutional investor participation remains fairly stable. Nevertheless, this demand currently appears to be merely limiting price declines rather than providing the impetus for a sustained strong upward trend.
Sucden said that gold prices are likely to continue fluctuating within a narrow range in the short term, with support around $4,500 per ounce. To move towards the $4,800 region, the market may need weaker economic data or clearer dovish signals from the Federal Reserve.
Today's silver price (May 16)
Today's silver price at Phu Quy Gold, Silver and Gemstone Group is listed at 2.937 million VND/ounce (buying price) and 3.028 million VND/ounce (selling price) in Hanoi.
Additionally, according to surveys at other trading locations in Hanoi, the domestic silver price is currently listed at 2.789 million VND/ounce (buying price) and 2.819 million VND/ounce (selling price). In Ho Chi Minh City, the silver price follows the same upward trend, currently at 2.7913 million VND/ounce (buying price) and 2.825 million VND/ounce (selling price).
On the world market, the price of silver is quoted at $81.13 per ounce.
Source: https://baolangson.vn/gia-vang-hom-nay-16-5-lao-doc-thang-dung-5091997.html
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