Domestic gold ring prices this morning were adjusted down by brands.

Early this morning, SJC Company listed the price of gold rings of type 1-5 at only 111-114 million VND/tael (buy - sell), down 700 thousand VND/tael in both buying and selling compared to yesterday's closing price.

Similarly, Doji Gold and Gemstone Group early this morning also listed the price of 9999 gold rings at 111-114 million VND/tael (buy - sell), down 700 thousand VND/tael in both directions compared to the end of yesterday's trading session.

Buy (VND/tael) Increase/decrease Sell ​​(VND/tael) Increase/decrease
SJC 111,000,000 - 700,000 114,000,000 - 700,000
Doji 111,000,000 - 700,000 114,000,000 - 700,000

                    SJC and Doji gold ring price list updated on the morning of May 17

Opening the trading session on May 17, the price of SJC 9999 gold decreased by 200 thousand VND/tael in both buying and selling compared to the closing price of yesterday's trading session, reaching 115.5-118.5 million VND/tael (buying - selling).

Buy (VND/tael) Increase/decrease Sell ​​(VND/tael) Increase/decrease
SJC HCMC 115,500,000 - 200,000 118,500,000 - 200,000
Doji Hanoi 115,500,000 - 200,000 118,500,000 - 200,000
Doji HCMC 115,500,000 - 200,000 118,500,000 - 200,000

                SJC and Doji gold bar price list updated on the morning of May 17

The central exchange rate on May 17 announced by the State Bank was 24,960 VND/USD, unchanged from the previous trading session. The USD price at commercial banks this morning (May 17) was commonly listed at 25,720 VND/USD (buy) and 26,110 VND/USD (sell).

At 8:48 a.m. today (May 17, Vietnam time) , the world spot gold price was at 3,201.7 USD/ounce, up 29.7 USD/ounce compared to last night. The gold futures price for June 2025 on the Comex New York floor was at 3,187.2 USD/ounce.

On the morning of May 17 , the world gold price converted to USD bank price was over 101.7 million VND/tael, including tax and fees, about 16.8 million VND/tael lower than the domestic gold price.

Gold price on Kitco floor at 8:00 p.m. (May 16, Vietnam time) was trading at 3,172 USD/ounce, down 2% compared to the beginning of the session. Gold futures price for June 2025 delivery on Comex floor New York was at 3,184 USD/ounce.

The US Dollar Index (DXY), which measures the greenback's performance against six major currencies (EUR, JPY, GBP, CAD, SEK, CHF), stood at 100.76 points.

The gold market continues to struggle and fails to find any upside momentum following disappointing housing data.

Housing starts rose 1.6% last month to an annual rate of 1.361 million units, the Commerce Department said. The latest reading was in line with economists’ expectations. The report also showed housing starts fell 1.7% from a year earlier, while single-family housing fell 2.1%, remaining at a low level.

gold price - buy and sell gold-10.jpg
World gold price drops. Photo: Thach Thao

Meanwhile, the US Bureau of Labor Statistics announced that the producer price index (PPI) in April increased 2.4% compared to the same period last year, down significantly from the 3.4% recorded in March. The core PPI (excluding food and energy) increased 3.1%, lower than the previous month's 4%.

According to the US Department of Commerce, retail sales in April increased by only 0.1%, a modest increase compared to 1.7% in March. Many experts said that this decline partly reflects the adjustment trend after a period of strong spending before the implementation of tax policies; consumers are more cautious in the face of existing economic risks.

The University of Michigan’s consumer sentiment index fell for a fourth straight month, dropping 8% in April, reflecting growing concerns about personal finances and the business environment.

US Federal Reserve Chairman Jerome Powell said real interest rates are likely to remain higher for a longer period of time, due to the impact of policy adjustments as well as changes in economic conditions.

In addition, geopolitical tensions further complicate the situation, contributing to increased volatility in global markets.

At the end of the session on May 16, the price of gold bars at SJC closed at 115.7-118.7 million VND/tael (buy - sell), an increase of 200,000 VND/tael for buying and 500,000 VND/tael for selling compared to the previous trading session.

The price of 1-5 chi SJC gold rings and 9999 gold rings at Doji are listed at 111.7-114.7 million VND/tael (buy - sell), an increase of 1.2 million VND/tael in both directions compared to the previous day's closing price.

Gold Price Forecast

In the context of geopolitical instability, along with declining consumer sentiment and rising inflation in the US, gold prices recorded a strong increase. Analysts said that the combination of these factors has created significant "tailwinds" for the gold market, pushing the price of this precious metal higher.

In the latest edition of its annual report In Gold We Trust, published on Thursday, the research team at fund management company Incrementum AG reaffirmed the long-term bullish outlook for gold, forecasting prices to reach $4,800 an ounce by 2030.

According to Incrementum, central banks will have difficulty controlling inflation in the context of rapidly rising global public debt. Gold will reassert its role as an important monetary asset in the global financial system.

Loose policies and prolonged low interest rates are eroding investor confidence, boosting demand for holding gold as a financial hedge.

With the ongoing turmoil in the global financial system and geopolitical environment, gold is being seen as one of the most attractive safe-haven assets for the coming decade.

SJC gold price skyrocketed by 3 million VND/tael then suddenly dropped sharply . Domestic gold price today increased rapidly in the early morning, up to 3 million VND/tael for SJC gold, then suddenly dropped sharply in the early afternoon, evaporating millions of VND/tael.

Source: https://vietnamnet.vn/gia-vang-hom-nay-17-5-2025-tang-vot-roi-lao-doc-sjc-xoay-chieu-chong-mat-2401909.html