Gold price today (May 17): Domestic gold price increases

Domestic gold price today

Domestic gold bar prices have slightly increased. At the end of May 16, gold brands were buying at VND115.7 million/tael and selling at VND118.7 million/tael. Phu Quy SJC gold was buying at VND700,000 lower than other brands.

Meanwhile, the price of gold rings of various brands was adjusted to increase sharply in both buying and selling directions. Specifically, the price of SJC 9999 gold rings increased by 1.2 million VND in both buying and selling directions, up to 111.7 million VND/tael and 114.7 million VND/tael, respectively.

Domestic gold prices increase. Photo: tuoitre.vn

Similarly, DOJI in Hanoi and Ho Chi Minh City markets also adjusted the price of gold rings by 1.2 million VND in both directions, up to 111.7 million VND/tael for buying and 114.7 million VND/tael for selling, respectively.

The price of Bao Tin Minh Chau brand gold rings is listed at 114 million VND/tael for buying and 117 million VND/tael for selling, an increase of 500,000 VND in both directions.

Phu Quy SJC is buying gold rings at 111.5 million VND/tael and selling at 114.5 million VND/tael, an increase of 500,000 VND in both buying and selling prices compared to early this morning.

PNJ brand gold ring price is listed at 111.7 million VND/tael for buying and 114.7 million VND/tael for selling, an increase of 1.2 million VND in both directions.

Domestic gold bar prices updated at 5:30 a.m. on May 17 as follows:

Yellow	Area	Early morning 16-5	Early morning 17-5	Difference
Buy	Sell	Buy	Sell	Buy	Sell
Unit of measure: Million VND/tael	Unit of measure: Thousand dong/tael
DOJI	Hanoi	115.5	117.2	115.7	117.7	+200	+500
Ho Chi Minh City	115.5	117.2	115.7	117.7	+200	+500
SJC	Ho Chi Minh City	115.5	117.2	115.7	117.7	+200	+500
Hanoi	115.5	117.2	115.7	117.7	+200	+500
Danang	115.5	117.2	115.7	117.7	+200	+500
PNJ	Ho Chi Minh City	115.5	117.2	115.7	117.7	+200	+500
Hanoi	115.5	117.2	115.7	117.7	+200	+500
Bao Tin Minh Chau	Nationwide	115.5	117.2	115.7	117.7	+200	+500
Phu Quy SJC	Nationwide	114.5	117.2	115	117.7	+500	+500

World gold price today

World gold prices reversed and decreased, with spot gold prices falling by 36.4 USD to 3,203.7 USD/ounce. Gold futures last traded at 3,178.2 USD/ounce, down 39.4 USD compared to early this morning.

Gold prices fell sharply in the final trading session of this week, with spot gold falling nearly 2%, recording its worst week since November 2024. Accordingly, the risk-on sentiment in the market increased, after the US and China reached a temporary agreement on tariffs. This put pressure on the precious metal market.

Jim Wycoff, senior analyst at Kitco Metals, said the “decreasing” of the US-China trade war has revived risk appetite across the market. This shift is prompting profit-taking by futures traders, especially in the gold market, and has caused a wave of selling over the past week.

World gold prices fall. Photo: Getty Images

According to some experts, the decline of gold in the last trading session of this week was limited, as expectations of the US Federal Reserve (Fed) to cut interest rates increased, following recent inflation and economic data. Accordingly, reports released this week showed that inflation in the US unexpectedly decreased, while the economy is showing signs of weakening. This has made investors expect the US Central Bank to cut interest rates soon this year. Currently, the market is forecasting two cuts in 2025, with the first one starting at the meeting in September.

With the domestic gold bar price increasing and the world gold price listed at Kitco at 3,203.7 USD/ounce (equivalent to about 100.8 million VND/tael converted according to Vietcombank exchange rate, excluding taxes and fees), the difference between domestic and world gold prices is about 16.9 million VND/tael.

TRAN HO HOAI

* Please visit the Economics section to see related news and articles .