Gold price today (May 18): Slight decrease

Domestic gold price today

Domestic gold bar prices reversed and decreased slightly. At the end of May 17, gold brands were buying at VND115.5 million/tael and selling at VND118.5 million/tael. Phu Quy SJC gold was buying at VND500,000 lower than other brands.

The price of gold rings of various brands was also adjusted in both buying and selling directions. Specifically, the price of SJC 9999 gold rings decreased by 700,000 VND in both buying and selling directions, down to 111 million VND/tael and 114 million VND/tael, respectively.

Domestic gold prices slightly decreased. Photo: thanhnien.vn

Similarly, DOJI in Hanoi and Ho Chi Minh City markets also adjusted the price of gold rings down by 700,000 VND in both directions to 111 million VND/tael for buying and 114 million VND/tael for selling, respectively.

The listed price of Bao Tin Minh Chau brand gold rings is 114 million VND/tael for buying and 117 million VND/tael for selling.

Phu Quy SJC is buying gold rings at 111.8 million VND/tael and selling at 114.8 million VND/tael, an increase of 300,000 VND in both buying and selling prices compared to early this morning.

PNJ brand gold ring price is listed at 111 million VND/tael for buying and 114 million VND/tael for selling, down 700,000 VND in both directions.

Domestic gold bar prices updated at 5:30 a.m. on May 18 as follows:

Yellow	Area	Early morning 17-5	Early morning 18-5	Difference
Buy	Sell	Buy	Sell	Buy	Sell
Unit of measure: Million VND/tael	Unit of measure: Thousand dong/tael
DOJI	Hanoi	115.7	117.7	115.5	117.5	-200	-200
Ho Chi Minh City	115.7	117.7	115.5	117.5	-200	-200
SJC	Ho Chi Minh City	115.7	117.7	115.5	117.5	-200	-200
Hanoi	115.7	117.7	115.5	117.5	-200	-200
Danang	115.7	117.7	115.5	117.5	-200	-200
PNJ	Ho Chi Minh City	115.7	117.7	115.5	117.5	-200	-200
Hanoi	115.7	117.7	115.5	117.5	-200	-200
Bao Tin Minh Chau	Nationwide	115.7	117.7	115.5	117.5	-200	-200
Phu Quy SJC	Nationwide	115	117.7	115	117.5	-	-200

World gold price today

Gold prices continued to struggle this past week as risk appetite continued to improve on developments around trade talks. Some analysts believe that the precious metal could continue to struggle next week as the market remains in a “wait and see” mode amid shifting investor sentiment in global markets.

This week's sell-off marked the biggest decline since mid-June 2021 and was slightly steeper than the drop in November 2024 after US President Donald Trump won the presidential election.

In an interview with Kitco News, Professor Thorsten Polleit at the University of Bayreuth said that it is no surprise that the gold market has seen a sell-off over the past week and that rapidly changing investor sentiment is the main reason.

Polleit explained that the results of the trade talks between China and the US, along with the agreements that President Trump reached during his trip to the Middle East, are alleviating concerns that the US economy will fall into recession.

“The improving economic outlook in the US will continue to hurt gold. Gold will fall further in the near term. But this correction is natural and gold investors should not worry,” he said.

Polleit added that he would not be surprised to see gold prices test support below $3,000 an ounce before the correction ends. However, he expects lower prices to attract new investors as the broader uptrend remains intact.

World gold price is around 3,200 USD/ounce. Photo: Getty Images

ActivTrades senior analyst Ricardo Evangelista also predicted that gold prices could fall in the short term as overall investor sentiment improves. However, he added that there may be a limit to how far gold can fall.

“Weaker-than-expected US economic data has reinforced market expectations for a rate cut by the Federal Reserve, pushing the US dollar lower and reducing Treasury yields, factors that typically support non-interest-bearing assets such as gold. Torn between these opposing factors, gold prices could continue to face headwinds. However, significant losses below current levels appear unlikely, as uncertainty remains a key theme for market participants despite recent optimism around trade and geopolitics,” he said.

In a recent note, Saxo Bank head of commodity strategy Ole Hansen said he is adopting a “wait and see” approach to gold, which is caught in a tug-of-war between two key factors.

“Despite the recent pullback, several key drivers, including central bank buying, geopolitical risks, fiscal debt concerns and inflation, remain intact. These factors are likely to support prices in the long term, although a period of consolidation may be needed before the next significant upside catalyst emerges,” he said.

With the domestic gold bar price decreasing 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 16.7 million VND/tael.

TRAN HO HOAI

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