On Sunday, May 18, the price of SJC gold bars was commonly listed by businesses at around 115.5 million VND/tael for buying and 118.5 million VND/tael for selling, down 3.5 million VND/tael compared to the end of last week.
Similarly, the price of 99.99 gold rings and jewelry gold listed by businesses is 111 million VND/tael for buying and 114 million VND/tael for selling, down 3 million VND/tael.
This is a sharp decrease in domestic gold prices.
On the international market, the gold price closed the trading week at 3,201 USD/ounce, down 124 USD/ounce compared to the end of last week (about 3.9 million VND/tael).
SJC gold bar price dropped millions of dong compared to last weekend
Gold prices plummeted last week due to profit-taking pressure from investors, the USD recovered and remained at a high level of over 100.9 points. Regarding the gold price trend next week, both analysts and investors believe that gold prices will not be able to increase again in the short term, according to Kitco.
Specifically, in a survey on Wall Street, 16 analysts participated in the survey, of which only 12% said that gold prices will continue to increase, 63% predicted that gold prices will decrease and the remaining 25% said that gold prices will remain stable.
Similarly, an online survey on Main Street found that of the 294 investors who responded, 34% said gold prices would rise, 42% said gold prices would fall, and the remaining 24% said gold prices would remain flat.
According to analysts, gold prices are unlikely to rebound in the short term after reaching an all-time high of $3,500/ounce at the end of April. The precious metal on the international market will continue to decline, with the latest forecast level possibly reaching $3,000/ounce.
Domestic gold prices fell sharply last week
In the long term, the demand for gold as a safe haven against geopolitical fluctuations, new developments in tariffs between the US and other countries, etc. can help gold prices rise.
Experts from the Global Market and Economic Research Department of UOB Bank (Singapore) believe that the continued demand for safe havens, along with central banks steadily increasing their gold holdings, expectations of a weakening USD, etc., will help gold prices reach $3,600/ounce in the first quarter of 2026.
Currently, the world gold price converted according to the listed exchange rate is about 100.8 million VND/tael.
Source: https://nld.com.vn/gia-vang-hom-nay-18-5-lien-tuc-lao-doc-du-bao-kho-tang-manh-19625051808445045.htm
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