Gold price today (May 21): World gold price increases sharply, domestic price is stable - Lang Son Newspaper and Radio and Television Station

Gold price today (May 21): World gold prices increased sharply thanks to the weakening of the USD and safe-haven demand. Meanwhile, domestic gold prices remained stable.

Gold price Domestic gold prices are stable. At the end of May 20, gold brands were buying at 116.8 million VND/tael and selling at 119.3 million VND/tael. Phu Quy SJC gold was buying at 500,000 VND lower than other brands.

Meanwhile, the price of gold rings of most brands was adjusted down in both buying and selling prices. Specifically, the price of SJC 9999 gold rings decreased by 500,000 VND in both directions, down to 111 million VND/tael for buying and 114 million VND/tael for selling, respectively.

Domestic gold ring prices decrease. Photo: vietnamnet.vn

DOJI in Hanoi and Ho Chi Minh City markets kept the same buying price as yesterday morning at 111.5 million VND/tael but adjusted the selling price down 500,000 VND to 114 million VND/tael.

The price of Bao Tin Minh Chau brand gold rings is listed at 113.8 million VND/tael for buying and 116.8 million VND/tael for selling, down 400,000 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, down 300,000 VND 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 500,000 VND in both directions.

Domestic gold bar prices updated at 5:30 a.m. on May 21 as follows:

Yellow	Area	Early morning 20-5				Early morning 21-5			Difference
		Buy	Sell			Buy	Sell		Buy	Sell
		Unit of measure: Million VND/tael							Unit of measure: Thousand dong/tael
DOJI	Hanoi	116.8		119.3		116.8		119.3	-	-
	Ho Chi Minh City	116.8		119.3		116.8		119.3	-	-
SJC	Ho Chi Minh City	116.8		119.3		116.8		119.3	-	-
	Hanoi	116.8		119.3		116.8		119.3	-	-
	Danang	116.8		119.3		116.8		119.3	-	-
PNJ	Ho Chi Minh City	116.8		119.3		116.8		119.3	-	-
	Hanoi	116.8		119.3	116.8			119.3	-	-
Bao Tin Minh Chau	Nationwide	116.8		119.3	116.8			119.3	-	-
Phu Quy SJC	Nationwide	116.3		119.3	116.3			119.3	-	-

World gold price today

World gold prices increased sharply, with spot gold prices increasing by 75.4 USD to 3,305.2 USD/ounce. Gold futures last traded at 3,295 USD/ounce, up 65 USD compared to early this morning.

A weaker US dollar continued to boost the appeal of gold, pushing spot prices above $3,300 an ounce on Tuesday. Rising demand for safe-haven gold due to concerns over US tariffs also boosted the precious metal’s gains.

The dollar continued to fall on Tuesday, pressured by a cautious Federal Reserve. Earlier in the week, the greenback sold off sharply after Moody's downgraded the US sovereign credit rating to Aa1 from Aaa, citing concerns about the country's growing debt. Fed officials stressed that they would continue to navigate an uncertain economic environment.

There is still some uncertainty in the market, said David Meger, director of metals trading at High Ridge Futures. According to him, Moody's downgrade of the US sovereign credit rating and the weakening of the US dollar were the main factors supporting gold in the last session.

World gold prices increase. Photo: Getty Images

US stocks edged lower as investors kept a close eye on a vote on President Donald Trump’s massive tax cut plan. In an environment of heightened uncertainty, gold continued to play its role as a reliable safe haven, drawing investors to the precious metal.

"Gold will face strong resistance at $3,350 an ounce, with minor resistance at $3,300 an ounce. We are trading in a new range of $3,150 to $3,350 an ounce," said Phillip Streible, chief market strategist at Blue Line Futures.

Marex analyst Edward Meir predicts gold prices will stay in a trading range of $3,000 to $3,500 an ounce for the rest of the year.

With the domestic gold bar price stable and the world gold price listed at Kitco at 3,305.2 USD/ounce (equivalent to about 104.2 million VND/tael converted according to Vietcombank exchange rate, excluding taxes and fees), the difference between domestic and world gold prices is about 15.1 million VND/tael.

Source: https://baolangson.vn/gia-vang-hom-nay-21-5-gia-vang-the-gioi-tang-manh-trong-nuoc-on-dinh-5047681.html