Domestic gold price today 5/25/2024

Early morning of May 25 , SJC 9999 gold price remained unchanged compared to yesterday's closing price, at 89.5 million VND/tael (selling).

The price of 9999 gold was updated by Saigon Jewelry Company Limited (SJC) at 8:22 a.m. and the price of 9999 gold was listed by Doji Jewelry Group at 8:43 a.m. as follows:

Buy Sell
SJC HCMC 87,500,000 VND/tael 89,500,000 VND/tael
Doji Hanoi 87,500,000 VND/tael 89,300,000 VND/tael
Doji HCMC 87,500,000 VND/tael 89,300,000 VND/tael

SJC and Doji gold price list updated early morning May 25

Closing session on May 24, the price of 9999 gold bars at SJC was 87.5 million VND/tael (buy) and 89.5 million VND/tael (sell).

Doji listed at 87.5 million VND/tael (buy) and 89.3 million VND/tael (sell).

Bao Tin Minh Chau listed the price of Golden Dragon gold bars at 75.16-76.66 million VND/tael (buy - sell).

The central exchange rate on May 24, 2024 announced by the State Bank is 24,264 VND/USD, up 6 compared to the previous trading session. The USD price at commercial banks this morning (May 25) was listed at 25,247 VND/USD (buy) and 25,477 VND/USD (sell).

International gold price today 5/25/2024

At 8:27 a.m. today (May 25, Vietnam time), the world spot gold price stood at around 2,333.3 USD/ounce, down 11.7 USD/ounce compared to last night. The gold futures price for August 2024 on the Comex New York floor was at 2,356.9 USD/ounce.

Gold price on Kitco (at 8:00 p.m., May 24, Vietnam time) was trading at $2,345/ounce, up 0.7% from the beginning of the session. Gold futures for August were trading at $2,346/ounce.

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Domestic gold prices decrease. Photo: Chi Hieu

Gold traded at its lowest level in nearly two weeks. Data showed that economic growth was recovering. According to the US Commerce Department, orders for long-lasting goods in the country increased 0.7% last month.

US manufacturing data weighed on gold, making it less attractive as the dollar rebounded.

Despite the better-than-expected economic data, Stephen Brown, deputy North American economist at Capital Economics, said he expects manufacturing activity to slow this year.

Minutes from the Federal Reserve's meeting in early May showed that the pace of inflation targeting 2% is still struggling. Policymakers said the Fed should wait a few more months to ensure inflation reaches its 2% target. Wall Street continues to expect the Fed to start cutting interest rates in September.

The US Dollar Index (DXY) measuring the greenback's performance against six major currencies (EUR, JPY, GBP, CAD, SEK, CHF) stood at 104.78 points. The yield on the benchmark 10-year Treasury note stood at 4.43%.

Gold Price Forecast

Daniel Ghali, an expert at investment bank TD Securities, said the rising USD and the dim prospect of US interest rate cuts prompted investors to take profits, but gold prices did not fall sharply.

According to James Hyerczyk, market analyst at FXE, with economic data and predictions of interest rate adjustment signals from the Fed, gold prices may increase in the short term.