Domestic gold bar prices today
The SJC, PNJ, DOJI , Bao Tin Manh Hai, and Phu Quy brands all saw a decrease of 3.2 million VND/ounce in both buying and selling prices compared to yesterday morning, trading at 154.5 - 157.5 million VND/ounce (buying - selling).
Illustration photo: tienphong.vn
The price of gold bars in Vietnam, updated this morning, May 29th, is as follows:
Gold bars | Morning of May 28th | Morning of May 29th | Difference | ||||||
Buy | Sell | Buy | Sell | Buy | Sell | ||||
Unit of measurement: million VND/ounce | Unit of measurement: Thousand dong/ounce | ||||||||
SJC | 157.7 | 160.7 | 154.5 | 157.5 | -3,200 | -3,200 | |||
Bao Tin Manh Hai | 157.7 | 160.7 | 154.5 | 157.5 | -3,200 | -3,200 | |||
PNJ | 157.7 | 160.7 | 154.5 | 157.5 | -3,200 | -3,200 | |||
DOJI | 157.7 | 160.7 | 154.5 | 157.5 | -3,200 | -3,200 | |||
Phu Quy SJC | 157.5 | 160.7 | 154.5 | 157.5 | -3,200 | -3,200 | |||
Domestic gold ring prices today
Following the trend of gold bars, the price of gold rings also dropped sharply today across all brands.
Specifically, SJC gold rings traded at 154.3 - 157.3 million VND/ounce (buying price - selling price), a decrease of 2.9 million VND/ounce in both directions compared to yesterday morning.
999.9 gold rings from Bao Tin Manh Hai decreased by 3 million VND/ounce compared to yesterday morning, with the buying price listed at 153 million VND/ounce.
Gold rings from DOJI, PNJ, and Phu Quy are trading at 154.5 - 157.5 million VND/ounce (buying price - selling price), a decrease of 3 million VND/ounce in both directions compared to yesterday morning.
Today's world gold price
World gold prices this morning traded at $4,495.7 per ounce. Converted using the Vietcombank exchange rate, excluding taxes and fees, the world gold price is equivalent to approximately 143.5 million VND per tael, which is about 14 million VND per tael lower than the domestic gold bar price.
Illustration photo: kitco.com
Gold prices rose higher late Thursday, as weaker U.S. economic growth data and a weaker U.S. dollar offset inflationary pressures related to tensions in the Strait of Hormuz and U.S.-Iran relations.
US first-quarter GDP growth was revised down to 1.6% year-on-year from a previous estimate of 2.0%, while April PCE inflation rose 0.4% month-on-month and 3.8% year-on-year. Core PCE inflation increased 0.2% month-on-month and 3.3% year-on-year. The slower growth revision and the lower monthly core PCE index helped gold prices recover from session lows, even as the annual inflation rate remains well above the Federal Reserve's 2% target.
The Strait of Hormuz remains a key geopolitical choke point for the market: a narrow choke in the Persian Gulf where oil tanker traffic, crude oil exports, and inflation expectations are being revalued based on the likelihood of a broader agreement between the U.S. and Iran. A proposed 60-day framework under discussion would extend the ceasefire, reopen shipping lanes without fees, and restart nuclear negotiations, but approval is not yet complete, and clashes around the waterway over the past 48 hours have kept the risk premium high for oil, gold, and interest rates.
The market impact was seen as two-way: Oil prices fell as hopes of military agreements eased some inflation concerns and supported gold prices through lower yields and a weaker US dollar, while any new military talks could push crude oil prices, inflation expectations, and the US dollar higher, a combination that has recently put pressure on non-yielding metals.
However, in an interview with Kitco News, Tom Winmill, portfolio manager at Midas Discovery Fund, said he is not only looking at short-term weakness but also focusing on the fundamental factors driving gold's upward momentum, especially as central banks continue to accumulate gold and the global economy faces increasing structural risks.
“I really don’t see many factors that could put downward pressure on gold in the long term at current price levels,” Winmill said in an interview with Kitco News. “This could be a second bull run for gold.”
Today's silver price
Today's silver price at Phu Quy Gold, Silver and Gemstone Group is listed at 2.768 million VND/ounce (buying price) and 2.854 million VND/ounce (selling price) in Hanoi.
Additionally, according to surveys at other trading locations in Hanoi, the domestic silver price is currently listed at 2.392 million VND/ounce (buying price) and 2.422 million VND/ounce (selling price).
In Ho Chi Minh City, the current price of silver is 2.394 million VND/ounce (buying price) and 2.428 million VND/ounce (selling price).
The current world price of silver is 1.935 million VND/ounce (buying price) and 1.941 million VND/ounce (selling price).
On the world market, the price of silver is listed at $73.09 per ounce, down $3.78 from yesterday morning.
According to the People's Army
Source: https://baoangiang.com.vn/gia-vang-hom-nay-29-05-lao-doc-thang-dung-a487148.html
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