At 10:46 a.m. on May 29, the price of SJC 9999 gold was adjusted up by VND800,000/tael for both buying and selling compared to early this morning, to VND115.5-118 million/tael (buying - selling).

Domestic gold ring prices fell sharply early this morning following the trend of world gold prices but were later adjusted up.

Buy (VND/tael) Increase/decrease Sell ​​(VND/tael) Increase/decrease
SJC 110,300,000 - 1,000,000 113,3000,000 - 700,000
Doji 111,000,000 - 500,000 113,3000,000 - 700,000

                            SJC and Doji gold ring price list updated on the morning of May 29

Opening the trading session on May 29, the price of SJC 9999 gold was adjusted down by 1.5 million VND/tael in both buying and selling compared to the closing price yesterday, to 114.7-117.2 million VND/tael (buying - selling).

Buy (VND/tael) Increase/decrease Sell ​​(VND/tael) Increase/decrease
SJC HCMC 115,500,000 - 700,000 118,000,000 - 700,000
Doji Hanoi 115,500,000 - 700,000 118,000,000 - 700,000
Doji HCMC 115,500,000 - 700,000 118,000,000 - 700,000

                              SJC and Doji gold bar price list updated on the morning of May 29  

The central exchange rate on May 29 announced by the State Bank was 24,962 VND/USD, up 15 VND compared to the previous trading session. The USD price at commercial banks this morning (May 29) was commonly listed at 25,780 VND/USD (buy) and 26,170 VND/USD (sell).

At 8:41 a.m. today (May 29, Vietnam time) , the world spot gold price was at 3,253.2 USD/ounce, down 52.8 USD/ounce compared to last night.

On May 29 , world gold converted to USD bank price was at over 103.6 million VND/tael, including tax and fees, about 13.6 million VND/tael lower than domestic gold price.

As of 8:00 p.m. on May 28 (Vietnam time), the spot gold price today on the international market was at $3,306/ounce. Gold for August 2025 delivery on the Comex New York floor was at $3,341/ounce.

The world gold price on the night of May 28 was about 25.9% higher (equivalent to 681 USD/ounce) than at the end of 2024. World gold converted to the bank USD price was 105 million VND/tael, including taxes and fees, about 13.7 million VND/tael lower than the domestic gold price as of the end of the afternoon session on May 28.

World gold prices increased slightly despite the rapid recovery of the USD. The DXY index increased to nearly 99.9 points, compared to 99.4 points on May 27. The price of SJC gold bars and gold decreased and then increased again, currently at nearly 119 million VND/tael.

Gold rebounded after two sessions of decline thanks to increased bottom-fishing demand for precious metals. However, the increase was quite modest as cash flow is still lurking to find opportunities in high-risk assets, including US stocks.

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World gold prices fluctuate unpredictably. Photo: HH

Investors are betting that the US economy is not as bad as many experts previously feared. Contrary to the rather pessimistic assessments, recent figures show that the US economy is still positive, the labor market is stable, inflation is higher than the 2% target but has not increased again.

Recently, the Donald Trump administration has won many victories in negotiations, from trade to investment.

Trump’s three-day trip to the Middle East from May 13-16 yielded investment deals worth more than $2 trillion, including a $96 billion order for 210 Boeing aircraft from Qatar Airways. In addition, Gulf states pledged to invest heavily in artificial intelligence (AI) technology and infrastructure, creating job opportunities for the United States.

Domestic gold prices increased again. Specifically, by the end of the trading session on May 28, the price of 9999 gold bars at SJC and Doji was listed at 116.2-118.7 million VND/tael (buy - sell), an increase of 400,000 VND/tael in both directions compared to the previous session.

The price of gold rings also increased slightly after two sessions of decline. SJC announced the price of gold rings of type 1-5 at only 111.3-114 million VND/tael (buy - sell), an increase of 300,000 VND in the buying direction; Doji announced the price of gold rings of type 1-5 at only 111.5-114 million VND/tael (buy - sell), an increase of 200,000 VND in the buying direction compared to the previous session.

If the Fed cuts interest rates, gold benefits

World gold prices have slightly increased again but are expected to fluctuate strongly in the short term, following signals from the US, from statements and/or policies of current US President Donald Trump and signals from the US Federal Reserve (Fed).

The Fed kept interest rates at 4.25%-4.5% from December 2024. Keeping interest rates high increases the opportunity cost of holding gold - a non-yielding asset - thereby limiting the price increase of this precious metal.

Investors are waiting for monetary policy signals. If the Fed signals a rate cut, the USD will resume its downtrend, which is a positive factor for gold.

Investors are also watching the outcome of the US-EU and US-Japan negotiations as well as the trade war between Washington and Beijing. Any tough statements from either side could push gold prices up and vice versa.

The situation in Ukraine is also unpredictable after Russia reacted strongly when Mr. Trump warned Mr. Putin was "playing with fire." Deputy Chairman of the Russian Security Council Dmitry Medvedev warned of the risk of World War III.

Technically, the nearest resistance level for gold is $3,324.50 an ounce, which was the high of the session on May 27. The next resistance levels are $3,350 an ounce and solid resistance at $3,400 an ounce. The nearest support level is $3,290 an ounce (the low of May 27) and then $3,275 an ounce.

How to reduce the gap between domestic and international gold prices to 1-2 million/tael? According to experts, if Vietnam establishes a physical gold trading floor, it will both solve the problem of supply, make the market transparent, and bring domestic prices closer to international prices.

Source: https://vietnamnet.vn/gia-vang-hom-nay-29-5-sjc-va-vang-nhan-ra-sao-2405837.html