Gold prices today (May 30): Continuing their strong upward trend.

Today, May 30th, gold prices, including SJC gold and gold rings, saw a sharp increase compared to the previous day. Meanwhile, world gold prices continued their recovery, at one point reaching $4,590 per ounce.

Gold prices rose sharply today, May 30th.

Gold prices today, May 30th, have regained upward momentum in the early morning hours after several days of sharp declines. Specifically, the selling price of SJC gold bars surged by 1 million VND/ounce compared to early yesterday morning, reaching 158.5 million VND/ounce.

For gold rings, several major brands, including Bao Tin Manh Hai, Bao Tin Minh Chau, and Doji , also simultaneously increased sharply by 500,000 - 1 million VND/ounce compared to yesterday morning, reaching selling prices of 158 - 158.5 million VND/ounce.

Experts believe that domestic gold prices continue to closely follow developments in the global market. Specifically, after a sharp drop in previous days, domestic gold prices have regained upward momentum due to a strong recovery in global gold prices. It is predicted that gold prices may continue to rise higher today, following the global trend.

Gold prices today, May 30th, rose sharply again in the early morning. SJC gold bars and gold rings increased significantly.

As of 6:15 AM on May 30th, at Bao Tin Manh Hai, the price of SJC gold bars was trading at 155.5 - 158.5 million VND/ounce (buy - sell), a sharp increase of 1 million VND/ounce in both buying and selling prices compared to the same time yesterday. The buy-sell spread was 3 million VND/ounce.

The price of SJC gold bars at Doji Group in Hanoi and Ho Chi Minh City is trading around 155.5 - 158.5 million VND/ounce (buy - sell), a sharp increase of 1 million VND/ounce in both buying and selling prices compared to the same time yesterday. The buy-sell spread is 3 million VND/ounce.

At Bao Tin Minh Chau, SJC gold is trading at 155.5 - 158.5 million VND/ounce (buy - sell), a sharp increase of 1 million VND/ounce in both buying and selling prices compared to the same time yesterday. The difference between the buying and selling prices is 3 million VND/ounce.

SJC gold bars at Phu Quy are trading around 155.5 - 158.5 million VND/ounce (buy - sell), a sharp increase of 1 million VND/ounce in both buying and selling prices compared to the same time yesterday. The buy-sell spread is 3 million VND/ounce.

Additionally, the price of SJC gold at Phu Nhuan Jewelry (PNJ) is trading at 155.5 - 158.5 million VND/ounce (buy - sell); the price of SJC gold bars in Hanoi at Asean Jewelry is trading at 155.5 - 158.5 million VND/ounce (buy - sell);...

For gold rings, the price of round gold rings in blister packaging at Bao Tin Manh Hai is trading around 155.5 - 158.5 million VND/ounce, a sharp increase of 1 million VND/ounce in both buying and selling prices compared to the same time yesterday. The buy-sell spread is 3 million VND/ounce.

The price of plain gold rings at Bao Tin Minh Chau is trading at 155.5 - 158.5 million VND/ounce (buy - sell), a sharp increase of 1 million VND/ounce in both buying and selling prices compared to the same time yesterday. The difference between the buying and selling price is 3 million VND.

The price of Doji Hung Thinh Vuong 9999 gold rings from Doji Group in Hanoi is trading at 155.5 - 158.5 million VND/ounce, a sharp increase of 1 million VND/ounce in both buying and selling prices compared to the same time yesterday. The difference between the buying and selling price is 3 million VND.

Today, the price of 999.9 pure gold rings at Phu Quy Company is trading around 155-158 million VND/ounce, a sharp increase of 500,000 VND/ounce in both buying and selling prices compared to the same time yesterday. The buy-sell spread is 3 million VND/ounce.

World gold prices are approaching $4,600 per ounce.

The spot price of gold in the Asian market at 6:15 AM today, May 30th (Vietnam time), was trading around $4,538 per ounce, a sharp increase of $44 per ounce compared to the same time yesterday. Notably, at one point, the world gold price recovered strongly and reached its highest level of the week at $4,590 per ounce.

Source: Trading Economics

According to Kitco News, spot gold prices rose after Friday's close, as a sharp drop in crude oil prices this month eased inflationary pressures, while the US dollar remained stronger.

Personal income in April remained essentially unchanged, with disposable income down 0.1%, personal consumption spending up 0.5%, and the savings rate falling to 2.6%. The PCE price index rose 3.8% year-on-year, while the Chicago PMI in May surged to 62.7 from 49.2, far exceeding the forecast of 50.5.

The combination of these data points has resulted in mixed interest rate signals: consumer spending remains stable, inflation stays above target, and regional manufacturing growth momentum has improved, while lower oil prices and stable Treasury yields have eased immediate pressure on metals.

The Strait of Hormuz remains a key geopolitical conduit for energy, inflation expectations, and precious metals, but markets on Friday traded on the prospect of reopening rather than a new escalation of tensions.

Oil prices fell sharply, the biggest drop since 2020, as traders anticipated a potential agreement between the U.S. and Iran that could extend the ceasefire for another 60 days and gradually restore shipping through the strait. WTI crude closed at nearly $87.36 a barrel and Brent at nearly $92.05 a barrel, marking sharp declines for both benchmarks in May.

For gold, the impact is quite complex: lower oil prices and reduced inflation risk support interest rates for non-yielding assets, but reduced conflict risk lessens safe-haven demand. In other markets, the most noticeable impacts are falling crude oil prices, the US stock market closing at record highs, stable Treasury yields, and a stronger US dollar.

Tom Winmill, a portfolio manager at Midas Discovery Fund, believes that one of the most significant developments supporting the precious metals market is the ongoing decline in confidence in the US dollar as the world's leading reserve currency.

"With the dollar being weaponized and global GDP gradually losing its reliance on the dollar, this trend is likely to continue for some time. If the dollar continues to lose credibility as a reserve currency, it will weaken even further," Winmill said.

In addition, Winmill also pointed out that inflationary pressures and slowing economic growth could ultimately create an ideal environment for gold.

Technically, the next upside price target for spot gold buyers is to push the price back above the $4,550-$4,576/ounce resistance zone, with the goal of sustaining at $4,600/ounce and then $4,660/ounce.

The next short-term downside price target for sellers is a break below $4,526/ounce, with further downside targets at $4,500/ounce and then $4,460/ounce. The first resistance level is seen at $4,550/ounce and then $4,576/ounce. The first support level is seen at $4,526/ounce and then $4,500/ounce.

Source: https://danviet.vn/gia-vang-hom-nay-30-5-tiep-da-tang-manh-d1430803.html