Domestic gold bar prices today

Specifically, gold bars from SJC, Bao Tin Manh Hai, PNJ, and DOJI brands are trading at 156 million VND/ounce for buying and 159 million VND/ounce for selling, an increase of 500,000 VND/ounce in both directions compared to yesterday morning.

Phu Quy branded gold bars are trading at 155.5 million VND/ounce for buying and 159 million VND/ounce for selling, an increase of 500,000 VND/ounce in both directions compared to yesterday morning.

Illustration photo: 24h.com.vn

Gold bars

Early morning of May 30th

Early morning of May 31st

Difference

Buy

Sell

Buy

Sell

Buy

Sell

Unit of measurement:

million VND/ounce

Unit of measurement:

Thousand dong/ounce

SJC

155.5

158.5

156

159

+500

+500

Bao Tin Manh Hai

155.5

158.5

156

159

+500

+500

DOJI

155.5

158.5

156

159

+500

+500

PNJ

155.5

158.5

156

159

+500

+500

Phu Quy

155

158.5

155.5

158.5

+500

+500

Domestic gold ring prices today

Following the trend of gold bars, the price of gold rings also increased today across all brands.

Specifically, SJC listed the buying price of gold rings at 155.8 million VND/ounce and the selling price at 158.8 million VND/ounce, an increase of 500,000 VND/ounce in both directions compared to yesterday morning.

The buying price for gold rings from Bao Tin Manh Hai brand is 154.5 million VND/ounce, an increase of 500,000 VND/ounce compared to yesterday morning.

DOJI and PNJ branded gold rings are trading at 156 million VND/ounce for buying and 159 million VND/ounce for selling, an increase of 500,000 VND/ounce in both directions compared to yesterday morning.

Phu Quy brand gold rings are trading at 155.5 million VND/ounce for buying and 158.5 million VND/ounce for selling, an increase of 500,000 VND/ounce in both directions compared to yesterday morning.

Today's world gold price

World gold prices this morning traded at $4,540.3 USD/ounce. Converted using the Vietcombank exchange rate, excluding taxes and fees, the world gold price is equivalent to approximately 145 million VND/ounce, which is about 15 million VND/ounce lower than the domestic gold price.

Illustration photo: kitco.com

Gold prices continued to fluctuate sharply this week, as safe-haven demand stemming from escalating tensions in the Middle East was consistently offset by a stronger US dollar, rising Treasury yields, and renewed concerns about inflation related to the US-Iran conflict.

The upward momentum lasted throughout Monday but began to weaken on Tuesday, as gold failed to continue its gains due to a stronger US dollar and the market turning its attention to key US inflation data for the week.

The sell-off accelerated midweek after new US attacks on Iran pushed oil prices higher, raising concerns about inflation and undermining hopes for a lasting ceasefire. Gold prices fell below $4,500 an ounce on Wednesday, then plunged again on Thursday as traders prepared for the April PCE inflation report and revised first-quarter GDP data.

Gold prices began to recover late Thursday and continued their upward trend on Friday after reports of progress toward a potential deal between the US and Iran helped cool oil prices and ease some inflation concerns for the week.

Kitco News' latest weekly gold survey shows Wall Street is feeling more optimistic about gold's short-term outlook, while public sentiment has shifted to a more pessimistic trend despite gold's recovery at the end of the week.

"Gold prices rebounded on Thursday, along with risk assets, amid hopes for a lasting ceasefire in the Middle East," said Marc Chandler, managing director at Bannockburn Global Forex.

"Extending the ceasefire is seen as positive for gold because it removes a potential source of liquidation – oil exporters, and the liquidity needs of some oil importers," Chandler said.

Naeem Aslam, investment director at Zaye Capital Markets, noted that gold is in a strong position but is also quite sensitive.

“The market is balancing two conflicting signals: easing geopolitical tensions surrounding the Iran conflict and persistently high inflationary pressures,” he said. “White House comments suggesting stable GDP growth of 2.6% over the past four quarters, the Atlanta Federal Reserve’s estimated 3.8% growth for the current quarter, a 10% drop in oil prices in May, and expectations of a rapid decline in oil and gas prices after the conflict ends have partially diminished gold’s emergency safe-haven appeal.”

“Geopolitical channels continue to support gold prices because similar comments confirm that negotiations with Iran remain tied to clear red lines, enriched uranium, and security in the Strait of Hormuz,” Aslam wrote. “This means that gold prices aren’t just fluctuating with inflation; they’re also reacting to shipping routes, energy risks, confidence in the USD, and safe-haven status”...

This week, 12 analysts participated in the Kitco News Gold Survey, with Wall Street sentiment shifting sharply back to optimism after gold prices bounced from key support levels. Nine experts, or 75%, predicted gold prices would rise next week, while two others, representing 17%, predicted a decline. The remaining analyst, representing 8%, predicted prices would remain flat next week.

Meanwhile, Kitco's online poll garnered 39 votes, showing that retail investors are finally abandoning their optimistic majority despite the recovery in gold prices. Seventeen retail investors, or 44%, predicted gold prices would rise next week, while 10 others, or 26%, predicted the precious metal would fall. The remaining 12 investors, representing 31%, predicted gold prices would remain unchanged next week.

Today's silver price

Today's silver price at Phu Quy Gold, Silver and Gemstone Group is listed at 2.851 million VND/ounce (buying price) and 2.939 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 2.42 million VND/ounce (buying price) and 2.45 million VND/ounce (selling price).

In Ho Chi Minh City, the current price of silver is 2.422 million VND/ounce (buying price) and 2.456 million VND/ounce (selling price).

The current world price of silver is 1.981 million VND/ounce (buying price) and 1.986 million VND/ounce (selling price).

On the world market, the price of silver is listed at $75.15 per ounce, down $0.71 from yesterday morning.

    Source: https://www.qdnd.vn/kinh-te/tin-tuc/gia-vang-hom-nay-31-5-tiep-tuc-tang-1042078