Gold bar price anchored around 119 million VND/tael

At the end of the trading session on May 20, the price of SJC gold bars was listed by large enterprises at 116.8-119.3 million VND/tael (buy - sell), unchanged from the previous session. The difference between the two buying and selling directions remained at 2.5 million VND/tael.

However, compared to last weekend, each tael of gold bar increased by 1.3 million VND in buying and increased by 800,000 VND in selling.

The price of plain gold rings is listed at 111-114 million VND/tael (buy - sell), down 500,000 VND in both buying and selling. The difference between the two buying and selling prices is 3 million VND/tael.

Gold bar prices remained unchanged compared to the first trading session of the week (Photo: Thanh Dong).

Domestic prices increased again in the context of world prices increasing beyond 3,200 USD/ounce. Specifically, the gold price in the early morning of May 21 (Vietnam time) was trading around 3,287 USD/ounce, up 57 USD compared to the previous one. Converted at the exchange rate excluding taxes and fees, the world gold price is equivalent to 103.6 million VND/tael. Domestic gold prices are about 16 million VND/tael higher than world prices, depending on the time.

Precious metal prices are poised to rebound, supported by a weaker US dollar, as investors cautiously monitor new signals from Russia-Ukraine peace talks and US tax policy.

In addition, US Federal Reserve officials are carefully weighing the impact of the credit downgrade and market volatility, in the context of the US economy still facing many potential risks. A series of Fed officials are scheduled to speak today, which could provide further signals on the direction of monetary policy in the coming time.

Markets now expect the Fed to cut interest rates by a total of at least 54 basis points this year, with the first adjustment likely to come in October.

USD price fluctuates slightly

At the end of the trading session on May 20, the State Bank announced the central USD exchange rate at 24,968 VND/USD, up 8 VND compared to the previously listed rate. With a 5% band, the USD exchange rate that commercial banks are allowed to trade is 23,730-26,227 VND/USD.

Major banks listed the USD exchange rate at 25,750-26,140 VND (buy - sell), up 20 VND in both buying and selling. Joint stock banks listed the exchange rate at 25,760-26,180 VND (buy - sell).

In the "black market", the USD is traded at 26,340-26,440 VND (buy - sell), up 10 VND in both directions compared to before.

Source: https://dantri.com.vn/kinh-doanh/gia-vang-mieng-neo-quanh-119-trieu-dongluong-20250521014918946.htm