Gold bar price increased by 1 million VND per tael after a deep drop

At the end of the trading session on May 13, the price of SJC gold bars was listed by large enterprises at 118.5-120.5 million VND/tael (buy - sell), an increase of 1 million VND/tael in both buying and selling compared to the opening session. The difference between the two buying and selling prices remained at 2 million VND/tael.

In the previous trading session, the price of each tael of gold bar decreased by more than 2 million VND, falling below the 120 million VND/tael mark.

Meanwhile, the price of plain gold rings is listed at 113-115.5 million VND/tael (buy - sell), an increase of 500,000 VND in both buying and selling.

On the international market, the gold price on May 13 was around 3,254 USD/ounce, up 29 USD compared to the previous one. Converted at the exchange rate excluding taxes and fees, the world gold price is equivalent to 102.5 million VND/tael. The difference between domestic and world prices is about 17-18 million VND/tael, depending on the time.

Gold prices rebound after a sharp decline (Photo: Son Tung).

Gold prices rebounded in the trading session on May 13, recovering from a sharp decline a day earlier. The main driver came from the latest US inflation data, increasing the appeal of the precious metal as a safe-haven asset.

According to Bart Melek, head of commodity strategy at TD Securities, gold prices have corrected sharply in the first session of the week due to information about the trade agreement between the US and China. However, he emphasized that current tariffs are still a factor that puts pressure on economic growth.

Swissquote expert Carlo Alberto De Casa also commented that tensions related to trade tariffs are still present. After a period of excitement due to news of tax cuts, the stock market is temporarily slowing down, while the USD is showing signs of adjustment, creating conditions for gold to recover.

Financial markets now expect the US Federal Reserve to continue easing policy in September.

The central rate increased sharply.

At the end of the trading session on May 13, the State Bank announced the central USD/VND exchange rate at 24,973 VND, up 28 VND compared to the previous one. With a margin of 5%, commercial banks are allowed to trade USD in the range of 23,726 VND to 26,220 VND.

Major banks listed stable USD buying and selling prices at 25,750-26,140 VND/USD (buy - sell). Joint stock banks quoted the greenback at 25,750-26,150 VND/USD (buy - sell).

In the free market, the USD price increased slightly, around 26,380-26,500 VND/USD (buy - sell).

Source: https://dantri.com.vn/kinh-doanh/gia-vang-mieng-tang-1-trieu-dong-moi-luong-sau-phien-giam-sau-20250514070532571.htm