Gold bar price increased by 700,000 VND, approaching 119 million VND/tael

(Dan Tri) - The prices of gold bars and gold rings increased simultaneously despite the world price losing the resistance level of 3,300 USD/ounce. The selling price of gold bars is nearly 5 million VND/tael more expensive than gold rings.

Gold bars are nearly 5 million VND/tael more expensive than gold rings.

At the end of the trading session on May 28, the price of SJC gold bars was listed by large enterprises at 116.2-118.7 million VND/tael (buy - sell), an increase of 700,000 VND compared to the closing price of the previous trading session. The difference between the two buying and selling directions is currently 2.5 million VND.

The price of plain gold rings is listed at 111.3-114 million VND/tael (buy - sell), an increase of 300,000 VND in the buying direction and unchanged in the selling direction. The difference between the buying and selling directions is 2.7 million VND. Thus, the selling price of gold bars is 4.7 million VND/tael more expensive than the selling price of gold rings.

Domestic gold prices increased simultaneously (Photo: Manh Quan).

In the international market, the gold price has now lost the 3,300 USD/ounce mark, trading around 3,297 USD/ounce, down 9 USD compared to before. Converted at the exchange rate excluding taxes and fees, the world gold price is equivalent to 103 million VND/tael.

World gold prices continued to trade at low prices as risk sentiment improved after US President Donald Trump's decision to postpone imposing tariffs on the European Union.

Bart Melek, head of commodity strategy at TD Securities, said gold has been volatile as the tariff talks continue. Now, the market is expecting a deal and that is putting pressure on gold.

According to Tim Waterer, a market analyst at KCM Trade, the price of gold falling below the resistance level of $3,300/ounce has attracted some investors to buy. However, the market sentiment is still quite optimistic thanks to the easing of tensions between the US and the EU, making it difficult for gold to increase sharply in the short term. He commented that if gold can maintain the support zone of $3,250 to $3,280, there is a high possibility of a rebound to $3,400/ounce.

Forecasting gold price trends, according to many experts, the world gold market may have price increases in the context of geopolitical instability and unpredictable US tariff policies.

Uncertainty continues to affect investor sentiment, which is expected to continue to support world gold prices. Along with that, technical factors still favor an upward trend for world gold prices.

Citi and UBS banks also previously forecast the world gold price target at 3,500 USD/ounce this year.

Free USD price increases

The USD-Index, which measures the greenback's strength against a basket of major currencies, rose 0.31% to 99.8. Last week, the index fell nearly 2%.

Domestically, at the end of the trading session on May 28, the State Bank announced the central exchange rate at 24,947 VND/USD, up 12 VND compared to the previously listed rate. With a 5% band, the USD exchange rate that commercial banks are allowed to trade is 23,700-26,194 VND/USD.

Major banks listed the USD exchange rate at 25,750-26,140 VND (buy - sell), up 40 VND each way. Joint stock banks listed the exchange rate at 25,740-26,150 VND (buy - sell).

In the "black market", the USD is traded at 26,260-26,360 VND (buy - sell), up 20 VND each way compared to before.

Source: https://dantri.com.vn/kinh-doanh/gia-vang-mieng-tang-700000-dong-tien-sat-119-trieu-dongluong-20250529005713692.htm