Gold bar and gold ring prices increased rapidly on the morning of May 24

The domestic gold market continued to fluctuate significantly this morning, May 24.

Gold businesses such as SJC, PNJ, DOJI simultaneously adjusted the price of SJC gold bars to increase to 119 million VND/tael for buying and 121 million VND/tael for selling, an increase of 1 million VND/tael compared to the end of yesterday.

The price of 99.99 gold rings and jewelry gold also decreased but at a slower rate. Currently, the price of gold rings is being traded by businesses at around VND113.5 million/tael (buy) and VND116 million/tael (sell), an increase of VND500,000 per tael compared to the end of yesterday.

Domestic gold prices have been fluctuating continuously in recent days. The price of SJC gold bars increases and decreases faster than the price of gold rings. Currently, the price of SJC gold bars is much higher than that of gold rings, with a difference of up to 5 million VND/tael.

Precious metals in the domestic market fluctuated due to the impact of the strong increase in world gold prices. In the international market, gold prices closed the trading week at 3,358 USD/ounce, up nearly 60 USD/ounce compared to the lowest level of the previous session.

SJC gold bar price increased again to 121 million VND/tael

The strong increase in world gold prices comes from investors' concerns about new tensions over tariffs.

According to analysts, the cause partly comes from President Donald Trump's social media posts, when he mentioned imposing a 25% tax on Apple's iPhone if it is not manufactured in the US; declaring a 50% tax on goods from the European Union (EU) starting June 1 due to trade negotiations not having a solution...

Investors were concerned about the above information and sought gold as a safe haven. In addition, the USD index (DXY) on the free market also fell sharply to 99.1 points, down 0.86% compared to the previous session. These factors pushed gold prices up to the surprise of many investors.

With the latest developments, the world gold price converted according to the listed exchange rate is about 105.8 million VND/tael.

Source: https://nld.com.vn/gia-vang-mieng-vang-nhan-tang-nhanh-trong-sang-24-5-196250524094832957.htm