At the end of the trading session on May 30, the price of SJC gold bars was listed by large enterprises at 116-118.5 million VND/tael (buy - sell). Yesterday's session, this item was adjusted up by 500,000 VND each way. The difference between the two buying and selling directions remained at 2.5 million VND.
The price of plain gold rings is listed at 111-114 million VND/tael (buy - sell), an increase of 700,000 VND each way. The difference between the two buying and selling directions is 3 million VND. Thus, the selling price of gold bars is 4.5 million VND/tael more expensive than the selling price of gold rings.
Domestic gold prices rebounded despite a sharp drop in world gold prices. In the international market, gold was trading at $3,289/ounce, down $27 from the previous level. Thus, after regaining the $3,300/ounce mark, the precious metal quickly lost this mark.
Converted at the exchange rate excluding taxes and fees, the world gold price is equivalent to 103.5 million VND/tael. The difference between the price of gold bars and the world price is currently around 14.5-15 million VND, while the difference between gold rings fluctuates from 10-13 million VND, depending on the time.
Domestic gold prices fluctuate continuously (Photo: Manh Quan).
Gold prices have been moving sideways as the market reacts to market data and news. A recent report showed that the number of Americans filing new unemployment claims rose more than expected last week. Specifically, according to data from the US Department of Labor, initial jobless claims reached a seasonally adjusted 240,000 in the week ending May 24. This figure is much higher than what experts predicted.
Independent metals trader Tai Wong said the labor market is weakening, forcing the Federal Reserve to cut interest rates soon. According to the minutes of the Fed's May 6-7 policy meeting, officials acknowledged that they may face "difficult decisions" in the coming months, as inflation and unemployment risks rise.
The market is now awaiting U.S. personal consumption expenditure data, due later Friday, which investors will scrutinize for clues about future U.S. monetary policy.
San Francisco Fed President Mary Daly said policymakers could still cut interest rates twice this year, but rates should be held steady in the meantime to ensure inflation stays close to the central bank’s 2% target. Gold typically benefits in a low-interest-rate environment because it does not pay interest.
Mr. Brian Lan, CEO of GoldSilver Central in Singapore, commented: "Gold prices are currently in a correction phase. The current fluctuations are a normal phenomenon of the market, just a slightly wider range of fluctuations due to the recovery of confidence in the USD."
The USD-Index, a measure of the greenback's strength against a basket of major currencies, rose 0.22% to 99.43 points. This index recorded its second consecutive increase. Earlier, the USD rose after the Court of International Trade (CIT) in Manhattan issued a ruling blocking US President Donald Trump's attempt to impose comprehensive import tariffs under the Emergency Economic Powers Act (IEEPA).
Source: https://dantri.com.vn/kinh-doanh/gia-vang-mieng-vot-len-1185-trieu-dongluong-bat-chap-gia-the-gioi-lao-doc-20250530232213867.htm
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