Gold price on May 11: SJC gold bars return to 122 million VND/tael

(Photo: NGOC BICH)

In the domestic market, at the end of the week, domestic gold brands all increased compared to the same day last week. SJC gold bars are currently trading at 122 million VND/tael; SJC gold rings are trading at 117 million VND/tael.

Specifically, at 10:00 a.m. on May 11, Saigon Jewelry Company (SJC) listed the buying and selling price of SJC gold bars at 120-122 million VND/tael, an increase of 700,000 VND compared to last Sunday. The difference between buying and selling is 2 million VND/tael.

The price of SJC 9999 gold ring closed the week at 114.5 million VND/tael for buying and 117 million VND/tael for selling.

DOJI gold bar price in Hanoi and Ho Chi Minh City is bought at 120 million VND/tael and sold at 122 million VND/tael.

This brand listed the buying and selling price of Doji Hung Thinh Vuong 9999 gold ring at 114.5-117 million VND/tael.

PNJ Gold is currently buying at 114 million VND/tael and selling at 116.6 million VND/tael.

As of 10:00 a.m. on May 11 (Vietnam time), the world gold price increased by 19.9 USD/ounce compared to the previous trading session's close to 3,323.3 USD/ounce.

This week, world gold prices experienced strong fluctuations amid the impact of US-China trade tensions and information related to the monetary policy of the US Federal Reserve (FED).

Kitco News’ latest weekly gold survey shows that experts are evenly split on whether gold prices will rise, fall or move sideways, while a majority of retail investors remain bullish on the precious metal’s outlook for next week.

The continued weakness in the US dollar is a factor that maintains the bullish momentum for gold, said Colin Cieszynski, chief market strategist at SIA Wealth Management.

Also, the UK and FED trade deal did not have a significant impact, so for the gold price trend to reverse, it may take a really bigger impact factor.

For his part, Adrian Day, Chairman of Adrian Day Asset Management, believes that rising concerns about an impending recession in the United States as well as some optimistic signals that the tariff war will continue to “cool down”, especially between China and the United States, could put pressure on gold prices. The expert believes that next week, gold prices will move sideways.

“If I had to pin one prediction analysis to my bulletin board, it would be ‘Precious metals should rise.’ I emphasize the word ‘should’ because there are no absolutes in the market,” said Darin Newsom, senior market analyst at Barchart.com.

Investors continued to buy to defend $3,200 last week and then rallied back to $3,300 this week. So I don’t think buyers are completely out of the woods yet and next week’s resistance could be $3,500, said James Stanley, senior market strategist at Forex.com.

This week, 15 Wall Street analysts participated in the Kitco News Gold Survey. Five experts, or 33%, see gold prices rising next week. Another five analysts see the yellow metal falling. The remaining five (33%) expect gold prices to trade sideways next week.

Meanwhile, 267 Main Street retail investors cast their votes in Kitco News’ online survey. Main Street remains bullish, with 144 investors, or 54%, expecting gold prices to trade higher next week. Seventy-seven investors, or 29%, see prices trading lower. Another 46 investors, or 17%, are neutral.

This morning, the USD-Index was at 100.43 points; the yield on 10-year US Treasury bonds was at 4.381%; US stocks fell, the market cautiously waited for information on the US-China negotiations; world oil prices continued to increase sharply, trading at 63.91 USD/barrel for Brent oil and 61.02 USD/barrel for WTI oil.

Source: https://baothainguyen.vn/kinh-te/202505/gia-vang-ngay-115-vang-mieng-sjc-quay-lai-muc-122-trieu-dongluong-7991280/