Gold price on May 14: Domestic and world gold prices both increased strongly again

Illustration photo. Photo: Internet

SJC rebounds strongly

The price of gold bars in the domestic market has increased sharply. By the end of May 13, the price of gold bars of major brands was traded at 118.5 million VND/tael for buying and 120.5 million VND/tael for selling. Meanwhile, Phu Quy SJC listed the buying price 1 million VND lower than other brands.

Similarly, the price of gold rings of many brands also increased sharply. Specifically, the price of SJC 9999 gold rings increased by VND500,000 per tael in both directions, with the buying price reaching VND113 million/tael and the selling price being VND115.5 million/tael.

In Hanoi and Ho Chi Minh City markets, DOJI brand gold rings are listed at 113 million VND/tael for buying and 115.5 million VND/tael for selling, an increase of 500,000 VND per tael compared to the previous day.

Bao Tin Minh Chau brand gold rings also increased by 1 million VND in both directions, currently the buying price is 116 million VND/tael and the selling price is 119 million VND/tael.

Phu Quy SJC also increased sharply, currently buying at 114 million VND/tael and selling at 117 million VND/tael, an increase of 1 million VND per tael compared to yesterday morning's session.

PNJ's gold ring price is also listed at 113 million VND/tael for buying and 115.5 million VND/tael for selling, an increase of 500,000 VND in both directions.

World gold price

According to data from Kitco, the world spot gold price recorded at 5:00 a.m. this morning, Vietnam time, reached 3,242.7 USD/ounce, up 0.16% compared to the previous day. According to the current free USD exchange rate (26,469 VND/USD), the converted world gold price is equivalent to about 103.4 million VND/tael (excluding taxes and fees), about 17 million VND/tael lower than the domestic SJC gold price.

“We saw a sharp correction in gold earlier this week after news of a deal between the US and China. However, the 30% tariff on Chinese goods remains, which is still a negative for the economy ,” said Bart Melek, head of commodity strategy at TD Securities.

Earlier on Monday, the US and China announced a 90-day moratorium on new tariffs. After talks in Geneva over the weekend, the US said it would lower tariffs on Chinese goods from 145% to 30%, while China pledged to reduce tariffs on US goods from 125% to 10%.

Gold prices have been hitting new highs in 2025 due to concerns about a global recession stemming from President Donald Trump's tax policies, along with buying from central banks, rising geopolitical tensions and strong capital flows into gold-backed ETFs.

In another development, the US Bureau of Labor Statistics announced on Tuesday that the consumer price index (CPI) rose 0.2% last month, lower than the 0.3% forecast by experts in a Reuters survey.

“This report is somewhat positive for the precious metals market as it is not a report that raises concerns about inflation, which could cause the Federal Reserve to pause on rate cuts,” Kitco Metals senior analyst Jim Wyckoff wrote in a note.

Investors are now expecting the Fed to resume its easy money policy in September. Lower interest rates typically make gold, a non-yielding asset, more attractive to investors.

Silver prices also edged up 0.1% to $32.62 an ounce, while platinum rose 1.4% to $989.95 and palladium edged up 0.2% to $947.24 an ounce.

Cao Thong

Source: https://doanhnghiepvn.vn/kinh-te/gia-vang-ngay-14-5-vang-trong-nuoc-va-the-gioi-cung-tang-manh-tro-lai/20250514074146548