Gold price on May 15: World gold price slides, moving away from the threshold of 3,200 USD/ounce

DNVN - Gold prices today, May 15, 2025, witnessed a sharp decline in the international market as capital flowed massively into US stocks and other markets, after US President Donald Trump made bold moves recently. Meanwhile, SJC gold faced great pressure to decrease in price.

Illustration photo. Photo: Internet

SJC plummets

The domestic gold bar market entered a downward trend. At the end of trading on May 14, the gold price of many brands was VND118 million/tael for buying and VND120 million/tael for selling. Phu Quy SJC currently listed the buying price VND1 million lower than other brands.

In line with the trend, the price of gold rings of many domestic brands also decreased simultaneously. SJC 9999 gold rings recorded a decrease of 500,000 VND in both directions, currently at 112.5 million VND/tael for buying and 115 million VND/tael for selling.

Gold price on May 15, 2025: World gold price slides, moving away from the threshold of 3,200 USD/ounce

Illustration photo. (Photo source: Internet)

DOJI in Hanoi and Ho Chi Minh City markets listed gold rings at a buying price of 112.5 million VND/tael and a selling price of 115 million VND/tael, down 500,000 VND in both directions.

Bao Tin Minh Chau brand gold rings are currently trading at 115.5 million VND/tael for buying and 118.5 million VND/tael for selling, also down 500,000 VND in both directions.

Phu Quy SJC listed the buying price of gold rings at 113.5 million VND/tael and the selling price at 116.5 million VND/tael, down 500,000 VND each way compared to yesterday morning.

In contrast, PNJ brand gold rings maintained the same price as yesterday morning, currently trading at 113 million VND/tael for buying and 115.5 million VND/tael for selling.

World gold price

According to Kitco, at 5:00 a.m. this morning, Vietnam time, the world spot gold price was at 3,181.28 USD/ounce, down 2.14% from the previous day. Converted according to the USD exchange rate on the free market (26,466 VND/USD), the world gold price is about 101.5 million VND/tael (excluding taxes and fees). Thus, domestic SJC gold is currently about 18.5 million VND/tael higher than the world gold price.

Gold prices plunged more than 2% to their lowest level in more than a month as trade confidence recovered, pushing capital out of safe-haven assets like gold, Reuters reported.

“The global rally triggered by the US-China tariff reduction has triggered a technical correction in gold,” said Tai Wong, an independent metals trader.

Wall Street's major indexes opened in the green, benefiting from positive trade signals and expectations of new deals.

Washington and Beijing have agreed to reduce tariffs and implement a 90-day pause to continue negotiations on detailed terms.

US President Donald Trump, in a recent interview, revealed that he may meet directly with Chinese President Xi Jinping to finalize trade deals. He also mentioned ongoing negotiations with India, Japan and South Korea.

Gold, often seen as a safe haven during times of economic and political uncertainty, peaked at $3,500.05 an ounce last month. It is still up 21.6% year-to-date.

“The long-term trend for gold remains bullish, but I wouldn’t be surprised if the current decline continues for a few more days. The first support level is $3,136, followed by $3,073 and finally the crucial $3,000 level,” said Fawad Razaqzada, market analyst at City Index and FOREX.com.

Investors are now awaiting US producer price index (PPI) data, due on Thursday, after weaker-than-expected CPI figures prompted markets to reassess the Federal Reserve's policy path.

Low interest rates typically boost the appeal of gold – a non-yielding asset.

Spot silver fell 1.8% to $32.29 an ounce. Platinum also fell 0.5% to $983.42 an ounce, while palladium edged up 0.1% to $957.65.

Cao Thong

Source: https://doanhnghiepvn.vn/kinh-te/gia-vang-ngay-15-5-vang-the-gioi-truot-doc-roi-xa-nguong-3-200-usd-ounce/20250515070503142