Gold price on May 19, 2025: Will gold continue to decrease this week?

Illustration photo. Source: INT

Domestic gold price

Domestically, gold bar prices continued to be stable. By the end of May 18, major brands were listing buying prices at VND115.5 million/tael and selling prices at VND118.5 million/tael. Phu Quy SJC gold alone recorded a buying price VND500,000 lower than other brands.

Similarly, the price of gold rings also kept the same buying and selling prices compared to early yesterday morning. For example, SJC 9999 gold rings are still trading at 111 million VND/tael for buying and 114 million VND/tael for selling.

In Hanoi and Ho Chi Minh City, DOJI brand is listing the buying price at 111 million VND/tael and selling price at 114 million VND/tael.

Bao Tin Minh Chau gold ring price is also stable at 114 million VND/tael for buying and 117 million VND/tael for selling.

Meanwhile, Phu Quy SJC is currently trading gold rings at 111.8 million VND/tael for buying and 114.8 million VND/tael for selling, unchanged from early yesterday morning.

The price of PNJ brand gold rings is still listed at 111 million VND/tael for buying and 114 million VND/tael for selling.

World gold price

Data from Kitco shows that at 5 a.m. this morning, Vietnam time, the world spot gold price was at 3,202.77 USD/ounce. Compared to yesterday, the gold price has decreased by 38.1 USD/ounce. When converted according to the exchange rate at Vietcombank (26,110 VND/USD), the world gold price is currently equivalent to about 101.88 million VND/tael (excluding taxes and fees). Thus, domestic SJC gold bars are currently about 16.32 million VND/tael higher than the world gold price.

Risk-on sentiment in the market is on the rise, leading experts and retail investors to predict that gold prices could face another week of decline.

Many believe that the tariff-related news will help to reinforce the optimistic sentiment, thereby putting more pressure on precious metals such as gold. Adam Button, head of currency strategy at Forexlive.com, said that gold prices could fall to $3,000 an ounce.

According to Kevin Grady, president of Phoenix Futures and Options, investor interest in gold is waning and a large number of investors have withdrawn from the market. He predicts that gold prices will likely continue to decline in both the short and medium term, with the possibility of testing the $3,000/ounce threshold.

Gold price on May 19, 2025: Will gold continue to decrease this week?

Illustration photo. (Photo source: Internet)

VR Metals/Resource Letter expert Mark Leibovit was even more pessimistic, saying that gold prices could fall to $2,900 an ounce.

Marc Chandler, CEO of Bannockburn Global Forex, also warned that gold had just experienced its worst weekly decline since November 2024, down 4.25%. "Profit taking could continue. If the $3,120/ounce level is broken, gold could face the risk of falling further to the $3,030-$3,045/ounce range," Chandler said.

Chandler also stressed that the decline in central bank demand for gold is likely to continue as prices are at record highs.

The Main Street online survey also found that 294 investors participated, of which 34% expect prices to rise, 42% predict prices will fall and the remaining 24% think prices will remain flat.

Gold's appeal as a safe-haven asset is waning as market volatility eases, said Alex Kuptsikevich of FxPro. He also noted that if gold holds its 50-day moving average near $3,160 an ounce, the decline could be a short-term correction.

Not everyone is convinced that gold will fall in the short term, however. Barchart.com expert Darin Newsom remains optimistic, saying that central bank demand for gold could sustain the rally.

This week, the market will monitor important economic reports such as unemployment claims and home sales in the US. At the same time, investors are also waiting for statements from members of the US Federal Reserve to predict upcoming policy.

In Vietnam, domestic gold prices can also be affected by international market developments. However, the large gap between domestic and international gold prices may narrow if the State Bank implements measures to tighten management of the gold market.

Cao Thong

Source: https://doanhnghiepvn.vn/kinh-te/gia-vang-ngay-19-5-2025-vang-lieu-co-tiep-tuc-giam-trong-tuan-nay/20250519081043264