Gold price on May 19: SJC gold bars increased by 1.3 million VND/tael in buying price

In the domestic market, this morning, domestic gold brands simultaneously increased prices following world price movements. SJC gold bars increased by VND800,000/tael to trade at VND119.3 million/tael; SJC gold rings traded at VND114.5 million/tael.

Specifically, at 11:30 a.m. on May 19, Saigon Jewelry Company (SJC) listed the buying and selling prices of SJC gold bars at VND116.8-119.3 million/tael, up VND1.3 million and VND800,000 respectively compared to the previous session. The buying and selling difference was VND2.5 million/tael.

The price of SJC 9999 gold ring is 111.5 million VND/tael for buying and 114.5 million VND/tael for selling, an increase of 500,000 VND compared to the previous session.

DOJI gold bar prices in Hanoi and Ho Chi Minh City were bought at 116.8 million VND/tael and sold at 119.3 million VND/tael, up 1.3 million VND and 800,000 VND respectively compared to the previous session.

This brand listed the buying and selling price of Doji Hung Thinh Vuong 9999 gold ring at 111.5-114.5 million VND/tael.

PNJ Gold is currently buying at 111.5 million VND/tael and selling at 11.45 million VND/tael, an increase of 500,000 VND compared to the previous closing price.

As of 11:30 a.m. on May 19 (Vietnam time), the world gold price increased by 8.5 USD/ounce compared to the previous trading session's close, down to 3,210.3 USD/ounce.

The global gold price continued to fall last week, making experts and retail investors less optimistic about this precious metal in the short term. Industry experts will be cautious next week, while retail traders have given up on the bullish trend after the recent decline in gold prices.

Of the 16 Wall Street professionals who participated in the latest Kitco News weekly gold survey, only two analysts, or 16%, see gold prices rising this week. Ten, or 63%, see prices falling. The remaining four, or 25%, see a sideways scenario.

Meanwhile, 100 retail traders, or 34%, of the 294 Main Street retail investors, still see gold prices higher this week. 123 investors, or 42%, expect prices to fall. Another 71 investors, or 24%, are neutral.

Gold prices are likely to continue trading lower with a floor above $3,000 an ounce, said Adam Button, head of currency strategy at Forexlive.com.

Adrian Day, chairman of Adrian Day Asset Management, also said that the price of this precious metal is likely to fall further in the coming weeks when the US announces new adjusted tariffs on countries. This decline could be a good opportunity for investors to consider buying, he said.

VR Metals/Resource Letter publisher Mark Leibovit also shares the bearish view, saying that gold may have topped out for now and that a drop to $2,900 is possible.

This morning, the USD-Index slightly decreased to 100.84 points; the yield on 10-year US Treasury bonds was at 4.509%; US stocks fell as large cash flows left; world oil prices continued to climb, trading at 65.11 USD/barrel for Brent oil and 61.74 USD/barrel for WTI oil.

Source: https://baotuyenquang.com.vn/gia-vang-ngay-19-5-vang-mieng-sjc-tang-13-trieu-dong-luong-chieu-mua-vao-212092.html