Gold price on May 22, 2025: SJC skyrocketed, reaching 121 million VND/tael

Illustration photo. Photo: Internet

Domestic gold price

The gold market on May 21 showed a clear increase in domestic prices. At the end of the session, major brands listed the buying price at VND118.5 million/tael, while the selling price reached VND121 million/tael. Of which, the Phu Quy SJC brand recorded a buying price 500,000 VND lower than other brands.

The price of gold rings of domestic brands is also no less exciting when it increases sharply in both directions. In particular, SJC 9999 gold rings have been adjusted to increase by 1 million VND per tael, up to 112 million VND/tael for buying and 115 million VND/tael for selling.

DOJI in two major cities, Hanoi and Ho Chi Minh City, has adjusted the price of gold rings to increase by 1 million VND/tael for both buying and selling, bringing the price to 112.5 million VND/tael for buying and 115 million VND/tael for selling.

Bao Tin Minh Chau brand gold rings are being traded at 114.5 million VND/tael for buying and 117.5 million VND/tael for selling, an increase of 700,000 VND each way.

Phu Quy SJC is currently buying gold rings at 112.5 million VND/tael and selling at 115.5 million VND/tael, 1 million VND/tael higher than early yesterday morning.

PNJ also announced a new price for gold rings at 112 million VND/tael for buying and 115 million VND/tael for selling, an increase of 1 million VND in both trading directions.

World gold price

According to data from Kitco, the spot gold price on the international market recorded at 5:00 a.m. this morning (Vietnam time) was at 3,311.82 USD/ounce. Compared to the previous day, this price increased by 1.04%. Converted according to the USD exchange rate on the free market (26,292 VND/USD), the world gold price is currently equivalent to about 105 million VND/tael, excluding taxes and fees. Compared to the international price, the price of SJC gold bars is about 16 million VND/tael higher.

The international gold market has just had its third consecutive increase this week and reached a one-week peak thanks to the weakening USD and the wave of seeking safe havens amid increasing geopolitical and economic instability.

The dollar index (.DXY) is down 0.6% against a basket of major currencies, making gold more attractive for investors holding other currencies. Meanwhile, U.S. stocks edged lower and government bond yields rose as investors closely watched the debate over President Donald Trump’s proposed tax cuts, which have raised concerns about rising debt pressures.

“We are temporarily stuck in a range from recent lows to highs, waiting for more clarity on trade and tariffs,” said Daniel Pavilonis, senior market strategist at RJO Futures.

A new Reuters survey of economists shows that the US economic growth outlook remains weak, despite easing US-China trade tensions.

In other news, CNN quoted intelligence sources as saying that Israel is planning an attack on Iran's nuclear facilities, while the Trump administration is still negotiating with Tehran over its uranium enrichment program. In the current context of political and economic instability, gold continues to be considered a safe haven asset. A month ago, the price of gold hit a record high of $3,500.05 per ounce.

“We believe the recent price correction will spur renewed investment demand, as macroeconomic and geopolitical risks remain,” ANZ bank said in a report.

In addition to gold, the precious metals market also recorded strong price increases. Silver prices increased by 1% to $33.40/ounce. Platinum also climbed to $1,075.59 after increasing by 2.1%, reaching its highest level since May 2024. Palladium also followed the trend, increasing by 1.8% to $1,031.05 - the highest level in more than half a year.

China’s platinum imports last month hit a one-year high amid tight global supplies, suggesting a looming shortage, said Fawad Razaqzada, a market analyst at City Index and FOREX.com. Meanwhile, palladium prices climbed amid easing concerns about consumer demand.

Cao Thong

Source: https://doanhnghiepvn.vn/kinh-te/gia-vang-ngay-22-5-2025-sjc-tang-vot-can-moc-121-trieu-dong-luong/20250522081905647