Gold price on May 25: Strong increase back to 121 million VND/tael

(Photo: NGOC BICH)

In the domestic market, the price of SJC gold bars closed the week at 121 million VND/tael; SJC gold rings were traded at 116 million VND/tael.

Thus, the price of SJC gold bars increased by 3.5 million VND for buying and 2.5 million VND (selling) compared to the end of last week.

Specifically, at 9:30 a.m. on May 25, Saigon Jewelry Company (SJC) listed the buying and selling price of SJC gold bars at 119-121 million VND/tael. The difference between buying and selling is 2 million VND/tael.

SJC 9999 gold ring price is 113.5 million VND/tael for buying and 116 million VND/tael for selling.

DOJI gold bar price in Hanoi and Ho Chi Minh City is bought at 119 million VND/tael and sold at 121 million VND/tael.

This brand listed the buying and selling price of Doji Hung Thinh Vuong 9999 gold ring at 113.5-116 million VND/tael.

PNJ Gold is currently buying at 113 million VND/tael and selling at 116 million VND/tael.

As of 9:30 a.m. on May 25 (Vietnam time), the world gold price increased by 62.2 USD/ounce compared to the previous trading session's close to 3,356.9 USD/ounce.

World gold prices increased sharply this morning in the context of investors pouring into gold as a safe haven asset in the face of tough tariff moves by US President Donald Trump; concerns about the reliability of the USD and US bonds.

Gold prices have consolidated and are poised to move higher again, said Rich Checkan, chairman and CEO of Asset Strategies International.

Colin Cieszynski, chief market strategist at SIA Wealth Management, said that renewed trade tensions would be good for gold. "With President Donald Trump once again expressing a tough stance on tariffs, the coming weeks could be a bullish scenario for gold," said Colin Cieszynski.

For his part, James Stanley, senior market strategist at Forex.com, said that $3,500 is a key level as the price is moving towards the upside and that is the level that buyers need to overcome before they can start moving towards $4,000.

Adam Button, director of currency strategy at Forexlive.com, also said that gold prices will continue to rise because the market considers bullion as the preferred asset when there is news about tariff tensions.

This week, 16 Wall Street analysts participated in the latest Kitco News Weekly Gold Survey. Wall Street experts have all but abandoned their bearish stance on the precious metal after a week of rising prices. Thirteen analysts, or 81%, see gold prices rising next week, while three analysts, or 19%, see prices moving sideways. None see the yellow metal falling.

Meanwhile, on Main Street, 155 retail investors, or 63%, of the 245 investors who participated in Kitco News’ online poll, expect gold prices to rise next week. Fifty-two, or 21%, expect gold to trade lower. The remaining 38 investors, or 16%, are neutral.

This morning, the USD-Index fell to 99.11 points; the yield on 10-year US Treasury bonds was at 4.507%; US stocks were "on fire" due to new tariff information; world oil prices increased as fuel demand in the US entered a period of high growth, trading at 64.78 USD/barrel for Brent oil and 61.53 USD/barrel for WTI oil.

Source: https://baotuyenquang.com.vn/gia-vang-ngay-25-5-tang-manh-tro-lai-muc-121-trieu-dong-luong-212475.html