Gold prices on May 26th: Rising again.

GD&TĐ - Domestic gold prices recovered across the board on May 26, while world gold prices surpassed $4,560 per ounce.

Gold bar price

Brands such as SJC, Bao Tin Minh Chau, Bao Tin Manh Hai, DOJI , and PNJ all increased their gold prices by 500,000 VND/ounce, trading at 159 - 162 million VND/ounce (buying price - selling price).

Phu Quy gold is trading at 158.7-162 million VND/ounce (buy-sell), an increase of 200,000 VND/ounce for buying and 500,000 VND/ounce for selling.

Mi Hong listed gold at 159.2 million VND/ounce for buying and 160.7 million VND/ounce for selling.

Gold ring prices

SJC listed the buying price at 158.5 million VND/ounce and the selling price at 161.5 million VND/ounce, an increase of 500,000 VND/ounce compared to yesterday.

Bao Tin Minh Chau and DOJI are trading at 159-162 million VND/ounce (buy-sell), an increase of 500,000 VND/ounce in both buying and selling prices.

Phu Quy listed gold at 158.7-161.7 million VND/ounce (buy-sell), an increase of 200,000 VND/ounce in both buying and selling prices.

World gold prices

As of 6:00 AM on May 26th (Vietnam time), the spot price of gold in the world market was 4,561.6 USD/ounce, an increase of 53.1 USD/ounce compared to yesterday.

Based on the USD exchange rate at Vietcombank (26,392 VND/USD), the world gold price is approximately 145.2 million VND/ounce (excluding taxes and fees). Compared to the domestic SJC gold bar price on the same day (159-162 million VND/ounce), the current SJC gold price is about 16.8 million VND/ounce higher than the international gold price.

The sharp recovery in gold prices occurred amidst a surprise plunge in the oil market due to expectations that geopolitical tensions in the Middle East might ease.

According to analysts, the cooling oil prices ease pressure on the US Federal Reserve (Fed) to raise interest rates, thereby creating a more favorable environment for gold. In addition, the weakening US dollar also supports demand for the precious metal.

However, analysts believe the market remains volatile as investors continue to monitor the Federal Reserve's interest rate outlook and geopolitical developments in the Middle East.

Source: https://giaoducthoidai.vn/gia-vang-ngay-265-tang-tro-lai-post779109.html