Gold price on May 28: SJC gold bars edged up slightly after 2 consecutive sessions of decline

(Photo: THANH DAT)

In the domestic market, after two consecutive sessions of sharp declines, the price of SJC gold bars this morning increased slightly by VND300,000, to VND118.3 million/tael; SJC gold rings remained at VND114 million/tael.

Specifically, at 9:30 a.m. on May 28, Saigon Jewelry Company (SJC) listed the buying and selling price of SJC gold bars at 115.8-118.3 million VND/tael, an increase of 300,000 VND compared to the previous session. The difference between buying and selling is 2.5 million VND/tael.

The price of SJC 9999 gold ring is 111 million VND/tael for buying and 114 million VND/tael for selling, unchanged from yesterday's closing price.

DOJI gold bar price in Hanoi and Ho Chi Minh City is 115.8 million VND/tael for buying and 118.3 million VND/tael for selling.

This brand listed the buying and selling price of Doji Hung Thinh Vuong 9999 gold ring at 111.5-114 million VND/tael.

PNJ Gold is currently buying at 111.3 million VND/tael and selling at 114.4 million VND/tael.

Previously, on May 24, at the Government Standing Committee meeting on gold market management, Prime Minister Pham Minh Chinh emphasized that recently, a number of issues have emerged such as the difference in domestic and international gold prices; some businesses participating in the gold market have manipulated, hoarded goods, and inflated prices...

The Prime Minister directed the State Bank to strengthen management and quickly reduce the difference between domestic and world gold prices to only about 1-2%, and not allow the difference to increase to more than 10% as in the recent past.

Following the direction of Prime Minister Pham Minh Chinh, businesses simultaneously adjusted the price of gold down. Within 3 days, the price of gold has now decreased by nearly 3 million VND/tael.

As of 9:30 a.m. on May 28 (Vietnam time), the world gold price dropped to 3,301.9 USD/ounce.

World gold prices fell sharply this morning amid rising US stocks and an increase in the value of the USD.

The main reason for the plunge in gold prices is the optimistic sentiment in the financial market after the news that US President Donald Trump decided to postpone the imposition of a 50% tax on the European Union until July 9, instead of applying it from June 1 as previously announced.

Trade tensions have shown signs of "cooling down", helping investor sentiment become more positive, causing safe-haven assets such as gold to fall in price.

This morning, the USD-Index increased to 99.78 points; the yield on 10-year US Treasury bonds was at 4.464%; US stocks increased strongly thanks to information about postponing tariffs with the European Union; world oil prices increased slightly as fuel demand in the US entered a period of high growth, trading at 63.97 USD/barrel for Brent oil and 61.32 USD/barrel for WTI oil.

Source: https://baothainguyen.vn/kinh-te/202505/gia-vang-ngay-285-vang-mieng-sjc-nhich-nhe-sau-2-phien-giam-lien-tiep-d9b1aaa/