Gold price on May 30: All increased again

(Photo: NGOC BICH)

(Photo: NGOC BICH)

Specifically, at 10:30 a.m. on May 30, 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, an increase of 700,000 VND compared to yesterday's closing price.

DOJI gold bar price in Hanoi and Ho Chi Minh City is 116.5 million VND/tael for buying and 119 million VND/tael for selling, an increase of 1 million VND/tael.

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 111.2 million VND/tael and selling at 114 million VND/tael, up 900,000 VND and 600,000 VND respectively compared to yesterday's closing price.

Recently, following the direction of General Secretary To Lam at the working session with the Central Policy and Strategy Committee on mechanisms and policies for effective management of the gold market on the afternoon of May 28, the domestic gold bar price was adjusted down by VND 700,000/tael on May 29, but immediately increased by VND 500,000/tael this morning.

Currently, the domestic gold bar price is about 14 million VND/tael higher than the world price.

The General Secretary stated that in the coming time, it is necessary to eliminate the State monopoly on gold bar brands in a controlled manner on the principle that the State still manages gold bar production activities, but can license many qualified enterprises to participate in gold bar production in order to create an environment of equal competition, thereby helping to diversify supply sources and stabilize prices. At the same time, expand the right to controlled import to increase gold supply, contributing to reducing the gap between domestic and world gold prices, and at the same time limiting gold smuggling across the border.

The General Secretary emphasized that the State Bank, the Central Policy and Strategy Committee and relevant agencies need to focus on research and refer to international experience to propose the establishment of a National Gold Exchange or allow gold to be traded on the Commodity Exchange; or establish a Gold Exchange in the International Financial Center in Vietnam.

In addition, the above units need to study and apply taxes on gold trading transactions to improve market transparency, the ability of management agencies to monitor the market and limit gold trading for speculative purposes; study to eliminate export tax on gold jewelry to encourage the development of production and export of gold jewelry in Vietnam.

As of 10:30 a.m. on May 30 (Vietnam time), the world gold price increased by 12.5 USD to 3,298.9 USD/ounce.

World gold prices reversed to increase this morning amid a weaker USD and less attractive bond yields. In addition, the latest published data showing that the US labor market is weakening is also a catalyst for gold prices to increase.

Specifically, the number of Americans filing new claims for unemployment benefits increased more than expected last week. According to data from the US Department of Labor, initial jobless claims reached a seasonally adjusted 240,000 in the week ending May 24, much higher than experts' forecasts.

This morning, the USD-Index increased to 99.40 points; the yield on 10-year US Treasury bonds was at 4.418%; US stocks rose after the court blocked the tax decree; world oil prices continued to increase slightly, trading at 63.05 USD/barrel for Brent oil and 60.65 USD/barrel for WTI oil.

Source: https://baotuyenquang.com.vn/gia-vang-ngay-30-5-dong-loat-tang-tro-lai-212775.html