Gold price increased by 1.7 million VND, up to 121 million VND/tael

(Dan Tri) - The price of gold bars and gold rings increased simultaneously when the world's precious metal exceeded 3,300 USD/ounce in the context of a weaker USD and a loss of US stocks.

Gold prices increased across the board

At the end of the trading session on May 21, the price of SJC gold bars was listed by large enterprises at 118.5-121 million VND/tael (buy - sell), an increase of 1.7 million VND in both buying and selling directions. The difference between the buying and selling directions remained at 2.5 million VND/tael.

The price of plain gold rings increased with a lower amplitude, at 1 million VND each way, listed at 112-115 million VND/tael (buy - sell). The difference between the two buying and selling directions remained at 3 million VND/tael.

Gold bar price up to 121 million VND/tael (Photo: Thanh Dong).

Domestic gold prices increased simultaneously in the context of a sharp increase in world gold prices, exceeding 3,300 USD/ounce. Accordingly, the gold price reached 3,304 USD/ounce, an increase of 14 USD compared to the previous one. Converted at the exchange rate excluding taxes and fees, the world gold price is equivalent to 104 million VND/tael. The domestic price is 17 million VND/tael more expensive than the world price.

Gold prices rose as the US dollar weakened and US stocks lost ground amid heightened economic and political uncertainty.

Specifically, the USD-Index - a measure of the greenback's strength against a basket of major currencies - fell 0.62% in today's session, to 99.4 points. This currency continued to be under pressure when last weekend, credit rating agency Moody's downgraded the US rating by one notch due to concerns about the growing debt of the US government.

However, experts also noted that the Moody's credit rating news will likely subside quickly and the market's attention will then focus more on inflation concerns and whether the US Federal Reserve (Fed) will keep interest rates unchanged. A less dovish Fed scenario will be a negative factor for the gold market in the coming time.

Central rate decreased

At the end of the trading session on May 21, the State Bank announced the central USD exchange rate at 24,962 VND/USD, down 6 VND compared to the previously listed rate. With a 5% band, the USD exchange rate that commercial banks are allowed to trade is 23,714-26,210 VND/USD.

Major banks listed the USD exchange rate at 25,750-26,140 VND (buy - sell), unchanged from before. Joint stock banks listed the exchange rate at 25,760-26,180 VND (buy - sell).

In the "black market", the USD is traded at 26,320-26,430 VND (buy - sell), down 20 VND in the buying direction and 10 VND in the selling direction compared to before.

Source: https://dantri.com.vn/kinh-doanh/gia-vang-tang-17-trieu-dong-len-121-trieu-dongluong-20250522001114683.htm