Gold price increased by 1.3 million VND in buying direction

Gold prices increased across the board

At the end of the trading session on May 19, the price of SJC gold bars was listed by large enterprises at 116.8-119.3 million VND/tael (buy - sell), an increase of 1.3 million VND for buying and 800,000 VND for selling compared to the end of last week. The difference between the buying and selling prices decreased from 3 million VND to 2.5 million VND/tael.

The price of plain gold rings is listed at 111.5-114.5 million VND/tael (buy - sell), an increase of 500,000 VND in both buying and selling. The difference between the buying and selling prices remains at 3 million VND/tael.

Gold prices increased simultaneously (Photo: Tien Tuan).

Domestic prices increased again in the context of world prices increasing beyond 3,200 USD/ounce. Specifically, the gold price on May 20 was around 3,231 USD/ounce, up 45 USD compared to the previous one. Converted at the exchange rate excluding taxes and fees, the world gold price is equivalent to 101.7 million VND/tael. Domestic gold prices are 17-18 million VND/tael higher than world prices, depending on the time.

The price of precious metals worldwide has gone against the majority of experts' predictions that prices would fall. Last week, the yellow metal "evaporated" nearly 4%. The $3,200/ounce mark became a resistance level that buyers were unable to overcome before the end of the week. Last week also recorded the sharpest weekly decline in gold prices since November last year.

According to Reuters, gold prices increased in the first trading sessions of the week when the USD weakened and new concerns about trade tensions returned after US Treasury Secretary Scott Bessent reaffirmed that President Donald Trump could impose tariffs on partners who do not negotiate in "good faith", increasing demand for safe havens.

Moody's downgraded the U.S. sovereign credit rating last week, the last of the big three rating agencies to do so, citing concerns about America's ballooning debt.

USD price fluctuates slightly

At the end of the trading session on May 19, the State Bank announced the central USD exchange rate at 24,960 VND/USD, up 10 VND compared to the previously listed rate. With a 5% band, the USD exchange rate that commercial banks are allowed to trade is 23,722-26,219 VND/USD.

Major banks listed the USD exchange rate at 25,730-26,120 VND (buy - sell), up 10 VND in the buying direction. Joint stock banks listed the exchange rate at 25,710-26,130 VND (buy - sell).

In the "black market", the USD is traded at 26,320-26,420 VND (buy - sell), down 10 VND in both directions compared to before.

Source: https://dantri.com.vn/kinh-doanh/gia-vang-tang-tiep-13-trieu-dong-o-chieu-thu-mua-20250520001602252.htm