Domestic gold prices are soaring.

This morning (May 26), world gold prices reversed course and fell. Domestic gold prices remained unchanged but still hovered high at 121 million VND/ounce for SJC gold bars.

Saigon Jewelry Company listed the price of SJC gold bars at 119 - 121 million VND/ounce for buying and selling, unchanged compared to yesterday morning.

Phu Quy Gold and Gemstone Group listed the price of SJC gold bars at 118 - 121 million VND/ounce.

Many other gold trading businesses also maintained their listed selling price for SJC gold bars at 121 million VND/ounce.

The price of gold rings also remained unchanged from yesterday. Specifically, Bao Tin Minh Chau Co., Ltd. listed the price of gold rings at 115.5 - 118.5 million VND/ounce for buying and selling; Phu Quy Gold, Silver and Gemstone Group listed the price of gold rings at 113 - 116 million VND/ounce.

At the same time, the world gold price was listed at $3,344 per ounce, down $24 per ounce compared to yesterday morning. Currently, the price of SJC gold bars is about 15 million VND per tael higher than the world price.

Many believe that world gold prices will fall in the short term as trade tensions ease.

Domestic gold prices are expected to fall due to several factors. Besides global price influences, the State Bank of Vietnam is currently inspecting gold trading businesses and studying amendments to Decree 24 on gold market management. The goal is to bring domestic gold prices closer to global prices and increase supply to the market.

In the currency market this morning, the State Bank of Vietnam listed the central exchange rate at 24,960 VND/USD.

The reference exchange rate at the State Bank of Vietnam's exchange floor is 23,762 VND for buying and 26,158 VND for selling.

USD exchange rates at Vietcombank: 25,740 - 26,130 VND/USD (buy - sell); Vietinbank: 25,115 - 25,425 VND/USD; BIDV : 25,775 - 26,135 VND/USD.

The US dollar exchange rate on the free market is trading around 26,280 - 26,380 VND/USD for buying and selling.

(According to TPO)

Source: https://baoyenbai.com.vn/12/350728/Gia-vang-tr111ng-nuoc-leo-cao.aspx