Specifically, updated at 11:50 a.m., Saigon Jewelry Company SJC listed the price of gold rings at 111 - 114 million VND/tael (buy - sell), down 500,000 VND/tael in both buying and selling directions compared to yesterday's closing price.
Bao Tin Minh Chau Company listed the price of gold bars and gold rings at 113.8 - 116.8 million VND/tael (buy - sell), down 400,000 VND/tael in both buying and selling directions compared to yesterday's closing price.
Saigon Jewelry Company SJC, DOJI Group listed the price of SJC gold bars at 116.8 - 119.3 million VND/tael (buy - sell), keeping the listed price in both buying and selling directions unchanged compared to yesterday's closing price.
In the world market, gold prices increased in the session of May 19 due to a weaker USD and demand for safe-haven assets after credit rating agency Moody's downgraded the US Government's credit rating.
At around 0:15 a.m. on May 20 (Vietnam time), spot gold prices increased by 0.9% to $3,229.51/ounce. US gold futures prices increased by 1.5% to $3,233.5/ounce.
On May 16, Moody's downgraded the US rating from Aaa to Aa1, citing significantly higher debt and interest rates than similarly rated countries.
Gold could be a good safe haven in the coming months if the US gets a credit downgrade, said Bob Haberkorn, senior market strategist at RJO Futures.
The dollar index hit its lowest level since May 8, while major Wall Street indexes fell. A weaker U.S. currency makes gold cheaper for holders of other currencies.
Financial markets were also a bit shaken when US Treasury Secretary Scott Bessent said on May 18 that President Donald Trump would impose tariffs at the level he warned on April 2 if trading partners did not negotiate in "good faith".
Gold, seen as a safe-haven asset amid geopolitical and economic uncertainty, has hit record highs several times this year and is up 23.1% year-to-date.
Goldman Sachs maintained its gold price forecast at $3,700/ounce by year-end and $4,000/ounce by mid-2026, partly due to a very modest amount of private sector capital diversifying into gold.
(According to News and People Newspaper)
Source: https://baoyenbai.com.vn/12/350499/Trua-205-gia-vang-nhan-giam-500000-dongluong.aspx
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