Gold prices continue to rise.

Saigon Jewelry Company (SJC) increased the price of 9999 gold rings by 150,000 VND per tael, bringing the buying price to 56.55 million VND and the selling price to 57.65 million VND. Meanwhile, the price of SJC gold bars remained unchanged at 66.65 million VND and the selling price to 67.25 million VND. Eximbank bought gold bars at 66.8 million VND and sold them at 67.2 million VND. Conversely, Mi Hong Jewelry Company increased the price of gold bars by 50,000-100,000 VND, bringing the buying price to 66.65 million VND and the selling price to 67.1 million VND… The price of SJC gold bars is 9.7 million VND/tael higher than the world price .

SJC gold bars are priced 9.7 million VND/ounce higher than the world price.

World gold prices rose slightly by $1/ounce on May 16th, reaching $2,017/ounce. During the US trading session (night of May 15th), the precious metal fluctuated within a range of $10/ounce, between $2,012 and $2,022/ounce. The market was volatile as it awaited news on the US debt ceiling negotiations between the White House and Congress , amid concerns that the US government could run out of money as early as June 1st. US Treasury Secretary Yellen stated over the weekend that progress was being made in negotiations between Democrats and Republicans to avoid a financial catastrophe where the US government would be unable to meet its debt obligations.

A US debt default would significantly hinder the Federal Reserve's ability to set short-term interest rates. This is because US government bonds are key to how the central bank targets short-term interest rates. Anything that disrupts the Treasury bond market could upset those mechanisms. The debt ceiling crisis and the possibility of default continue to heavily support gold prices above $2,000 per ounce.

The gold market is watching two gold mining companies prepare to merge. Newmont Mining is acquiring Australia's Newcrest Mining, completing the largest gold mining acquisition deal ever and creating the world's largest gold mining operation.

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