International gold price slightly adjusted, SJC price is still 120 million VND/tael

Analysts still appreciate the prospects of gold and believe that gold prices are in a state of accumulation and ready to rise again. The real instability began after the rating agency Moody's downgraded the US public debt.

Therefore, although gold prices are still consolidating below last month's historical peak, investors are still looking for alternative safe-haven assets amid growing concerns about the reliability of the USD and US government bonds.

Gold prices are in a state of accumulation and ready to rise again.

The lack of confidence in the US was evident in the USD, as the greenback ended the week at the 99 support level, its lowest level in three weeks. The USD-Index fell to 98.95 points, down nearly 0.2 points from May 25.

With Mr. Trump once again speaking tough on tariffs, it will be a positive factor affecting gold prices. The precious metal gold is expected to continue to rise as investors consider gold as a safe haven asset whenever there is bad news about tariffs.

Gold has not yet surpassed its all-time high set last month, but it has posted solid gains recently as investors seek safe havens amid a decline in confidence in the dollar and U.S. government bonds. Markets are watching the minutes of the Fed’s May meeting for clues on the possibility of a rate cut.

Gold’s safe-haven appeal returned midweek after the U.S. Treasury ’s less-than-successful 20-year bond auction sent the 30-year yield surging above 5% and the yield curve steepening. Meanwhile, the dollar index fell to a three-week low of 99, signaling weakness in the currency.

According to the latest weekly Kitco News gold survey, industry professionals are not bearish on gold prices this week, while retail investors are also bullish after the precious metal’s recent strong performance. This week’s Kitco News survey had 16 Wall Street professionals participating, all of whom turned bearish after gold prices rebounded.

Of those, 13 (81%) predicted gold prices would rise this week, while three (19%) said they would stay the same. None predicted a fall. Kitco's online survey of 245 retail investors also found overwhelming optimism after the recent rally. 155 (63%) predicted gold prices would continue to rise, 52 (21%) said they would fall, and 38 (16%) said they would stay the same in the coming week.

The domestic gold market also adjusted slightly when the price of SJC gold bars was only 117-120 million VND/tael (buy-sell), down about 1 million VND/tael compared to previous weeks. Gold rings decreased by 1 million VND per tael, SJC bought at 112 million VND, sold at 115.1 million VND.

On the morning of May 26, the central exchange rate between VND and USD announced by the State Bank was 24,940 VND, down 20 VND compared to last weekend. The USD price at Vietcombank was kept unchanged at 25,770 VND/USD for buying and 26,130 VND/USD for selling.

Source: https://baodautu.vn/vang-quoc-te-dieu-chinh-nhe-gia-sjc-con-120-trieu-dongluong-d290009.html