The price of SJC gold at businesses at noon on May 25 decreased slightly. Currently, the price of this gold brand is listed by Phu Nhuan Jewelry Company, Phu Quy Group at 87.60 - 89.25 million VND/tael, down 100 thousand VND/tael for buying and down 100 thousand VND/tael for selling compared to yesterday's trading session.

SJC gold price listed by Bao Tin Minh Chau Company and Bao Tin Manh Hai Company is around 87.65 - 89.30 million VND/tael, down 100,000 VND/tael for buying and down 100,000 VND/tael for selling compared to yesterday.

In contrast to the downward trend of SJC gold prices, the price of 999.9 gold rings today reversed and increased slightly with prices depending on each enterprise. Specifically, the Thang Long Dragon Gold ring of Bao Tin Minh Chau Company; the Kim Gia Bao ring of Bao Tin Manh Hai Company are currently trading at 75.16 - 76.66 million VND/tael for buying and selling, an increase of 80 thousand VND/tael for buying and an increase of 80 thousand VND/tael for selling compared to yesterday.

Gold price traded at Bao Tin Manh Hai

The price of Phu Quy 999.9 round gold ring and Phu Quy 1 tael 999.9 of Phu Quy Group is trading around 75.15 - 76.65 million VND/tael; an increase of 50 thousand VND/tael for buying and an increase of 50 thousand VND/tael for selling compared to yesterday.

On the world market this afternoon (May 25, Vietnam time), the world spot gold price stood at around 2,333 USD/ounce, down 11.7 USD/ounce compared to last night. The price of gold futures for August 2024 on the Comex New York floor was at 2,356.9 USD/ounce.

World gold price chart (Source: Kitco)

Converted at the current exchange rate at Vietcombank, the world gold price is about 70.79 million VND/tael (excluding taxes and fees). Thus, the price of SJC gold bars is still 16.70 million VND/tael higher than the international gold price.

World gold prices rose slightly this morning thanks to positive economic news. In April, US durable goods orders increased by 0.7% compared to the previous month, contrary to the experts' forecast of a 0.8% decrease.

A recent survey by the University of Michigan (USA) shows that consumers have mixed expectations about inflation trends. The USD Index - a measure of the strength of the USD compared to 6 other currencies - is still in a downward trend; falling US bond yields are encouraging investors to shift capital to precious metals.

A weaker dollar provided a boost to the precious metal in the final trading session of the week, but gold prices still posted their first weekly decline in three weeks and their worst in more than five months as expectations for a rate cut this year dimmed after the release of the minutes of the most recent meeting.

Policymakers debated whether current interest rates were sufficiently restrictive to cool inflation, according to the minutes.

Although recent Fed officials have agreed to keep interest rates higher for longer, a rate hike is unlikely.

However, the latest minutes pointed to the possibility of the Fed raising interest rates amid “persistent” inflation. After the report, traders pushed back the expected rate cut this year to November.