Domestic gold prices opened on May 28, Saigon Jewelry Company listed SJC gold price at 36.25 million VND/tael (buy) and 36.44 million VND/tael (sell), down 30,000 VND in both buying and selling directions compared to the end of the trading session on May 27.
Doji Jewelry Group listed at: 36.28 million VND/tael (buy) and 36.38 million VND/tael (sell), down 20,000 VND for selling compared to the end of the previous session.
Bao Tin Minh Chau Jewelry Company listed at: 36.29 million VND/tael (buy) and 36.38 million VND/tael (sell).
World gold prices closed the trading session in the US market early this morning (Hanoi time) at 1,285 USD/oz, down slightly by 2 USD compared to the close of the previous session.
The price of gold delivered in June 2019 on the New York Comex was at 1,287 USD/ounce.
Gold prices today are 1.3% lower (17.5 USD/ounce) than in early 2018. World gold converted to USD is priced at 35.6 million VND/tael, excluding taxes and fees, about 900,000 VND lower than domestic gold.
Domestic and world gold prices have both decreased, however, many economic experts still give market assessments, the opportunity for gold to increase prices is still very large.
The reason is that US President Donald Trump is not ready for a trade deal with China. The US has sanctions on the Middle East, while China is a major investor in projects in the region.
According to Kitco News, the world gold market will escape the current gloom and quickly regain its upward momentum next week. The latest survey by Kitco News on gold price prospects shows that the majority of analysts and investors on Wall Street and Main Street expect gold to increase in price next week (May 27 - 31, 2019).
