Gold price update closing session 12. 5: Continuous reversal, potential risks

Khương Duy |

Gold price update at the closing session on May 12: SJC gold bars and plain gold rings continuously reverse with a strong amplitude, the buying - selling difference is anchored at a high level.

SJC gold bar price

As of 5:35 PM, SJC gold bar prices were listed by DOJI at 162.5-165.5 million VND/tael (buying - selling), an increase of 300,000 VND/tael in both buying and selling directions. The difference between buying and selling prices is at 3 million VND/tael.

SJC gold bar price is listed by Bao Tin Minh Chau at the threshold of 162.5-165.5 million VND/tael (buying - selling), an increase of 300,000 VND/tael in both buying and selling directions. The difference between buying and selling prices is at the threshold of 3 million VND/tael.

Diễn biến giá vàng SJC những phiên giao dịch gần đây. Biểu đồ: Khương Duy
SJC gold price movements in recent trading sessions. Chart: Khuong Duy

Phu Quy Jewelry Group listed SJC gold bar prices at 162.5-165.5 million VND/tael (buying - selling), an increase of 300,000 VND/tael in both buying and selling directions. The difference between buying and selling prices is at 3 million VND/tael.

9999 gold ring price

As of 5:35 PM, DOJI listed the price of gold rings at 162.5-165.5 million VND/tael (buying - selling), an increase of 300,000 VND/tael in both buying and selling directions. The difference between buying and selling prices is at 3 million VND/tael.

Bao Tin Minh Chau listed the price of gold rings at the threshold of 162.5-165.5 million VND/tael (buying - selling), an increase of 300,000 VND/tael in both buying and selling directions. The difference between buying and selling prices is at the threshold of 3 million VND/tael.

Giá vàng nhẫn trơn tại một số đơn vị kinh doanh. Đơn vị: đồng/lượng. Bảng: Khương Duy
Price of plain gold rings at some business units. Unit: VND/tael. Table: Khuong Duy

Phu Quy Gold and Gems Group listed the price of gold rings at 162.5-165.5 million VND/tael (buying - selling), an increase of 500,000 VND/tael in both buying and selling directions. The difference between buying and selling prices is at 3 million VND/tael.

The buying - selling price difference of gold is at a very high level, around 3 million VND/tael, posing a risk of losses for investors.

Diễn biến giá vàng miếng SJC và vàng nhẫn những phiên giao dịch gần đây. Đồ họa: Khương Duy
SJC gold bar and gold ring price movements in recent trading sessions. Graphics: Khuong Duy

World gold price

At 5:35 PM, world gold prices were listed around the threshold of 4,692.3 USD/ounce, up 36.8 USD compared to the previous day.

Diễn biến giá vàng thế giới những phiên giao dịch gần đây. Biểu đồ: Khương Duy
Developments in world gold prices in recent trading sessions. Chart: Khuong Duy

Gold price forecast

In the context of geopolitical tensions continuing to cast a shadow over the global financial market, world gold prices are being interspersedly affected by oil fluctuations, the strengthening USD and Fed interest rate expectations.

Gold prices fell from a three-week high after the prospect of reaching a peace agreement between the US and Iran became fragile. US President Donald Trump said that the ceasefire with Iran is in a "fragile" state, and rejected Tehran's requests during negotiations. These developments caused oil prices to rise again as the Hormuz Strait has not been fully unlocked.

Mr. Ole Hansen - Commodity Strategy Director of Saxo Bank - said that the main pressure on gold today comes from rising energy prices, pulling US bond yields up before the release of April inflation data (CPI). Along with that, the strengthening USD also makes gold more expensive for investors holding other currencies.

The yield on 10-year US Treasury bonds has reached its highest level in a week, while markets are decreasing expectations that the Fed will cut interest rates this year. According to CME Group's FedWatch tool, traders are even considering the possibility that the Fed will raise interest rates again in 2027.

However, some experts believe that gold still maintains a relatively solid support base. Mr. Ole Hansen assesses that gold prices are currently fluctuating in a wide range, with the support zone forming around the 4,500 USD/ounce mark, while the resistance level is near the 50-day moving average in the 4,757 USD/ounce area.

On the other hand, the silver market attracted strong attention, at one point soaring by more than 7%, to the highest level in two months. The main driving force came from expectations of industrial demand recovery after information that the US and China may reach a temporary tariff truce agreement within 90 days.

According to GoldSilver. com, silver benefits more than gold thanks to about 60% of the demand for this metal coming from the industrial sector such as electric vehicle batteries, semiconductors and solar energy. In the context of global silver supply continuously being in deficit for many years, just a positive trade signal is enough to trigger a strong buying wave in the market.

Experts believe that in the short term, gold prices are still sensitive to US inflation data, oil price fluctuations and new developments in US-Iran relations.

Gold price data is compared to the previous day.

See more news related to gold prices HERE...

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