Gold price update at the closing session on May 13: Domestic price drops, world price surges

SJC gold bar price

As of 5:05 PM, SJC gold bar prices were listed by DOJI at the threshold of 162-165 million VND/tael (buying - selling), down 500,000 VND/tael in both buying and selling directions. The difference between buying and selling prices is at the threshold of 3 million VND/tael.

SJC gold bar price was listed by Bao Tin Minh Chau at the threshold of 162-165 million VND/tael (buying - selling), down 500,000 VND/tael in both buying and selling directions. The difference between buying and selling prices is at the threshold of 3 million VND/tael.

Phu Quy Jewelry Group listed SJC gold bar prices at the threshold of 162-165 million VND/tael (buying - selling), down 500,000 VND/tael in both buying and selling directions. The difference between buying and selling prices is at the threshold of 3 million VND/tael.

9999 gold ring price

As of 5:05 PM, DOJI listed the price of gold rings at the threshold of 162-165 million VND/tael (buying - selling), down 500,000 VND/tael in both buying and selling directions. The difference between buying and selling prices is at the threshold of 3 million VND/tael.

Bao Tin Minh Chau listed gold ring prices at the threshold of 162-165 million VND/tael (buying - selling), down 500,000 VND/tael in both buying and selling directions. The difference between buying and selling prices is at the threshold of 3 million VND/tael.

Phu Quy Jewelry Group listed the price of gold rings at the threshold of 162-165 million VND/tael (buying - selling), down 500,000 VND/tael in both buying and selling directions. The difference between buying and selling prices is at the threshold of 3 million VND/tael.

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.

World gold price

At 5:05 PM, world gold prices were listed around the threshold of 4,698.5 USD/ounce, slightly up 6.2 USD compared to the previous day.

Gold price forecast

Pressure from US inflation continues to weaken world gold prices as investors reduce expectations that the US Federal Reserve (Fed) will soon cut interest rates this year. The strengthening USD along with the increase in US Treasury bond yields has put significant pressure on the precious metal.

A recently released report shows that the US consumer price index (CPI) in April increased more strongly than expected. Total inflation increased by 0.6% compared to the previous month and increased by 3.8% compared to the same period last year - the strongest annual increase in the past three years. Escalating energy prices due to conflicts in the Middle East, especially oil prices, continue to be the main factor pushing inflation up.

This development makes the market believe that the Fed will maintain tight monetary policy for longer. According to CME Group's FedWatch tool, traders are almost no longer betting on the possibility of the Fed reducing interest rates in 2026, and even expectations of the possibility of raising interest rates again at the end of the year have emerged.

Mr. Giovanni Staunovo - UBS analyst - said that high inflation data will cause the Fed to continue to keep interest rates unchanged for longer, although the long-term trend still leans towards monetary easing. According to him, this may cause gold prices to fluctuate in a narrow range in the short term.

Besides pressure from monetary policy, the rising USD to its highest level in more than a week also makes gold more expensive for investors holding other currencies. The 10-year US Treasury bond yield maintained around the threshold of 4.5% further reduces the attractiveness of non-performing assets such as gold.

However, the gold market still receives certain support from geopolitical instability in the Middle East. Conflicts related to Iran continue to show no signs of cooling down, while oil prices maintained around high levels have increased concerns about global inflation.

Experts believe that the threshold of 4,700 USD/ounce is playing an important role for gold prices. If this zone is maintained, the precious metal may move towards the resistance zone of 4,757 USD/ounce. Conversely, if it loses the support zone of 4,660-4,680 USD/ounce, gold prices are at risk of falling deeper in the short term.