Gold price update at the closing session on May 19: Reverse downwards

SJC gold bar price

As of 6:41 PM, SJC gold bar prices were listed by DOJI at 161-163.5 million VND/tael (buying - selling), down 300,000 VND/tael on the buying side and up 300,000 VND/tael on the selling side. The difference between buying and selling prices is at 2.5 million VND/tael.

SJC gold bar price was listed by Bao Tin Minh Chau at the threshold of 160.5-163.5 million VND/tael (buying - selling), down 800,000 VND/tael on the buying side and down 300,000 VND/tael on the selling side. 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 160.5-163.5 million VND/tael (buying - selling), unchanged 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 6:41 PM, DOJI listed the price of gold rings at 160.5-163.5 million VND/tael (buying - selling), down 800,000 VND/tael on the buying side and down 300,000 VND/tael on the selling side. The difference between buying and selling prices is at 3 million VND/tael.

Bao Tin Minh Chau listed the price of gold rings at 160.5-163.5 million VND/tael (buying - selling), down 300,000 VND/tael in both buying and selling directions. The difference between buying and selling prices is at 3 million VND/tael.

Phu Quy Gold and Gems Group listed the price of gold rings at 160.5-163.5 million VND/tael (buying - selling), unchanged 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 2.5 to 3 million VND/tael, posing a risk of losses for investors.

World gold price

At 7:45 PM, world gold prices were listed around the threshold of 4,538 USD/ounce, down 12.6 USD compared to the previous day.

Gold price forecast

Gold prices this week continued to face downward pressure, fluctuating around the lowest level in more than a month and a half due to expectations that the US Federal Reserve (Fed) will raise interest rates and concerns about inflation.

Expert Ricardo Evangelista from ActivTrades commented: "Expections for the Fed to tighten policy due to prolonged tensions in the Persian Gulf are putting pressure on precious metals. Investors will continue to closely monitor US-Iran developments, because any new fluctuations could affect the monetary policy roadmap and gold prices.

The yield of 10-year US Treasury bonds remained around its highest level in more than a year, as energy prices rose due to conflicts in the Middle East, raising concerns about inflation and pushing up interest rate bets.

High yields increased the opportunity cost of holding gold, an unprofitable asset, creating downward pressure. Meanwhile, Brent oil prices remained above 110 USD/barrel despite a session of decline, as the Strait of Hormuz was almost closed.

The market currently puts nearly 38% chance that the Fed will raise interest rates in December, while investors are waiting for the announcement of the latest Fed policy meeting minutes to find clues about the monetary direction. From a geopolitical perspective, US President Donald Trump said he had postponed the plan to attack Iran after Tehran sent a peace proposal, opening up a "very good opportunity" to reach an agreement to limit Iran's nuclear program.

While gold is seen as an inflation hedging tool, experts warn that high interest rates are still a factor hindering the precious metal. The market this week is forecast to continue to fluctuate strongly, sensitive to Middle East news, with gold and silver supported by instability but still under pressure from inflation prospects and monetary policy.