Gold price update at the closing session on May 20: Signs of recovery

Khương Duy |

Gold price update at the close of the session on May 20th: Domestic and world gold prices decreased compared to the previous day. However, the precious metal is showing signs of recovery at the end of the session.

SJC gold bar price

As of 7:30 PM, SJC gold bar prices were listed by DOJI at 158.5-161.5 million VND/tael (buying - selling), down 2.5 million VND/tael on the buying side and down 2 million VND/tael on the selling side. The difference between buying and selling prices is at 3 million VND/tael.

SJC gold bar price was listed by Bao Tin Minh Chau at the threshold of 159-162 million VND/tael (buying - selling), down 1.5 million 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 158.5-161.5 million VND/tael (buying - selling), down 2 million 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 7:30 PM, DOJI listed the price of gold rings at 158.5-161.5 million VND/tael (buying - selling), down 2 million 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 159-162 million VND/tael (buying - selling), down 1.5 million VND/tael in both buying and selling directions. The difference between buying and selling prices is at 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 158.5-161.5 million VND/tael (buying - selling), down 2 million 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.

Giá vàng miếng SJC và nhẫn trơn tại một số đơn vị kinh doanh. Đơn vị: đồng/lượng. Bảng: Khương Duy
SJC gold bar and plain ring prices at some business units. Unit: VND/tael. Table: Khuong Duy

World gold price

At 7:30 PM, world gold prices were listed around the threshold of 4,496.3 USD/ounce, down 41.7 USD compared to the previous day. However, world gold is showing signs of recovery from a multi-day low.

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

Domestic and world gold prices are experiencing a period of strong fluctuations as a series of unfavorable macroeconomic factors simultaneously impact. World spot gold plunged below 4,500 USD/ounce, marking the lowest level since the end of March, while US interest rates remained high and the USD remained stable, making gold less attractive to international investors.

US inflation data higher than expected has pushed bond yields up sharply, reducing expectations of the Fed's ability to cut interest rates this year. According to CME Group, nearly 97.4% of investors predict the Fed will keep interest rates unchanged at 3.50-3.75% in the June meeting, while the possibility of raising interest rates by the end of the year has also begun to be mentioned.

Expert Lukman Otunuga of FXTM said that if US-Iran negotiations make progress leading to the reopening of the Strait of Hormuz, gold may recover thanks to the weakening USD and concerns about reduced inflation. Conversely, prolonged tensions will make it difficult for gold to increase in price because inflation is still high and pressure to raise interest rates continues.

On the demand side, India's increase in gold import tariffs from 6% to 15% has reduced imports, eliminating an important source of demand for the physical market.

Meanwhile, central banks and Asian retail investors still maintain positive buying activity. J.P. Morgan forecasts a total official purchase volume in 2026 of about 755 tons, with a gold price target of 5,000 USD/ounce by the end of the year and the possibility of reaching 6,000 USD/ounce in the long term.

However, in the short term, gold is still under downward pressure due to breaking the technical support levels of 4,600-4,650 USD/ounce, which may test the next bottom around 4,466-423 USD/ounce. The market is currently waiting for FOMC minutes, PMI and inflation expectations to orient the trend, in the context that geopolitical and energy factors are still unpredictable.

Gold price data is compared to the previous day.

See more news related to gold prices HERE...

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