Gold price update at the closing session on May 21st: Rising but still under a lot of pressure

Khương Duy |

Gold price update at the closing session on May 21: Recovery but the gold market is still under pressure from the USD and US bond yields.

SJC gold bar price

As of 17:00, SJC gold bar prices were listed by DOJI at the threshold of 159.4-162.4 million VND/tael (buying - selling), an increase of 900,000 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 159.4-162.4 million VND/tael (buying - selling), an increase of 400,000 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 159.4-162.4 million VND/tael (buying - selling), an increase of 900,000 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 17:00, DOJI listed the price of gold rings at the threshold of 159.4-162.4 million VND/tael (buying - selling), an increase of 900,000 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 the price of gold rings at 159.4-162.4 million VND/tael (buying - selling), an increase of 400,000 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 Jewelry Group listed the price of gold rings at the threshold of 159.4-162.4 million VND/tael (buying - selling), an increase of 900,000 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.

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 5:00 PM, world gold prices were listed around the threshold of 4, 531.8 USD/ounce, up 35.5 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

World gold prices recovered above the 4,530 USD/ounce mark after a sharp drop to a two-month low, amid market reviews of the monetary policy outlook of the US Federal Reserve (Fed) and tense developments in the Middle East.

The recovery of precious metals appeared when US Treasury bond yields cooled down and oil prices fell sharply by nearly 5%. The market expects the risk of global energy supply disruption to be reduced if the US and Iran reach a conflict-relieving agreement.

US President Donald Trump said the US is moving closer to an agreement to end tensions with Iran. This information is further strengthened after a number of super oil tankers left the Persian Gulf to transport goods to Asia, raising hopes that the Hormuz Strait will soon be reopened.

The plunge in oil prices has partly eased concerns about inflation due to the heating up of energy in recent times. This is considered a factor supporting gold prices, because downward inflationary pressure may make the Fed less tough on interest rate policy.

However, the gold market is still under a lot of pressure as the USD remains at a high level and US bond yields continue to rise. Spot gold prices in the session on May 22 at one point slightly decreased to around 4,536 USD/ounce.

Mr. Han Tan - head of market analysis at Bybit - said that it is not surprising that gold prices are still "stuck" around the 4,000 USD/ounce mark, as the USD has maintained its upward momentum since the Middle East conflict broke out, while inflationary pressure is still present in the global financial market.

According to this expert, the "hawkish" trend in the latest Fed meeting minutes continues to limit gold's upward momentum. "As long as geopolitical instability persists, gold buyers will have difficulty creating significant upward momentum, especially if the risk of interest rate hikes still exists," Mr. Han Tan said.

The minutes of the Fed meeting recently released show that many officials are still open to raising interest rates this year if inflation does not return to the 2% target. The market is currently divided on whether the Fed will raise interest rates at the end of the year or continue to maintain its current policy.

However, some long-term factors still support the gold market. The World Gold Council (WGC) said that global gold demand in Q1/2026 reached 1,230.9 tons - a record high, in which demand for gold bars and gold coins increased sharply thanks to buying power from Asian investors.

J.P. Morgan Global Research also forecasts that central banks may buy about 755 tons of gold in 2026 and still maintain the gold price target of 5,000 USD/ounce in Q4 this year.

Gold price data is compared to the previous day.

See more news related to gold prices HERE...

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