Gold price today May 28: Domestic gold prices decrease by another 1.7 million VND/tael

Khương Duy |

Gold price today May 28: Gold market simultaneously sharply decreased. Domestically, SJC gold bars and gold rings decreased from 1.5 to 1.7 million VND/tael.

SJC gold bar price

As of 9:10 am, SJC gold bar prices were listed by DOJI Group at 156-159 million VND/tael (buying - selling), down 1.7 million VND/tael in both buying and selling directions. The difference between buying and selling prices is at 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

Bao Tin Minh Chau listed SJC gold bar prices at 156-159 million VND/tael (buying - selling), down 1.7 million VND/tael in both buying and selling directions. The difference between buying and selling prices is at 3 million VND/tael.

Phu Quy Jewelry Group listed SJC gold bar prices at 156-159 million VND/tael (buying - selling), down 1.5 million VND/tael on the buying side and down 1.7 million VND/tael on the selling side. The difference between buying and selling prices is at 3 million VND/tael.

9999 gold ring price

As of 9:10 am, DOJI Group listed gold ring prices at 156-159 million VND/tael (buying - selling), down 1.7 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

Bao Tin Minh Chau listed gold ring prices at 156-159 million VND/tael (buying - selling), down 1.7 million 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 156-159 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.

Currently, 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 9:15 am, world gold prices were listed around the threshold of 4,402.1 USD/ounce, down 99.4 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 are under strong downward pressure as safe-haven sentiment weakens, amid cooling oil prices and rising global stock markets.

Investors' expectations that tensions in the Middle East can be controlled, especially related to US-Iran negotiations and the possibility of the Hormuz Strait being reopened, have somewhat reduced the "risk premium" that supported gold in the previous period.

According to analysts, when oil prices fall, inflationary pressure also eases, thereby pulling US bond yields down. However, this factor is not enough to help gold recover, because cash flow is tending to shift to more risky assets such as stocks. The strengthening USD also continues to be a drag on precious metals.

Technically, the 4,453 - 4,484 USD/ounce zone is being considered an important resistance level for spot gold prices. If it crosses this zone, gold prices may head towards higher levels around 4,523 USD/ounce and 4,538 USD/ounce. Conversely, if it loses the support zone of 4,424 USD/ounce, gold prices are at risk of falling deeper back to around 4,404 USD/ounce, even 4,319 USD/ounce.

UBS Bank recently lowered its gold price forecast for the end of 2026 from $5,900/ounce to $5,500/ounce. Experts Dominic Schnider and Wayne Gordon of UBS believe that investors are being more cautious with gold as yields remain high. According to this analysis group, the market is paying attention again to the "opportunity cost" of holding gold - a non-interest asset - in the context that real interest rates are still high.

However, UBS does not believe that the long-term upward trend of gold has ended. Experts believe that demand from central banks, diversification activities away from the USD and geopolitical risks are still factors supporting long-term prospects.

UBS expert Giovanni Staunovo also noted that if geopolitical instability persists while interest rate expectations fall back, gold may still recover significantly in the medium term.

With the domestic market, the high buying-selling spread continues to be a major risk. Investors need to be cautious, avoiding the psychology of chasing when prices fluctuate strongly.

Gold price data is compared to the previous day.

See more news related to gold prices HERE...

Khương Duy
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