Gold price today May 17, 2025: Domestic and world gold prices increased by 3 million then dropped sharply to near the original level

Domestic gold price today May 17, 2025

At the time of survey at 4:30 a.m. on May 17, 2025, domestic gold prices decreased sharply compared to yesterday. Specifically:

DOJI Group listed the price of SJC gold bars at 115.7-118.7 million VND/tael (buy - sell), an increase of 200 thousand VND/tael for buying - an increase of 500 thousand VND/tael for selling compared to yesterday.

At the same time, the price of SJC gold bars was listed by Saigon Jewelry Company Limited - SJC at 115.7-118.7 million VND/tael (buy - sell), the gold price increased by 200 thousand VND/tael in buying - increased by 500 thousand VND/tael in selling compared to yesterday.

At Mi Hong Jewelry Company, the price of Mi Hong gold at the time of survey was listed at 115-117.5 million VND/tael for buying and selling. Compared to yesterday, the gold price decreased by 800 thousand VND/tael for buying and decreased by 500 thousand VND/tael for selling compared to yesterday.

SJC gold price at Bao Tin Minh Chau Company Limited was traded by the enterprise at 115.7-118.7 million VND/tael (buy - sell), the price increased by 200 thousand VND/tael in buying direction - increased by 500 thousand VND/tael in selling direction compared to yesterday.

SJC gold price at Phu Quy is traded by businesses at 115-118.7 million VND/tael (buy - sell), gold price increased 500 thousand VND/tael in both buying and selling directions compared to yesterday.

As of 4:30 a.m. today, the price of 9999 Hung Thinh Vuong round gold rings at DOJI is listed at 111.7-114.7 million VND/tael (buy - sell); the price increased by 1.2 million VND/tael in both buying and selling directions compared to yesterday.

Bao Tin Minh Chau listed the price of gold rings at 114-117 million VND/tael (buy - sell); an increase of 500 thousand VND/tael in both buying and selling directions compared to yesterday.

The latest gold price list today, May 17, 2025 is as follows:

World gold price today May 17, 2025 and world gold price fluctuation chart in the past 24 hours

According to Kitco, the world gold price recorded at 4:30 am today, Vietnam time, was 3,180.39 USD/ounce. Today's gold price decreased by 11.7 USD/ounce compared to yesterday. Converted according to the USD exchange rate at Vietcombank (26,110 VND/USD), the world gold price is about 101.17 million VND/tael (excluding taxes and fees). Thus, the price of SJC gold bars is 17.53 million VND/tael higher than the international gold price.

The world gold price decreased slightly by 0.37% compared to yesterday, after the University of Michigan reported that the preliminary consumer sentiment index in May reached only 50.8 points, lower than the 52.2 level in April. This figure was also lower than the forecast of economic experts, who expected the index to improve to 53.4. This development continued to strengthen the downward trend of gold prices in the context of the market being pressured by the strong USD and concerns about persistent inflation.

The world gold price also recorded the sharpest weekly decline in the past 6 months. The main reason came from the increase in the value of the USD along with the temporary agreement in the US-China trade war, causing investors to reduce their interest in gold as a safe haven.

Specifically, gold prices this week fell below the important psychological mark of 3,200 USD/Ounce, losing more than 4% of their value compared to last week, the sharpest decline since November 2024. Meanwhile, US gold futures also fell 1.4% to 3,180.9 USD.

According to Nitesh Shah, commodity strategist at WisdomTree, this week saw positive signs from trade negotiations, while the US dollar strengthened, putting downward pressure on gold prices. Earlier this week, the US and China agreed to suspend some tariffs imposed in April, helping to improve financial market sentiment.

Although the dollar index dipped slightly during the day, it still recorded its fourth consecutive weekly gain, making gold less attractive to investors using other currencies. Last month, gold hit an all-time record of $3,500.05 an ounce thanks to buying demand from central banks, trade war concerns and strong investment.

However, this week, slowing inflation data and some weaker-than-expected US economic indicators have reinforced expectations that the Federal Reserve (Fed) may cut interest rates this year, which has been somewhat supportive of gold, as prices tend to rise in low-interest-rate environments.

Despite the fall in gold prices, investors are still taking advantage of the opportunity to buy, showing that gold remains a popular asset due to the uncertain global economic outlook and inflation, according to Tim Waterer, market analyst at KCM Trade.

Besides, silver price also decreased by 1.8% to 32.08 USD/ounce, platinum decreased slightly by 0.5% to 985.1 USD, while palladium lost 1% of its value to 958.24 USD.

Gold price forecast

Technically, the gold market is in a state of balance but the bullish momentum is weakening. The next target for the bulls is to push the price above the strong resistance at $3,300, while the bears want to push the price below the support at $3,100.

According to Suki Cooper, precious metals analyst at Standard Chartered Bank, gold prices may continue to face downward pressure in the short term due to the recovery of the USD. The USD is at its highest level in more than a month, as the market reduces expectations of the Federal Reserve (Fed) cutting interest rates this year.

However, on the long-term outlook for gold, Ms. Cooper said that factors such as ETF inflows, central bank demand and Chinese consumer spending will continue to support gold prices. Although concerns about inflation and economic recession have eased, global economic risks could still push gold prices higher in the future.

Fawad Razaqzada, an analyst at City Index and FOREX.com, predicts that gold prices could fall to $3,000 an ounce in the near term. He recommends investors keep an eye on key support levels at $3,100 and $3,000. However, this correction could be a good buying opportunity, as gold’s long-term uptrend has not been broken.

David Morrison from Trade Nation said gold prices are currently in a "hanging state" due to uncertainties related to the US government's trade policy. Trade tensions not only between the US and China but also with other partners such as Japan, India and South Korea are making investors worried about the global economic outlook.

George Milling-Stanley, chief gold strategist at State Street Global Advisors, said prolonged uncertainty over US trade policy could increase inflation, which could support gold prices in the long run.

Although gold prices fell this week due to improved market sentiment thanks to US-China trade talks, he remains optimistic about the long-term outlook, especially as the US dollar shows no signs of strengthening despite recent positive developments.

Experts are still confident in the prospect of gold prices continuing to rise in the near future due to global economic risks and stable demand from investors. Investors should closely monitor market developments to find buying opportunities at attractive prices.