Gold price today May 23, 2025: Domestic and world gold prices fell very quickly from the peak of the past 2 weeks

Domestic gold price today May 23, 2025

At the time of survey at 4:30 a.m. on May 23, 2025, domestic gold prices were holding at a high level compared to yesterday. Specifically:

DOJI Group listed the price of SJC gold bars at 118.5-120.5 million VND/tael (buy - sell), the price remained unchanged in the buying direction - decreased 500 thousand VND/tael in the selling direction compared to yesterday.

At the same time, the price of SJC gold bars was listed by Saigon Jewelry Company Limited - SJC at 118.5-120.5 million VND/tael (buy - sell), the price remained unchanged in the buying direction - decreased 500 thousand VND/tael in the selling direction compared to yesterday.

At Mi Hong Jewelry Company, the price of Mi Hong gold at the time of survey was listed at 118-120 million VND/tael for buying and selling. Compared to yesterday, the gold price decreased by 500 thousand VND/tael for both buying and selling compared to yesterday.

SJC gold price at Bao Tin Minh Chau Company Limited is traded by businesses at 118.5-120.5 million VND/tael (buy - sell), the price remains unchanged in the buying direction - down 500 thousand VND/tael in the selling direction compared to yesterday.

SJC gold price at Phu Quy is traded by businesses at 117.8-120.8 million VND/tael (buy - sell), gold price decreased 200 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 113-115.5 million VND/tael (buy - sell); the price increased by 500,000 VND/tael in both buying and selling directions compared to yesterday.

Bao Tin Minh Chau listed the price of gold rings at 114.8-117.8 million VND/tael (buy - sell); an increase of 300 thousand VND/tael in both buying and selling directions compared to yesterday.

The latest gold price list today, May 23, 2025 is as follows:

World gold price today May 23, 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 3,290.04 USD/ounce. Today's gold price decreased by 8.61 USD/ounce compared to yesterday. Converted according to the USD exchange rate at Vietcombank (26,150 VND/USD), the world gold price is about 107.6 million VND/tael (excluding taxes and fees). Thus, the price of SJC gold bars is 12.9 million VND/tael higher than the international gold price.

The world gold price today reversed sharply after a slight increase to the highest level in nearly 2 weeks at the beginning of the session, under pressure from the rising USD. Specifically, the spot gold price decreased 0.26% to below the 3,300 USD/ounce mark, after reaching the highest level since May 9. Meanwhile, the gold futures price in the US also decreased 0.3% to 3,304.1 USD/ounce.

The gold market has had difficulty in increasing prices because the US labor market remains quite stable. According to the latest report from the US Department of Labor, the number of people filing for unemployment benefits for the first time in the week ending May 17 was 227,000, a slight decrease of 2,000 compared to the previous week. This number is also lower than the forecast of analysts, who expected it to be at 230,000.

The fall in gold prices was partly due to investors taking profits, combined with a slight recovery in the US dollar, which made gold less attractive, according to Ross Norman, an independent analyst. The US dollar rose 0.2% against other currencies, making gold more expensive for foreign currency buyers.

Norman added that the market is concerned about how the US is handling its debt, and if the tax cuts are viewed negatively, gold prices could remain stable. This was further reinforced after Moody's, the world's largest credit rating agency, downgraded the US credit rating due to concerns about the huge $36 trillion debt.

In addition, the US Treasury Department's auction of $16 billion in 20-year bonds yesterday received a weak response from investors, reducing risk sentiment in financial markets. Many people are also concerned that the US public debt will increase by trillions of dollars if Congress passes the tax cut bill proposed by former President Donald Trump.

Meanwhile, Trump's tax-cut and spending bill cleared a key hurdle as the House voted to begin debate, with a formal vote expected later in the morning.

The dollar edged higher while Nymex crude oil prices fell to around $60.25 a barrel. The 10-year Treasury yield is currently at 4.6%. Markets will be looking ahead to a number of key economic data releases during the day, including the weekly jobless claims report, the Chicago Fed economic activity index, the purchasing managers index (PMI), existing home sales and the Kansas City Fed manufacturing survey.

Besides gold, silver fell 0.7% to $33.14 an ounce, platinum fell 0.7% to $1,068.97 and palladium fell sharply by 2% to $1,015.97.

Gold price forecast

Gold prices still have many factors supporting price increases. Demand from central banks of many countries, including China, continues to be a solid support for the gold market.

China is the main driver behind the rise in gold prices, with imports of 127.5 tonnes in April up 73% from the previous month, the highest in nearly a year, according to SP Angel.

China’s central bank has allocated new quotas to commercial banks to boost gold purchases. Insurance companies have also been encouraged to increase their gold reserves, as part of its asset and foreign exchange diversification strategy. Chinese citizens have also increased their gold purchases due to concerns about domestic real estate and the devaluation of the yuan.

However, several factors could put downward pressure on prices in the near term. The situation in the Middle East could become more stable if the US under Donald Trump pursues a strategy to turn the region into an economic and technological hub. This could reduce the demand for safe haven gold.

In Ukraine, peace talks between Russia and Ukraine are gaining momentum. If the conflict eases and global risk sentiment improves, capital could flow back into stocks and cryptocurrencies, making gold lose its appeal.

The US dollar is currently weak, but there is still room to recover if the US Federal Reserve (Fed) changes policy or if the market receives positive signals from trade negotiations.

In the short term, gold prices are still supported by geopolitical uncertainty and recession fears. However, if peace efforts are successful and money flows back to risky investment channels, gold prices could face significant downward pressure.

However, the US-China trade tensions remain an uncertain factor that could keep gold prices from falling too far. Many forecasts suggest that gold prices will fluctuate between $3,200 and $3,300 per ounce in the coming weeks.