Gold price on May 11, 2025: Domestic and world gold prices increased by nearly 100 USD this week

Domestic gold price today May 11, 2025

At the time of survey at 2:30 p.m. on May 11, 2025, domestic gold prices increased slightly across the board. Specifically:

The price of SJC gold bars listed by DOJI Group is 120-122 million VND/tael (buy - sell), the price remains unchanged in both buying and selling compared to yesterday. The price of gold increased by 700 thousand VND/tael in both buying and selling compared to last week.

At the same time, the price of SJC gold bars was listed by Saigon Jewelry Company Limited - SJC at 120-122 million VND/tael (buy - sell), the gold price remained unchanged in both buying and selling directions compared to yesterday but increased by 700 thousand VND/tael in both buying and selling directions compared to last week.

At Mi Hong Jewelry Company, the price of Mi Hong gold at the time of survey was listed at 120.5-122 million VND/tael for buying and selling. Compared to yesterday, the gold price remained unchanged in both buying and selling directions. Compared to last week, the gold price increased by 2.5 million VND/tael for both buying and selling directions.

SJC gold price at Bao Tin Minh Chau Company Limited is traded by businesses at 120-122 million VND/tael (buying - selling), the price is unchanged in both buying and selling directions compared to yesterday. Gold price increased by 1 million VND/tael in buying direction - increased by 1.7 million VND/tael in selling direction compared to last week.

SJC gold price at Phu Quy is traded by businesses at 119-122 million VND/tael (buying - selling). Gold price has not changed in both buying and selling directions compared to yesterday but increased by 700 thousand VND/tael in both buying and selling directions compared to last week.

As of 2:30 p.m. today, the price of 9999 Hung Thinh Vuong round gold rings at DOJI is listed at 114.5-117 million VND/tael (buy - sell); the price remains unchanged in both buying and selling directions compared to yesterday; increased by 500 thousand VND/tael in both buying and selling directions compared to last week.

Bao Tin Minh Chau listed the price of gold rings at 117-120 million VND/tael (buy - sell); an increase of 400 thousand VND/tael for buying - an increase of 300 thousand VND/tael for selling compared to last week.

The latest gold price list today, May 11, 2025 is as follows:

World gold price today May 11, 2025 and world gold price fluctuation chart in the past 24 hours

According to Kitco, the world gold price recorded at 2:30 p.m. today, Vietnam time, was 3,328.94 USD/ounce. Today's gold price is unchanged from yesterday but increased by 89.67 USD/ounce compared to last week. Converted according to the USD exchange rate at Vietcombank (26,140 VND/USD), the world gold price is about 106.03 million VND/tael (excluding taxes and fees). Thus, the price of SJC gold bars is 15.96 million VND/tael higher than the international gold price.

Gold (XAU/USD) started the week on a strong note, rising nearly 3% in the first two days of the week thanks to safe-haven buying. This was due to escalating geopolitical tensions, including a missile attack near an Israeli airport claimed by Yemen’s Houthi rebels and a response from Israel. At the same time, the conflict between India and Pakistan continued to escalate, prompting investors to seek gold as a hedge.

Gold continued to rise on Tuesday, rising above $3,400 an ounce for the first time in two weeks as the dollar fell in anticipation of a Federal Reserve meeting. However, prices later fell after the US confirmed it would hold high-level trade talks with China this weekend in Geneva.

After the policy meeting, the Fed decided to keep interest rates unchanged at 4.25% - 4.5%, as expected. Fed Chairman Jerome Powell said that short-term inflation is rising due to the impact of tariffs, while emphasizing that the Fed will continue to monitor before making any changes to interest rates. Immediately after the meeting, the possibility of the Fed cutting interest rates in June fell sharply from over 50% to under 20%, pulling the USD to recover and causing gold prices to lose nearly 2% on the day.

The optimism in financial markets continued to be reinforced by news of a trade deal between the US and the UK. President Trump said in a press conference that the US could consider reducing tariffs on Chinese goods if the two sides cooperated well, which put gold on the defensive.

However, in the second half of the week, gold prices rose again as tensions between India and Pakistan escalated seriously. According to BBC, both sides accused each other of using drones and missiles to attack military bases. The number of deaths and injuries in disputed areas continued to rise, raising concerns of a wider conflict.

In a recent statement on the social network Truth Social, President Trump said that the 80% tariff on Chinese goods is "reasonable." Meanwhile, Reuters quoted sources saying that India is proposing to reduce tariffs with the US to below 4% (compared to the current level of nearly 13%) in exchange for being exempted from current tariffs and avoiding additional tariffs in the future. These developments continue to create a volatile market environment in which gold plays a key role as a store of value.

Gold price forecast

The world gold price next week may start with big fluctuations, depending on the results of trade negotiations between the US and China. If both sides agree to postpone some tariffs and show goodwill to continue negotiations, the gold price may be under pressure to decrease.

On the contrary, if the meeting does not bring any positive signals, gold prices will likely increase again due to concerns about continued tensions.

Additionally, if the US reaches new trade agreements with other countries, this could also be a negative factor for gold. US Commerce Secretary Howard Lutnick said that a number of agreements will be announced next month, including one with a major Asian country that is being negotiated.

On Tuesday, the market will focus on the April Consumer Price Index (CPI) report from the US. Both the overall CPI and the core CPI are expected to increase by 0.3% month-on-month. If the core CPI is higher than expected, the US dollar could strengthen, putting downward pressure on gold prices. Conversely, if the index is lower than 0.2%, gold has a chance to gain on the weakness of the US dollar.

In addition to economic factors, investors also closely monitor the geopolitical situation. If the conflict between India and Pakistan or Israel and Iran escalates, gold prices could continue to rise thanks to its safe-haven role.

Other economic data, such as April retail sales and the University of Michigan’s preliminary consumer confidence index, are scheduled for release this week, but are considered to have little impact on gold prices in the long term. However, in the short term, they can still create some volatility if they deviate significantly from expectations.