Gold price today May 16, 2025: Domestic and world gold prices increase again from 100 million VND

Domestic gold price today 5/16/2025

At the time of survey at 4:30 a.m. on May 16, 2025, domestic gold prices decreased sharply compared to yesterday. Specifically:

DOJI Group listed the price of SJC gold bars at 115.5-118.2 million VND/tael (buy - sell), a decrease of 2.5 million VND/tael in buying - a decrease of 1.8 million VND/tael in selling compared to yesterday.

At the same time, the price of SJC gold bars was listed by Saigon Jewelry Company Limited - SJC at 115.5-118.2 million VND/tael (buy - sell), the gold price decreased by 2.5 million VND/tael in the buying direction - decreased by 1.8 million 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 115.8-118 million VND/tael for buying and selling. Compared to yesterday, the gold price decreased by 2.2 million VND/tael for buying and 1.7 million VND/tael for selling compared to yesterday.

SJC gold price at Bao Tin Minh Chau Company Limited is traded by businesses at 115.5-118.2 million VND/tael (buy - sell), the price decreased by 2.5 million VND/tael in buying direction - decreased by 1.8 million VND/tael in selling direction compared to yesterday.

SJC gold price at Phu Quy is traded by businesses at 114.5-118.2 million VND/tael (buy - sell), gold price decreased 2.5 million VND/tael in buying direction - decreased 1.8 million VND/tael in selling direction 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 110.5-113.5 million VND/tael (buy - sell); the price decreased by 2 million VND/tael in the buying direction - decreased by 1.5 million VND/tael in the selling direction compared to yesterday.

Bao Tin Minh Chau listed the price of gold rings at 113-116 million VND/tael (buy - sell); down 2.5 million VND/tael in both buying and selling compared to yesterday.

The latest gold price list today, May 16, 2025 is as follows:

World gold price today May 16, 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 3,192.09 USD/ounce. Today's gold price increased by 0.5 USD/ounce compared to yesterday. Converted according to the USD exchange rate at Vietcombank (26,110 VND/USD), the world gold price is about 101.54 million VND/tael (excluding taxes and fees). Thus, the price of SJC gold bars is 16.68 million VND/tael higher than the international gold price.

World gold prices recovered after a sharp decline yesterday. After US PPI inflation data and US Retail Sales fell short of expectations, paving the way for the Federal Reserve (Fed) to cut interest rates this year.

The producer price index (PPI) fell 0.5% in April, following a 0.4% decline in March, according to data from the US Department of Labor. This was much lower than analysts' forecasts for a 0.2% increase. Compared to the same period last year, producer inflation rose just 2.4%, lower than the expected 2.5%.

Retail sales rose a modest 0.1% in April, following a revised 1.7% gain in March, the Commerce Department said, beating analysts' expectations that sales would not increase in April.

Gold prices rebounded on weak inflation data, with spot gold up 0.02% after hitting its lowest since April 10. Meanwhile, US gold futures edged down 0.3% to $3,179.2 an ounce.

Gold’s recent rally is largely due to investors closing out short positions, according to Fawad Razaqzada, a market analyst at City Index and FOREX.com. He also said a weaker US dollar may have helped spur demand for gold.

The market currently expects the Fed to cut interest rates by about 50 basis points this year, with the first reduction likely to come in October. Gold prices tend to rise in low-interest-rate environments because they do not yield interest income.

Silver prices fell slightly by 0.4% to $32.09 an ounce, while palladium rose 0.6% to $956.58. Platinum prices also rose 0.7% to $982.53.

Gold Price Forecast

Experts say gold prices could continue to rise in the coming time if economic indicators continue to show instability in the manufacturing sector. However, the extent of the increase will depend on many other factors such as interest rate developments and the value of the USD.

In fact, gold prices are on the rise again, reaching $3,192 an ounce after tensions between Ukraine and Russia escalated during talks in Türkiye. Trump said that peace talks between Ukraine and Russia would not progress unless he met directly with Russian President Putin. Zelenskyy, meanwhile, has shown no interest in the current round of talks.

In Asia, demand from gold ETFs, especially in China, remained strong, with the latest transaction marking the largest inflow since April 24, despite positive developments in US-China negotiations.

According to TD Securities, the current change in the structure of gold buyers suggests that the possibility of a decline in gold prices will be limited, and that gold price movements clearly reflect the long-term macro trend. The US dollar remains the key reserve currency, but is gradually losing its role as a tool to protect value.

Institutional investors and hedge funds such as CTAs remain long gold positions and will not sell unless the price of gold falls sharply to around $3,050/ounce, which further reinforces expectations that gold prices will remain stable in the near term.

Forecasting domestic gold prices, according to financial expert Phan Dung Khanh, SJC gold bar prices may decrease following the trend of world gold prices, but this is unlikely to happen in the near future. Currently, the gap between domestic and international gold prices is still high and not really reasonable. However, intervention measures from the State Bank and the Government are starting to take effect.

Closing the gap between domestic and international gold prices is a process that takes time and cannot be achieved immediately. The policy goal is to help domestic gold prices move closer to global prices, not to force prices down to match international prices.

Quoc Duong