Gold price today May 24, 2025: Domestic and world gold prices have "heated up" when they increased by 40% in just one year

Domestic gold price today May 24, 2025

At the time of survey at 4:30 a.m. on May 24, 2025, the domestic gold price was at the same level as yesterday, but is forecast to increase sharply again to 121 million VND/tael. 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 both buying and selling directions 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 both buying and selling directions compared to yesterday.

At Mi Hong Jewelry Company, the price of Mi Hong gold at the time of survey was listed at 118.5-120.5 million VND/tael for buying and selling. Compared to yesterday, the gold price increased 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 both buying and selling directions compared to yesterday.

SJC gold price at Phu Quy is traded by businesses at 117.5-120.5 million VND/tael (buy - sell), gold price decreased 300 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 112.5-115.5 million VND/tael (buy - sell); the price decreased by 500,000 VND/tael in the buying direction - unchanged in the selling direction compared to yesterday.

Bao Tin Minh Chau listed the price of gold rings at 114.5-117.5 million VND/tael (buy - sell); down 300 thousand VND/tael in both buying and selling directions compared to yesterday.

The latest gold price list today, May 24, 2025 is as follows:

World gold price today 5/24/2025 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 at 3,340.05 USD/ounce. Today's gold price increased by 52.59 USD/ounce compared to yesterday. Converted according to the USD exchange rate at Vietcombank (26,130 VND/USD), the world gold price is about 109.16 million VND/tael (excluding taxes and fees). Thus, the price of SJC gold bars is 11.34 million VND/tael higher than the international gold price.

World gold prices increased by 1.6% today and recorded the strongest weekly increase in the past month and a half, thanks to the weakening USD and concerns about the US fiscal situation causing many investors to flock to this precious metal.

Specifically, the spot gold price approached the psychological level of 3,500 USD/Ounce. This week, the gold price increased by 4%, the highest level since April 7. Meanwhile, the gold futures price in the US also increased by 0.9%, to 3,325.1 USD/Ounce.

Former President Donald Trump’s tax cuts are supporting gold prices, as many fear the policy will negatively impact the US dollar’s ​​fiscal position, according to UBS analyst Giovanni Staunovo. Some investors have shifted from government bonds to gold to diversify their portfolios.

"US 30-year bond yields have risen sharply in recent weeks, reflecting fiscal caution. In this context, safe-haven assets such as gold have naturally benefited," Mr. Staunovo added.

External factors also affected the market, the USD fell 0.5% and had the biggest weekly decline since early April, Nymex crude oil prices were almost flat, fluctuating around 61.25 USD/barrel. The yield on 10-year US Treasury bonds is currently at 4.519%.

The US stock market was once again shaken after two social media posts by former President Donald Trump indirectly supported gold prices. One post warned that iPhone prices would be subject to a 25% tax if not made in the US, while the other said that trade negotiations between the US and the European Union (EU) were deadlocked and the US would impose a 50% tax on the EU from June 1.

The Republican-controlled US House of Representatives passed a massive tax and spending bill on Thursday, implementing much of Mr Trump's agenda but adding trillions of dollars to the national debt. Moody's downgraded the US sovereign credit rating last week over concerns about the country's massive $36 trillion debt.

Uncertainties over the US budget deficit have dampened investor appetite for riskier assets, boosting demand for gold. Technically, spot gold is likely to retest resistance at $3,335 an ounce, according to Reuters analyst Wang Tao. If it breaks through, prices could rise to $3,366.

Meanwhile, spot silver was steady at $33.07 an ounce, while platinum rose 0.8 percent to $1,089.45. Palladium, on the other hand, fell 0.8 percent to $1,006.75.

Gold price forecast

The recent rise in gold prices has been supported by strong cash flows from China, the world's largest gold consumer. Demand from this country is helping to bring gold prices back close to the historic peak reached last month. According to data from Kitco, China imported more than 127 tons of gold last month, the highest in the past 11 months, and up 73% compared to March.

It is worth noting that when the gold price had a slight decrease, Chinese investors took advantage of the opportunity to buy more, contributing to the price recovery to above 3,300 USD/ounce. During the night trading sessions in Shanghai, gold buying activities were active again and even spread to the COMEX floor in the US.

According to VanEck Gold Fund manager Imaru Casanova, gold is currently consolidating around the $3,000/ounce mark to build a solid price base. The recent slight decline from the peak of $3,500/ounce is normal and not a cause for concern. In the near future, VanEck forecasts that gold prices could reach $4,000/ounce in 2025.

Mr. Joseph Cavatoni from the World Gold Council (WGC) commented that the demand for gold will continue to explode strongly in 2025. Not only do central banks continue to increase purchases, but individual and institutional investors are also actively adding gold to their investment portfolios.

According to Mr. Ilya Spivak, global macro expert at Tastylive, as the gold price remains above the $3,200/ounce mark, the long-term uptrend seems to be strengthening. He expects gold to soon return to the $3,450–$3,500/ounce price range in the near future.

However, according to Ms. Suki Cooper, precious metals market analyst at Standard Chartered Bank, there is still a possibility that gold prices will correct down by about 10% by the end of this year. The reason may come from the US implementing economic stimulus policies and the global political situation gradually stabilizing.

Asked whether gold prices have become too hot after rising 40% in just one year, Ms. Cooper said that they are not. She explained that current technical indicators, such as speculative investment and ETF inflows, are still far from the peaks of previous years, suggesting that there is still room for gold prices to continue rising.

However, looking towards the end of 2025, Ms. Cooper believes that there may be some factors that will prevent gold prices from continuing to reach new highs. If the US implements economic support packages and global tensions cool down, gold prices may stagnate and stabilize at high levels, instead of continuing to break out.

However, she still believes that gold prices will remain above $3,000 an ounce. Whether or not a new record is set will depend largely on interest rate developments, the US dollar, and unforeseen risks in the global economy.

Quoc Duong