Editor’s Note
This article reports on the closing prices for both domestic (Vietnam) and international gold markets on June 1, 2025, noting a trend of stability for the precious metal.
On June 1, 2025, the price of SJC gold in Vietnam remained stable at 118.2 million VND per tael, while the world gold price also showed stability at $3,291.99 per ounce.
As of 5:00 PM on May 31, 2025, gold prices showed a slight downward trend, with SJC gold trading around 118 million VND per tael. According to the latest gold price information on May 31, 2025, major gold trading companies simultaneously lowered both their buying and selling prices. Details are as follows:
The price of gold bars from Saigon Jewelry Company Limited (SJC) is trading at 115.7 million – 118.2 million VND per tael (buying price – selling price). Compared to yesterday, the gold price decreased by 300,000 VND per tael for both buying and selling.
Meanwhile, Doji Group set today’s (May 31, 2025) gold price at 115.7 million – 118.2 million VND per tael (buying price – selling price), which is a decrease of 300,000 VND per tael for both buying and selling prices compared to the previous day.
At the time of the survey, Mi Hong Jewelry Company recorded the SJC gold price at 115.7 million – 117.5 million VND per tael (buying price – selling price). The gold price decreased by 300,000 VND per tael for buying and 500,000 VND per tael for selling compared to yesterday.
Bao Tin Minh Chau Company Limited is trading SJC gold at 115.7 million – 118.2 million VND per tael (buy-sell), a decrease of 300,000 VND per tael for both buying and selling prices compared to May 30, 2025.
Meanwhile, Phu Quy Jewelry Company announced today’s (May 31, 2025) gold price at 115.0 million – 118.2 million VND per tael (buying price – selling price). The gold price decreased by 500,000 VND per tael for buying and 300,000 VND per tael for selling compared to yesterday.
At PNJ, the SJC gold price is trading at 115.5 million – 118.0 million VND per tael (buying price – selling price), a decrease of 700,000 VND per tael for both buying and selling prices compared to the previous day, reflecting the overall downward trend in the market.
VietinBank Gold announced the selling price of SJC gold at 118.2 million VND per tael, a decrease of 300,000 VND per tael compared to the previous day, while the buying price was not recorded at the time of the survey.
Today, the domestic gold market is influenced by fluctuations in international gold prices and macroeconomic factors. As of May 31, 2025, gold prices show a slight downward trend, offering investors an opportunity to consider market entry timing.
As of 5:00 PM (Vietnam time) on May 31, 2025, the spot gold price recorded by Kitco was $3,291.99 per ounce. Applying the free market exchange rate (26,200 VND/USD), the world gold price is equivalent to approximately 104.16 million VND per tael (excluding taxes and fees). Compared to the domestic SJC gold bar price on the same day (115.7 million – 118.2 million VND per tael), the current SJC gold price is about 14.04 million VND higher than the international gold price.
On May 30, gold prices fell slightly due to the impact of a strong US dollar. This situation has made investors more cautious, influenced by sentiment as they await the release of key US inflation-related indicators that could affect the Federal Reserve’s monetary policy. According to the survey, spot gold prices fell about 0.6% to $3,295.99 per ounce. For the week, gold prices fell a total of 1.8%.
US gold futures were no exception, falling 0.6% to $3,294.20. The dollar rose 0.2% against other currencies, making gold more expensive for overseas buyers. Carsten Menke, an analyst at Julius Baer, mentioned this morning that a slight rise in the dollar could put downward pressure on gold prices.
The PCE data, which the Fed considers a key inflation indicator, is scheduled to be released at 12:30 GMT. Economists forecast that April inflation may have edged down to 2.2% from 2.3% in March.
Tim Waterer, an analyst at KCM Trade, analyzed that ahead of the release of the core PCE index, many investors are hesitant to open new long positions in gold. Currently, investors are anticipating a 50bp rate cut starting in October. Because gold is a non-yielding asset, it tends to perform well in a low-interest-rate environment.
In addition to gold, silver prices also fell 0.6% to $33.16 per ounce. Platinum prices fell 0.8% to $1,073.80, and palladium fell 0.4% to $969.79.
In summary, on May 30, 2025, gold prices were influenced by a strong dollar and cautious investor sentiment ahead of the release of important inflation data. These factors may continue to affect gold prices in the future.
Tomorrow, June 1, 2025, is a Sunday. First and foremost, it’s important to know that gold prices will remain unchanged. The gold market is closed over the weekend with no price fluctuations. However, let’s review the current situation to understand why there is such keen interest in gold prices on June 1, 2025, and what might happen after the market opens on Monday.
As of May 31, 2025, the world gold price is $3,299.79 per ounce, equivalent to approximately 104.40 million VND per tael in Vietnamese currency (excluding taxes and fees). It remains at a high level compared to the previous day, with the possibility of a slight increase. Why is gold so “popular”? Gold is considered a safe-haven asset during times of instability. Currently, many people are buying gold due to concerns about inflation, i.e., rising commodity prices, and expectations regarding the Federal Reserve’s future policy decisions. The Personal Consumption Expenditures (PCE) inflation report to be released tonight will be a key factor determining the direction of gold prices. If inflation falls, the Fed is likely to cut interest rates, which could weaken the dollar’s value and further enhance gold’s appeal. Conversely, if inflation remains high, gold prices could stagnate.
