Editor’s Note
This article reports the domestic gold prices as of May 11, 2025, noting a stable market with key sellers like DOJI and SJC maintaining consistent rates.
As of 5:30 PM on May 11, 2025, domestic gold prices remained unchanged from yesterday. Specifically:
- The DOJI Group set the price for SJC gold bars at 120.0 – 122.0 million VND per tael (buy – sell).
- Saigon Jewelry Company Limited (SJC) set the price for SJC gold bars at 120.0 – 122.0 million VND per tael (buy – sell).
- At the time of survey, Mi Hong Gold and Gemstone Company set the gold price at 120.5 – 122.0 million VND per tael (buy – sell).
- The SJC gold price traded at Bao Tin Minh Chau Co., Ltd. is 120.0 – 122.0 million VND per tael (buy – sell).
- In Phu Quy, the SJC gold price is traded at 119.0 – 122.0 million VND per tael (buy – sell).
- PNJ’s gold price is set at 114.0 – 116.6 million VND per tael (buy – sell) in Ho Chi Minh City, Hanoi, Da Nang, and the Mekong Delta.
- The price of 9999 pure gold jewelry at SJC is set at 114.5 – 116.4 million VND per tael (buy – sell).
- The price of 9999 Hung Thinh Vuong gold rings sold at DOJI is 114.5 – 117.0 million VND per tael (buy – sell). The price of gold rings sold at Bao Tin Minh Chau is 117.0 – 120.0 million VND per tael (buy – sell).
As of 5:30 PM (Vietnam time) on May 11, 2025, the spot gold price recorded by Kitco was $3,328.94 per ounce. Applying the free market exchange rate (26,140 VND/USD), the world gold price equates to approximately 105.32 million VND per tael (excluding taxes and fees). Compared to the domestic SJC gold bar price on the same day (120.0 – 122.0 million VND per tael), the current SJC gold price is about 16.67 million VND higher than the international gold price.
Today, May 11, 2025, the global gold market was temporarily closed due to a holiday, resulting in no new trades. However, to better understand the gold price trend, we can look at the situation on the previous day, Friday, May 9, 2025. On this day, the world gold price rose more than 1% to reach $3,340.29 per ounce. This price increase was due to a slight decline in the value of the US dollar, making gold cheaper for those using other currencies. This significantly increased the appeal of gold in the international market.
Tariff tensions between the world’s two largest economies create uncertainty, a factor that drives many to seek gold as a safe-haven asset. Gold prices typically rise when concerns about a trade war increase, as gold is considered a reliable “store of value.”
Furthermore, unstable political situations in South Asia also impacted the rise in gold prices. Last week, India and Pakistan repeatedly accused each other of military attacks using drones and artillery. This is the most serious conflict between the two countries in nearly 30 years. Such geopolitical events create anxiety among investors, leading them to invest in gold as a safe-haven asset.
However, some experts forecast that gold prices may not sustain their sharp upward trend.
Nevertheless, gold remains a top choice for investors looking to protect their assets from economic and political risks.
From another perspective, President Trump’s trade policies could drive up commodity prices, affecting the lives of US citizens. Federal Reserve officials have indicated that such policies could lead to rising inflation, economic slowdown, and job losses in the near future. These factors indirectly influence gold prices in the global market as of May 10, 2025, as gold purchases tend to increase during periods of economic instability.
In the physical market, gold demand varies by major country. In India, purchases have decreased due to high domestic gold prices, while in China, gold demand surged after the holiday. This pattern shows that while responses differ by region, gold remains an attractive investment. Vietnamese investors should closely monitor international news to make informed trading decisions, considering the current (May 11, 2025) world gold price.
Gold prices on May 12, 2025, are expected to show significant volatility. As of the afternoon of May 11, the world gold price on Kitco was $3,329 per ounce. Converting this to Vietnamese Dong using Vietcombank’s USD exchange rate (26,140 VND/USD) equates to approximately 106 million VND per tael (1 tael = 37.5g), excluding taxes and fees. Meanwhile, in Vietnam, SJC gold bars are traded at a much higher price, around 120.0 – 122.0 million VND per tael.
Last week, world gold prices surged nearly 3%. The reason is unstable global situations. Events such as terrorist attacks near Israeli airports and heightened tensions between India and Pakistan have caused many to feel anxious and buy gold as a safe-haven asset. Additionally, as gold is priced in US dollars, the weakening of the US dollar also contributed to the price increase. Another factor is that although the US Federal Reserve kept interest rates unchanged, rising inflation due to tariffs has led many to seek gold for asset protection.
However, gold prices do not always rise. News that the US and China would begin trade negotiations eased investor concerns, causing gold prices to dip slightly. If the two countries reach an agreement, gold’s appeal could diminish. Conversely, if negotiations break down, demand for gold will continue.
