Editor’s Note
This article reports a sharp decline in domestic gold prices as of May 28, 2025, detailing specific decreases from major sellers like DOJI and SJC.
As of 4:30 AM on May 28, 2025, domestic gold prices have fallen sharply compared to yesterday. The details are as follows.
DOJI Group listed SJC gold bullion at 115.8 – 118.3 million VND per tael (buy-sell). Both the buying and selling prices fell by 700,000 VND/tael compared to yesterday.
Meanwhile, the price of SJC gold bars listed by Saigon Jewelry Company Limited (SJC) was 115.5 – 118.0 million VND per tael (buy-sell), with both buying and selling prices falling by 1 million VND per tael compared to yesterday.
At Mi Hong Gold and Gemstone Company, the price of SJC gold at the time of survey was 116.0 – 118.0 million VND per tael for both buying and selling. Compared to the previous day, the buying price fell by 1 million VND per tael and the selling price fell by 500,000 VND.
At Bao Tin Minh Chau Joint Stock Company, SJC gold was traded at 115.5 – 118.0 million VND per tael (buy-sell), with both buying and selling prices falling by 1 million VND per tael compared to yesterday.
At Phu Quy, SJC gold price was traded at 115.3 – 118.3 million VND per tael (buy-sell), with both buying and selling prices falling by 700,000 VND per tael compared to yesterday.
As of 4:30 AM today, the price of 9999 Hung Thinh Vuong gold rings at DOJI was traded at 111.3 – 114.0 million VND per tael (buy-sell). Compared to yesterday, the buying price fell by 700,000 VND per tael and the selling price fell by 500,000 VND per tael.
Bao Tin Minh Chau quoted the price of gold rings at 113.5 – 116.5 million VND per tael (buy-sell). Both buying and selling prices fell by 1.2 million VND per tael compared to yesterday.
The latest gold price table as of today, May 28, 2025, is as follows.
According to Kitco, the global spot gold price on the world market as of 4:30 AM Vietnam time was $3,298.57 per ounce. Today’s gold price fell by $39.86 per ounce compared to yesterday. Converted at Vietcombank’s USD exchange rate (26,100 VND per USD), the global gold price is about 107.67 million VND per ounce (excluding taxes and fees). Therefore, the price of SJC gold bullion is currently 10.33 million VND per ounce higher than the international gold price.
Global gold prices fell for the second consecutive trading day. The main reason is that investor sentiment turned optimistic after US President Donald Trump decided to postpone plans to impose tariffs on imports from the European Union (EU).
Following the latest data showing an unexpected improvement in the US Consumer Confidence Index this month, global gold prices fell below $3,300 per ounce. The Consumer Confidence Index for May rose to 98 points, exceeding the forecast of 87 points and also surpassing April’s 85.7 points.
Gold prices fell further on positive signs from the US economy. According to the US Department of Commerce, durable goods orders fell 6.3% last month. While March saw a 7.5% increase (adjusted), this was below economists’ forecasts, which had predicted a maximum decline of 7.6%.
Specifically, the spot gold price fell by 1.19%. Meanwhile, US gold futures also fell 2.1%, trading around $3,296.10 per ounce. This comes just days after gold prices rose about 5% in a week.
The phone call between President Trump and European Commission President Ursula von der Leyen over the weekend sent a positive signal for trade negotiations. After the call, President Trump announced he would not implement the previously threatened 50% tariffs, easing market concerns about trade friction.
Neel Kashkari, President of the Minneapolis Federal Reserve, recently stated that the Fed should keep interest rates on hold until clearer data on the impact of tariffs on inflation is available. The minutes from the Fed’s latest meeting will be released on Wednesday, expected to provide further clues on the future direction of monetary policy.
This week, the market will also watch other key data, including the US Q1 GDP estimate, jobless claims, and the Core PCE Price Index, a key inflation indicator used by the Fed for interest rate adjustments.
Among other precious metals, silver also fell 1.2% to $32.96 per ounce. Platinum fell slightly by 0.2% to $1,082.63, and palladium fell 0.3% to $984.50.
Despite the short-term adjustment in gold prices, Bart Melek maintains an optimistic long-term outlook. He believes gold prices will rise again once the market recognizes the possibility of future rate cuts by the Fed. In a low-interest-rate environment, gold is generally more attractive to investors.
Currently, the gold market is in an adjustment phase, waiting for clearer signals. According to Kelvin Wong, Senior Analyst for the Asia-Pacific region at OANDA, while gold prices may face downward pressure in the short term, the expanding US fiscal deficit still serves as a long-term support factor.
UBS analyst Giovanni Staunovo predicts that gold prices will remain relatively stable in the near future. The main reason is that investors are carefully watching US trade policy and financial conditions before making important decisions.
James Stanley, Senior Market Strategist at Forex, also expressed an optimistic view on gold’s prospects despite the possibility of short-term market volatility.
