Editor’s Note
This article reports on a significant drop in domestic gold prices as of May 15, 2025, highlighting a key market movement.
Gold prices continued their sharp decline on the afternoon of May 15, 2025, with the SJC gold futures price falling below 119 million VND per tael, a drop of 2.5 million VND.
As of the 3:30 PM survey on May 15, 2025, domestic gold prices plummeted, falling below 120 million VND. Specifically:
– The DOJI Group traded SJC gold bars at 115.5 – 118.2 million VND per tael (buying – selling price), down 2.5 million VND in buying price and 1.8 million VND in selling price compared to yesterday.
– The SJC gold bar price announced by Saigon Jewelry Company Limited (SJC) was 115.5 – 118.2 million VND per tael (buying – selling price), down 2.5 million VND in buying price and 1.8 million VND in selling price compared to yesterday.
– The SJC gold price from Mi Hong Jewelry Company was 115.5 million VND per tael for buying and 117.5 million VND for selling at the time of the survey. This is a decrease of 2.4 million VND in buying price and 2.3 million VND in selling price per tael compared to the previous day.
– At Bao Tin Minh Chau Co., Ltd., the SJC gold price was traded at 115.5 – 118.2 million VND per tael (buying – selling price), down 2.5 million VND in buying price and 1.8 million VND in selling price compared to yesterday.
– In Phu Quy, the SJC gold price was traded at 114.5 – 118.2 million VND per tael (buying – selling price), down 2.5 million VND in buying price and 1.8 million VND in selling price compared to yesterday.
As of 3:00 PM today, the price of 9999 Hung Thinh Vuong gold rings traded at DOJI was 110.5 – 113.5 million VND per tael (buying – selling price), down 2 million VND in buying price and 1.5 million VND in selling price per tael compared to the morning. The difference between buying and selling prices is 3 million VND per tael.
Bao Tin Minh Chau set the price of gold rings at 113 – 116 million VND per tael (buying – selling price), down 2.5 million VND in both buying and selling prices per tael compared to the morning. The difference between buying and selling prices is 3 million VND per tael.
As of 3:30 PM (Vietnam time) on May 15, 2025, the spot gold price recorded by Kitco was $3,152.03 per ounce. Applying the free market exchange rate (26,110 VND/USD), this is equivalent to approximately 99.73 million VND per tael (excluding taxes and fees). Compared to the domestic SJC gold bar price on the same day (115.5 – 118.2 million VND per tael), the current SJC gold price is about 18.47 million VND higher than the international gold price.
On May 15, 2025, global gold prices fell to their lowest level in over a month. The main reason is that investors are awaiting the release of key US inflation indicators to better understand the Federal Reserve’s policy. Simultaneously, the easing of trade tensions between the US and China has also reduced the appeal of gold.
Specifically, the spot gold price fell 1.1% to $3,144.51 per ounce as of 06:36 GMT, having hit its lowest level since April 10 in the previous trading session. The risk of a trade war has eased after the US and China agreed to significantly reduce tariffs and temporarily ease trade tensions for 90 days, reducing demand for gold as a safe-haven asset. These factors are putting additional downward pressure on gold prices this afternoon.
This statement was made by Jigar Trivedi, Senior Commodity Analyst at Reliance Securities.
US Producer Price Index (PPI) data is attracting market attention following the release of weaker-than-expected consumer spending data. The PPI data is scheduled to be released at 12:30 GMT. Fed policymakers are keeping interest rates on hold while assessing the impact of President Donald Trump’s tax policies and trade negotiations on the economy. However, the data released so far does not provide enough information for the Fed to make concrete decisions.
Fed Chairman Jerome Powell’s speech today will play a crucial role in determining the direction of the Fed’s interest rate policy. Investors currently anticipate a 50 basis point rate cut this year, with the cuts expected to start from October. In this context, gold, considered a safe-haven asset during periods of high economic and political uncertainty, typically performs better when interest rates are low.
Furthermore, not only did gold prices fall this afternoon (May 15, 2025), but spot silver prices also fell 1.1% to $31.86 per ounce, and palladium fell 0.5% to $946.40. Conversely, platinum prices rose slightly by 0.2% to $977.75.