Domestic gold prices show stability, but experts predict fluctuations due to international developments
Category: Business
As of May 25, 2026, domestic gold prices in Vietnam have remained stable, with gold bars from major brands such as SJC, Bao Tin Manh Hai, PNJ, DOJI, and Phu Quy all trading at 15.85 million VND per ounce for buying and 16.15 million VND per ounce for selling, according to local reports.
This stability comes against the backdrop of fluctuating international gold prices, which are currently pegged at $4,508.5 per ounce. The difference between domestic prices and the global market is approximately 18 million VND per ounce. Analysts attribute the recent volatility in gold prices to various factors, including geopolitical uncertainties and fluctuations in the U.S. dollar, which have historically influenced the market.
On the same day, gold ring prices also demonstrated stability, with SJC gold rings priced at 15.8 million VND for buying and 16.1 million VND for selling. The Bao Tin Manh Hai brand's 999.9 pure gold rings were trading at 15.7 million VND, remaining consistent with previous days. Other brands like DOJI and PNJ maintained similar pricing structures, indicating a steady market.
Last week, gold prices experienced sharp fluctuations, driven by a combination of geopolitical risks, a strengthening U.S. dollar, rising treasury yields, and concerns over the Federal Reserve's prolonged tightening monetary policy. The market remains sensitive to developments in the Middle East, as tensions in that region can significantly impact gold prices. For example, John Weir, director of trade hedging at Walsh Trading, noted, "The longer the conflicts last, the more inevitable the long-term damage to the economy will be."
In light of these factors, market participants are closely monitoring upcoming economic indicators, particularly as the U.S. Memorial Day holiday on May 25 will shorten the trading week. Key reports, including the Consumer Confidence Index from the Conference Board and GDP estimates, are expected to influence market movements. The University of Michigan's consumer sentiment survey, released last Friday, showed an unexpected decline, prompting increased attention from investors.
Meanwhile, the international gold market has seen a bullish trend, with prices surpassing the $4,000 mark per ounce. Global financial institutions maintain an optimistic outlook for gold prices throughout 2026, with projections indicating potential increases to between $5,000 and $5,400 per ounce. Some analysts suggest that prices could even reach up to $6,200 per ounce if current trends continue.
Looking ahead, experts predict that the gold market may see a temporary adjustment as summer approaches, particularly due to the delayed timing of interest rate cuts by the U.S. Federal Reserve. This delay could limit explosive price increases in the short term. Michael Moore, founder of Moore Analytics, expressed a cautious outlook, stating that gold prices may continue to decline in the coming week. He warned that prices could drop to between $4,370 and $4,400 per ounce by the end of the week.
In addition to gold, silver prices have also been noted, with the Hanoi Phu Quy Gold and Gem Group reporting a buying price of 2.86 million VND per ounce and a selling price of 2.948 million VND per ounce. Current silver prices in Ho Chi Minh City are approximately 2.434 million VND for buying and 2.468 million VND for selling, with the global silver market price set at $75.49 per ounce.
As geopolitical situations evolve, particularly in the Middle East, the gold market will likely remain volatile. The potential for conflict resolution between the U.S. and Iran could influence prices significantly. Recent reports suggest that the U.S. and Iran have reached a preliminary agreement to open the Strait of Hormuz and dispose of Iran's enriched uranium, but former President Trump has indicated that negotiations are not yet complete.
As the market adjusts to these developments, traders and investors will be keeping a close eye on both domestic and international gold prices, with expectations that they will hover around the $4,500 mark in the near future.
In a statement, Weir noted, "Gold prices are expected to trade around the $4,500 level next week, with no strong breakout anticipated in either direction." This sentiment reflects the cautious optimism that characterizes the current market environment, as traders prepare for a potentially turbulent trading week ahead.