Gold prices fell by more than 1 million VND per tael.

VTV.vn - Following the downward trend of world gold prices, domestic gold prices fell by 1.3 million VND/ounce this morning.

Gold prices fell by 1.3 million VND per tael.

Gold prices fall sharply.

At 12 PM, the price of SJC gold bars at Saigon Jewelry Company, Phu Quy Company, and Doji Group was listed at 162 million VND/ounce (buying price) and 165 million VND/ounce (selling price). This price decreased by 1.3 million VND/ounce compared to the closing price of the trading session on May 4th.

In the gold ring segment, the market recorded similar developments. Bao Tin Minh Chau Company traded around 162-165 million VND/ounce, also down 1.3 million VND/ounce. Phu Quy Company listed prices from 162 million VND to 165 million VND/ounce (buy-sell), down 1 million VND/ounce compared to the previous closing session.

In trading on the night of May 4th (Vietnam time), world gold prices fell by 2% as geopolitical tensions in the Middle East boosted the US dollar and raised concerns about prolonged inflation.

At the close of trading, spot gold prices fell to $4,523.23 per ounce, while US gold futures dropped 2.4% to $4,533.30 per ounce.

On May 4, the US military announced that six Iranian small vessels had been sunk after allegedly targeting civilian ships at sea, in a new development challenging the fragile ceasefire in the region.

At the same time, the US military also reported that Iran had deployed missiles, drones, and small vessels targeting maritime objectives in the region. These developments indicate that the security situation in the Strait of Hormuz continues to be complex and poses a potential risk of escalating conflict.

The decline in gold prices occurred amid volatile energy markets, pushing Brent crude oil prices up by more than 5%. Rising energy prices not only support the US dollar but also raise concerns about increasing input costs, thereby putting pressure on inflation. When the US dollar is strong, gold – which is priced in this currency – becomes more expensive for investors holding other currencies, reducing its purchasing power.

Bart Melek, Global Commodity Strategy Director at TD Securities, commented that recent developments have not only failed to reassure the market but have also increased inflationary pressure, suggesting that interest rates are likely to remain high in the near future.

Melek believes that the $4,200/ounce level might prevent gold prices from falling too sharply, but in the short term, high interest rates could still discourage investors from buying.

In a similar view, Barclays Bank forecasts that the US Federal Reserve (Fed) will not cut interest rates in 2026 due to concerns that high energy prices will have a far-reaching impact on the economy .

This week, the market will focus on key US economic data such as jobless claims, the ADP employment report, and the April 2026 payrolls report, seeking further clues about the outlook for monetary policy. While often considered a safe haven during volatile markets, gold is less attractive in a high-interest rate environment because it does not offer yields.

Meanwhile, prices of other precious metals also fell. Silver dropped 3.2% to $72.95 per ounce, platinum fell 1.7% to $1,955.95 per ounce, and palladium dropped 2.9% to $1,481 per ounce.

Gold and silver prices both fell.

Silver prices plummet.

As of 9:15 AM on May 5th, the price of 2024 Ancarat 999 silver bars (1 tael) at Ancarat Precious Metals Company was listed at 2.763 - 2.831 million VND/tael (buying price - selling price); a decrease of 94,000 VND/tael in the buying price and a decrease of 96,000 VND/tael in the selling price compared to yesterday morning.

The price of 2025 Ancarat 999 silver bars (1kg) at Ancarat Precious Metals Company is listed at 72.784 - 74.994 million VND/kg (buying price - selling price); a decrease of 2.48 million VND/kg in the buying price and a decrease of 2.56 million VND/kg in the selling price compared to yesterday morning.

The price of 999 silver (1 tael) listed by DOJI Gold and Gemstone Group Joint Stock Company is at 2.752 - 2.857 million VND/tael (buying price - selling price); a decrease of 106,000 VND/tael in the buying price and a decrease of 110,000 VND/tael in the selling price compared to yesterday morning.

At the same time, the price of 999 silver bars (1 tael) at Phu Quy Gold, Silver and Gemstone Group was listed at 2.760 - 2.845 million VND/tael (buying price - selling price); a decrease of 108,000 VND/tael in the buying price and a decrease of 112,000 VND/tael in the selling price compared to yesterday morning.

The price of 999 sterling silver bars (1kg) at Phu Quy Gold, Silver and Gemstone Group is listed at 73.599 - 75.866 million VND/kg (buying price - selling price); a decrease of 2.88 million VND/kg in the buying price and a decrease of 2.987 million VND/kg in the selling price compared to yesterday morning.

Source: https://vtv.vn/gia-vang-giam-hon-1-trieu-dong-luong-100260505121233465.htm