Gold price today 1/5: World continues to decrease, domestic remains stable

Early this morning, the world gold price was listed on Kitco at 3,308 USD/ounce, down 8.5 USD/ounce compared to the previous session's close.

Global gold prices continued to fall for the second consecutive session due to the rising value of the USD and signs of easing US-China trade tensions. Specifically, spot gold prices fell 0.62%, but still recorded the fourth consecutive month of increase with an increase of 5% in April. US gold futures also fell 1.3%, to 3,289 USD.

According to analysts, the market is currently volatile due to competition between trading flows. It seems that gold is entering a correction phase after a period of strong price increases.

Gold price continues to decrease today (illustrative photo).

The dollar rose 0.1% against other currencies, making gold more expensive for investors using other currencies. Frank Watson, an analyst at Kinesis Money, said gold prices fell amid a more stable market after the US-led trade tensions showed signs of easing.

However, the fact that gold did not fall too deeply also shows that the financial market is still concerned about the instability in US trade policy and its impact on the global economy .

In addition, world gold prices may increase again during the day after some US economic data was released below expectations.

The US ADP employment report for April showed that only 62,000 new jobs were created, much lower than the forecast of 120,000. In addition, the US GDP in the first quarter of 2025 decreased by 0.3%, contrary to the expectation of a 0.4% increase.

In addition to weak job growth, the report also showed signs of slowing wage inflation. Specifically, wages for employees who kept their current jobs rose just 4.5% in April compared to the same month last year, slightly lower than in March. Meanwhile, those who switched jobs received an average pay increase of 6.9% compared to 6.7% the previous month.

Gold price movements today

+ Domestic gold price

At 6:00 a.m. on May 1, the price of gold bars at Doji and SJC was listed at 119.3 - 121.3 million VND/tael (buy - sell), unchanged in both buying and selling directions compared to yesterday.

The price of gold rings is currently listed by Doji at 114 - 116.5 million VND/tael, also unchanged in both directions.

+ International gold price

World gold price listed on Kitco is at 3,308.50 USD/ounce, down 8.5 USD/ounce compared to the previous session.

Gold Price Forecast

Economists are warning of a possible global recession this year, according to a Reuters poll. This will be an important factor that will continue to support gold prices in the coming time, as investors seek safe havens.

Expert Manoj Kumar Jain from research firm Prithvifinmart said that gold prices will continue to fluctuate strongly this week. The main reason is the fluctuation of the USD exchange rate and the market waiting for important economic data from the US.

According to him, the current support zone of gold is around 3,300 - 3,274 USD/ounce, while the resistance zone ranges from 3,358 - 3,380 USD/ounce.

Technically, the bulls still have the upper hand in the June gold futures market. Their next target is to push prices above the strong resistance at the record high of $3,509.90 per ounce. Meanwhile, the bears are aiming to push prices below the support level of $3,200 per ounce.

The average price of gold this year is still forecast to be high at around $3,250 an ounce, according to the World Bank’s latest commodity outlook. This is 36% higher than last year’s average and represents a significant adjustment from the previous forecast in November, when experts said gold prices would remain flat.

Gold prices are expected to fall slightly to around $3,200 an ounce by 2026, a 1.5% decline. However, in the context of the overall commodity market, gold is still considered the most prominent asset over the next two years.

According to PHAM DUY (VTC News)