Gold prices continue to fall
At around 6:00 a.m. on May 1, the spot gold price on the world market was recorded at 3,279 USD/ounce, down 31 USD compared to the highest level in last night's trading session of 3,310 USD/ounce.
Gold prices continued to fall amid a weak US stock market. This caused investors to shift capital away from high-risk assets such as gold, creating downward pressure on prices.
A slight rise in the US dollar index also weighed on gold prices today. Gold is priced in US dollars and typically has an inverse relationship with the currency.
Crude oil futures fell to $58.50 a barrel, reflecting concerns about weakening global energy demand. Lower oil prices reduce inflationary pressures, thereby reducing investment demand for gold as an inflation hedge.
Meanwhile, economic data for April 2025 showed that China's economic activity declined due to the impact of US tariffs. This could reduce physical gold demand from China - one of the world's largest gold consuming markets.
In Vietnam, as of the end of April 30, the listed price of SJC gold was 121.3 million VND/tael (selling price), while the price of gold rings reached 116.5 million VND/tael.
Source: https://nld.com.vn/gia-vang-hom-nay-1-5-tiep-tuc-sut-giam-196250501064251268.htm
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