At the end of the session on May 31, the price of gold bars at SJC closed at 115.7-118.2 million VND/tael (buy - sell), down 300 thousand VND/tael compared to the previous trading session.

The price of 1-5 chi SJC gold rings was listed at 110.5-113.5 million VND/tael (buy - sell), down 500 thousand VND/tael compared to the previous session's closing price. With a similar decrease, the price of 9999 gold rings at Doji closed the session at 111-113.5 million VND/tael.

Gold prices on the Kitco floor closed the trading week at $3,288/ounce. Gold futures for June 2025 delivery on the Comex New York floor traded at $3,289/ounce.

Investors have had little time to adjust to the rapid changes in US policy. As the trade war cooled, investors turned to stocks. As uncertainty grew, gold became attractive as a safe haven.

Instead of getting caught up in day-to-day volatility, investors need to focus on long-term fundamentals.

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Gold prices ended the week down. Photo: Thach Thao

A federal appeals court has granted a stay on a lower court order blocking President Trump's emergency tariffs on a variety of imports. The ruling temporarily restores the tariffs.

Meanwhile, trading partners and businesses still face legal uncertainty, as broader questions remain about the president's authority to impose unilateral tariffs.

US President Donald Trump’s use of trade weapons and erratic policies continue to push central banks away from the dollar. Gold remains the only global currency asset that is not subject to third-party risk. Central banks will continue to buy gold.

Trade tariffs continue to weigh on the economy . Data released this week showed the US economy contracted 0.2% in the first quarter, better than the initial forecast of a 0.3% decline.

The slowdown in consumption was also reflected in PCE data, as the personal income index rose 0.8% in April, but personal spending rose just 0.2%.

Trade uncertainty hurts investment and economic growth, forcing executives and policymakers to postpone important decisions, said Kei Okamura, portfolio manager at Neuberger Berman.

Gold Price Forecast

Given gold's recent rally, investors should be cautious in the short term, said Ryan Oldham, manager at FSAGX.

Investors should be cautious about current prices, he said, as gold may be slightly above fundamentals driven by real interest rates. The two main factors at present are inflation and real interest rates, which are likely to reorient the US dollar.

Increasing money supply and fiscal deficit issues are long-term drivers of gold. But it is important to remember that gold can be a volatile asset, regularly experiencing corrections of 10% to 15% or more.

Gold has been trading in a range of $3,204.70 to $3,365.95 an ounce, with the price of gold moving up and down week after week in May. After breaking through resistance, gold could resume its uptrend, said Marc Chandler, managing director at Bannockburn Global Forex.

Source: https://vietnamnet.vn/gia-vang-hom-nay-1-6-suy-giam-sjc-cho-tin-hieu-moi-sau-loat-ket-luan-thanh-tra-2406876.html