Customers are buying gold at a PNJ store on Cau Giay Street, Hanoi . Photo: Khanh Huy.
World gold price
The last trading session of the week ended with red covering the gold market, when cooling signals from US-China trade tensions and the rise of the US dollar caused the precious metal to lose its familiar support.
The news that China would exempt some American goods from tariffs, from pharmaceuticals to electronic chips, was a breath of fresh air in the trade war. The optimism left safe-haven gold out of place amid the market’s turmoil. As investors abandoned their defensive stance and sought riskier assets, gold was no longer the preferred choice.
The US dollar (USD) posted its first weekly gain since March, adding to the pressure on gold. A stronger greenback means gold becomes more expensive for the rest of the world, further weakening consumer demand.
While US Treasury yields have eased slightly, reflecting cautious sentiment, soft-spoken comments from US President Donald Trump and concessions from China have not been enough to dispel doubts. Tariffs will only be lifted if there are real concessions.
The latest Kitco News survey shows that only a few experts and retail investors still have fragile faith in the upward momentum of gold prices, after a series of endless sell-offs.
Adrian Day Asset Management chairman Adrian Day acknowledged that the short-term trend is bearish, but said the forces that pushed gold to $3,500 have not disappeared. However, he also warned frankly: pressure from trade tensions and recession fears could drag gold prices down further.
Amid the pessimism, Rich Checkan of Asset Strategies International is holding out hope for a modest recovery in gold prices, buoyed by a weak US dollar and geopolitical uncertainties. But in that glimmer of light, insightful analysis from Kevin Grady of Phoenix Futures and Options strikes an unavoidable note. He points out that the recent $500 surge lacks the backing of real money, leaving gold vulnerable to sharp declines.
Grady believes that $3,000/ounce is the real support level, but the market is still unstable and has not found a foothold. He even warned of the possibility that China will sell US bonds and buy gold as a strategic card in the trade war.
Recorded at 20:40 (Vietnam time) on April 27, the world spot gold price on the Kitco exchange was at 3,318.30 USD/ounce, down 30.50 USD (equivalent to 0.91%) compared to the previous session's close.
Domestic gold price
Before the opening of the trading session on April 28, the price of SJC gold bars at Saigon Jewelry Company, DOJI, and Bao Tin Minh Chau all listed the buying price at VND 119.00 million/tael and the selling price at VND 121.00 million/tael.
SJC gold bar price at Phu Quy listed the buying price at 118.50 million VND/tael and the selling price at 121.00 million VND/tael.
Saigon Jewelry Company listed the buying and selling prices of SJC gold rings at 114.00 - 116.50 million VND/tael. The gold ring brands Bao Tin Minh Chau, Phu Quy and DOJI traded buying and selling prices at 117.00 - 120.00 million VND/tael; 115.50 - 118.50 million VND/tael; 114.00 - 116.50 million VND/tael, respectively.
Source kinhtedothi
Source: https://baotayninh.vn/gia-vang-hom-nay-28-4-2025-a189408.html
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