Gold price today (April 28): Stable at high level

Domestic gold price today

Domestic gold bar prices are stable. Currently, gold brands are buying at 119 million VND/tael and selling at 121 million VND/tael. Phu Quy SJC gold is buying at 500,000 VND lower than other brands.

Domestic gold prices are stable. Photo: vietnamnet.vn

Similarly, gold rings of various brands are maintaining the same price as yesterday morning. Specifically, the price of SJC 9999 gold rings is fixed at 114 million VND/tael for buying and 116.5 million VND/tael for selling.

DOJI in Hanoi and Ho Chi Minh City markets listed the price of gold rings at 114 million VND/tael for buying and 116.5 million VND/tael for selling.

Bao Tin Minh Chau listed the price of plain round gold rings at 117 million VND/tael for buying and 120 million VND/tael for selling.

PNJ brand gold ring price is anchored at 114.5 million VND/tael for buying and 117.5 million VND/tael for selling.

Phu Quy SJC is buying gold rings at 115.5 million VND/tael and selling at 118.5 million VND/tael.

Domestic gold bar prices updated at 5:30 a.m. April 28 as follows:

Yellow	Area	Early morning April 27	Early morning April 28	Difference
Buy	Sell	Buy	Sell	Buy	Sell
Unit of measure: Million VND/tael	Unit of measure: Thousand dong/tael
DOJI	Hanoi	119	121	119	121	-	-
Ho Chi Minh City	119	121	119	121	-	-
SJC	Ho Chi Minh City	119	121	119	121	-	-
Hanoi	119	121	119	121	-	-
Danang	119	121	119	121	-	-
PNJ	Ho Chi Minh City	119	121	119	121	-	-
Hanoi	119	121	119	121	-	-
Bao Tin Minh Chau	Nationwide	119	121	119	121	-	-
Phu Quy SJC	Nationwide	118.5	121	118.5	121	-	-

World gold price today

Gold had a volatile week last week, with prices rising and falling with large amplitudes. Entering the new trading week, gold prices soared above $3,400/ounce, boosted by a weakening USD and uncertainty about the impact of US-China trade tensions on the economy. On Tuesday, gold hit an all-time high above $3,500/ounce before reversing and losing more than $90 when US Treasury Secretary Scott Bessent hinted that US-China trade tensions would cool down, boosting investors' risk appetite. The price of this precious metal continued to fluctuate continuously, maintaining around $3,300/ounce.

After profit-taking late last week, both experts and retail traders have become less optimistic about gold in the short term.

Adrian Day, chairman of Adrian Day Asset Management, said the short-term trend for gold is bearish. He noted that the possibility of progress in the trade war, along with rising recession concerns, will weigh on gold in the short term. However, Day said the correction is likely to be short and shallow. He added that the drivers of gold demand over the past year are still in place and could push gold back to $3,500 an ounce.

Phoenix Futures and Options President Kevin Grady predicts that gold will trade around current levels this week until the market makes concrete progress on trade.

World gold price exceeds 3,000 USD/ounce. Photo: Getty Images

Bob Haberkorn, senior commodities broker at RJO Futures, also expects a sell-off this week. He also doesn’t rule out a drop to $2,500 an ounce this year. However, he expects new buyers and existing holders to push gold back up.

In the short term, Haberkorn said gold is likely to fluctuate around current levels while market participants await clearer information.

Haberkorn said the recent pullback was due to optimism about a possible trade deal. “I think a pullback could push prices below $3,200 an ounce, maybe even another $100 before we see some bargain hunting in this market,” Haberkorn said.

Meanwhile, some experts and retailers remain optimistic, saying that there is still too much uncertainty in the market and that could continue to drive demand for gold.

This week, in addition to US employment data, the market will pay attention to the Canadian election, US consumer confidence index, US first-quarter growth data, and the Bank of Japan monetary policy meeting.

With the domestic gold bar price stable and the world gold price listed at Kitco at 3,320.3 USD/ounce (equivalent to about 104.9 million VND/tael converted according to Vietcombank exchange rate, excluding taxes and fees), the difference between domestic and world gold prices is about 16.1 million VND/tael.

TRAN HO HOAI

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