Gold price today, May 3: Unexpectedly down

(NLDO) – World gold prices on May 3 suddenly dropped as investors rushed to take profits, amid easing concerns about global tariffs.

Last night, investors quickly sold when the world gold price reached 3,270 USD/ounce.

Early on May 3, the spot gold price on the international market ended the trading week at 3,241 USD/ounce, down 29 USD compared to the peak of 3,270 USD/ounce in last night's trading session.

The decline came as concerns about US President Donald Trump’s tariff policies cooled, prompting investors to quickly sell to take profits after each price increase of tens of dollars per ounce.

However, analysts warn that financial and commodity markets remain volatile as there is no concrete trade agreement between the US and many other countries. Meanwhile, central banks around the world continue to actively buy gold to diversify their investment portfolios and reduce their dependence on the US dollar.

Safe-haven demand for gold is expected to remain strong in the coming period, driven by economic uncertainties, geopolitical tensions and concerns about volatility in global financial markets. These factors will continue to be important drivers of gold price trends in the future.

In Vietnam, as of the end of May 2, 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-3-5-bat-ngo-di-xuong-196250503063725826.htm