Gold price today (May 3): While the gold price of most brands remained stable, the price of PNJ brand gold rings decreased sharply on May 2.
Domestic gold price today
Gold price Domestic gold prices are stable. Currently, gold brands are buying at 119.3 million VND/tael and selling at 121.3 million VND/tael. Phu Quy SJC gold is buying 1 million VND lower than other brands. Bao Tinh Minh Chau gold is buying and selling 1.2 million VND and 300,000 VND lower than other brands, respectively.
Similarly, most brands of gold rings also maintained the buying and selling prices of yesterday morning. Specifically, the price of SJC 9999 gold rings was 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.
Meanwhile, Bao Tin Minh Chau adjusted the buying and selling prices up by VND100,000 to VND116.4 million/tael for buying and VND119.7 million/tael for selling, respectively.
PNJ brand gold ring price is listed at 112 million VND/tael for buying and 116 million VND/tael for selling, down 2 million VND for buying and 1 million VND for selling.
Phu Quy SJC is buying gold rings at 114.5 million VND/tael and selling at 117.5 million VND/tael, an increase of 200,000 VND in both buying and selling prices.
Domestic gold bar prices updated at 5:30 a.m. on May 3 as follows:
Yellow | Area | Early morning 2-5 | Early morning 3-5 | Difference | ||||||
Buy | Sell | Buy | Sell | Buy | Sell | |||||
Unit of measure: Million VND/tael | Unit of measure: Thousand dong/tael | |||||||||
DOJI | 119.3 | 121.3 | 119.3 | 121.3 | - | - | ||||
Ho Chi Minh City | 119.3 | 121.3 | 119.3 | 121.3 | - | - | ||||
SJC | Ho Chi Minh City | 119.3 | 121.3 | 119.3 | 121.3 | - | - | |||
Hanoi | 119.3 | 121.3 | 119.3 | 121.3 | - | - | ||||
Danang | 119.3 | 121.3 | 119.3 | 121.3 | - | - | ||||
PNJ | Ho Chi Minh City | 119.3 | 121.3 | 119.3 | 121.3 | - | - | |||
Hanoi | 119.3 | 121.3 | 119.3 | 121.3 | - | - | ||||
Bao Tin Minh Chau | Nationwide | 118 | 121 | 118.1 | 121 | +100 | - | |||
Phu Quy SJC | Nationwide | 118.3 | 121.3 | 118.3 | 121.3 | - | - | |||
World gold price today
World gold prices increased, with spot gold prices increasing by 1.3 USD to 3,241.6 USD/ounce. Gold futures last traded at 3,243.3 USD/ounce, up 21.1 USD compared to early yesterday morning.
Gold prices edged up slightly from Friday’s highs, but were down from Friday’s highs as the latest jobs report showed a better-than-expected labor market. Signs of easing US-China trade tensions also dented the safe-haven appeal of the metal, sending it down for a second straight week after a string of huge gains.
The data showed that 177,000 jobs were created last month, 44,000 more than economists had expected. That was still down sharply from 228,000 in March. The unemployment rate was 4.2%, in line with expectations. However, many said that the report was for April and it was too early for the labor market to show the impact of US President Donald Trump's tariff policies.
Saxo Bank’s head of commodity strategy Ole Hansen said that overall risk appetite has improved this week on hopes of an improvement in US-China trade relations. Hansen added that gold is now just $100 below its peak, which could signal a new wave of buying from “bottom-fishing” investors who believe gold prices will rise further in the future.
Accordingly, the US and China both expressed goodwill to negotiate on trade tariffs. Signs of possible trade negotiations between the US and China have increased risk appetite and reduced the attractiveness of safe-haven assets such as gold.
According to Fawad Razaqzada, a market analyst at City Index and FOREX.com, safe-haven demand is weakening and prices could turn around and fall further, with the possibility of breaking this week's support near the $3,200/ounce area.
Meanwhile, in a recent announcement, UBS emphasized: “We remain bullish on gold as a political hedge, as we expect further volatility, but gold will continue to be strongly supported in the long term by central bank buying, investment demand, and de-dollarization.”
Investors who are currently under-allocated to gold may view the recent price decline as an opportunity to add to their holdings or re-adjust their portfolios to increase their long-term resilience, the bank said.
With the domestic gold bar price stable and the world gold price listed at Kitco at 3,241.6 USD/ounce (equivalent to about 102.3 million VND/tael converted according to Vietcombank exchange rate, excluding taxes and fees), the difference between domestic and world gold prices is about 19 million VND/tael.
Source: https://baolangson.vn/gia-vang-hom-nay-3-5-gia-vang-nhan-pnj-giam-manh-5045880.html
Comment (0)