Domestic gold price today

Early this morning, domestic gold prices fluctuated slightly. Currently, the domestic precious metal prices are listed specifically as follows:

SJC gold price in Hanoi and Da Nang is currently being bought at 66.45 million VND/tael and sold at 67.07 million VND/tael. In Ho Chi Minh City, SJC gold is still being bought at the same price as in Hanoi and Da Nang but sold at 20,000 VND lower.

Domestic gold prices increased slightly this morning. Photo: tinnhanhchungkhoan.vn

DOJI brand gold price in Hanoi is listed at 66.4 million VND/tael for buying and 67 million VND/tael for selling. In Ho Chi Minh City, this brand gold is being bought and sold at the same price as in Hanoi.

Phu Quy SJC gold price is listed at 66.45 million VND/tael for buying and 67.05 million VND/tael for selling. PNJ gold is listed at 66.5 million VND/tael for buying and 67.05 million VND/tael for selling. Bao Tin Bao Tin Minh Chau gold is listed at 66.47 million VND/tael for buying and 67.03 million VND/tael for selling.

Domestic gold price updated at 5:30 am on June 3 as follows:

Yellow

Area

Early morning 2-6

Early morning 3-6

Difference

Buy

Sell

Buy

Sell

Buy

Sell

Unit of measure:

Million VND/tael

Unit of measure:

Thousand dong/tael

DOJI

Hanoi

66.4

67

66.4

67

-

-

Ho Chi Minh City

66.4

66.95

66.4

67

-

+50

Phu Quy SJC

Hanoi

66.4

67

66.45

67.05

+50

+50

PNJ

Ho Chi Minh City

66.5

67.05

66.5

67.05

-

-

Hanoi

66.5

67.05

66.5

67.05

-

-

SJC

Ho Chi Minh City

66.4

67

66.45

67.05

+50

+50

Hanoi

66.4

67.02

66.45

67.07

+50

+50

Danang

66.4

67.02

66.45

67.07

+50

+50

Bao Tin Minh Chau

Nationwide

66.42

66.98

66.47

67.03

+50

+50










World gold price today

The world gold price continued to decline sharply this morning, with spot gold falling by 29.2 USD to 1,947.5 USD/ounce. August gold futures last traded at 1,969.6 USD/ounce, down 25.9 USD compared to the previous morning. Thus, if converted according to Vietcombank exchange rate (excluding taxes and fees), the world gold price has decreased by nearly 1 million VND/tael.

The world's precious metals fell sharply in the last trading session of the week when a recent report showed that the US job market is still very healthy. Specifically, the US Department of Labor's non-farm payroll report showed that 339,000 jobs were created in May. This figure was much higher than economists' forecasts and the number of jobs in April was adjusted. The unemployment rate rose to 3.7% in May from 3.4% in April.

According to some analysts, the strong jobs data suggests that while the central bank may be pausing, it is not done raising interest rates. Some analysts say this long-term shift in interest rate expectations could continue to weigh on gold.

Traders and investors are still buzzing about a Wall Street Journal report Thursday that the Federal Reserve is likely to pause its rate-hike cycle at its June meeting before raising rates again later this summer. That’s a big change from recent market expectations that the Fed would raise rates again at its June meeting. However, the WSJ said a “warm jobs report” on Friday could put a damper on expectations for a pause.

World gold continued to increase early this morning. Photo: Kitco

In another development, after much effort, the US Senate passed the debt ceiling bill after the bill was passed by the House of Representatives late on June 1. After being passed by both the House and Senate, the bill will be presented to President Joe Biden. The bill's passage has prevented the possibility of the US defaulting on its debt just days before the deadline. The safe haven appeal of gold in the final trading session of the week was thus affected.

Despite interest rate expectations and other factors weighing on gold prices, experts remain bullish on the precious metal, saying its safe-haven appeal has not yet waned. Concerns about a looming recession are another reason investors should hold onto gold.

With the domestic gold price increasing slightly and the world gold price anchored at 1,947.5 USD/ounce (equivalent to nearly 55.5 million VND/tael if converted at Vietcombank exchange rate, excluding taxes and fees), the difference between the domestic and world gold prices is currently about 11.5 million VND/tael.

TRAN HOAI