Gold prices on the Kitco floor closed the trading week at $3,249/ounce. Gold futures for June 2025 delivery on the Comex New York floor traded at $3,264/ounce.
World gold prices recorded a second consecutive weekly decline, mainly due to easing US-China trade tensions and a positive US jobs report reducing the attractiveness of the precious metal.
The US Bureau of Labor Statistics released its nonfarm payrolls report with an increase of 177,000 jobs in April, surpassing the estimate of 133,000 jobs according to MarketWatch.
However, experts say it is too early to fully assess the impact of President Donald Trump's unusual tariff policies on the labor market.
With the labor market strong and inflation still above the 2% target, Federal Reserve policymakers are expected to keep interest rates on hold while waiting to see how tariffs affect prices and economic growth, economists said.
Goldman Sachs expects the Fed to deliver its next interest rate cut in July, instead of June as previously forecast.
Earlier, the US Department of Commerce said that gross domestic product (GDP) in the first three months of 2025 decreased by 0.3% compared to the same period last year. This is the first quarter to record negative growth since the first quarter of 2022.
Trade talks between the US and China have shown signs of progress. China recently said it is considering a US proposal for trade talks, although it wants to reduce the 145% tariffs imposed by the Trump administration on Chinese imports last month as a precondition for negotiations.
The US economy under President Trump's second term is facing serious challenges, mainly stemming from tough trade policies, especially sky-high tariffs imposed on imported goods.
Domestic gold prices have stopped trading due to the April 30-May 1 holiday. At the end of the trading session on April 29, the price of 9999 gold bars at SJC and Doji was listed at 119.3-121.3 million VND/tael (buy - sell).
SJC announced the price of gold rings of type 1-5 at only 114-116.5 million VND/tael (buy - sell). Doji listed the price of 9999 smooth round gold rings at 114-116.5 million VND/tael (buy - sell).
Gold Price Forecast
According to Robert Kiyosaki, author of Rich Dad Poor Dad, gold is one of the best places for investors to make money in 2025.
While a weak economy and trade wars have dealt a blow to stocks, bonds and the US dollar, the precious metal has delivered double-digit returns to gold enthusiasts.
Michael Brown, senior research strategist at Pepperstone, said the correction in gold is a buying opportunity. Demand for gold as a safe haven remains strong amid uncertainty over the Trump administration and a slowing U.S. economy.
Gold is being bought on dips, according to Ole Hansen, head of commodity strategy at Saxo Bank. He warned that there is still room for further declines.
Hansen is watching Asian demand closely next week, with gold falling to $3,200 an ounce as Chinese investors begin a five-day holiday.
Gold needs a new catalyst to attract more Western demand, he noted, with the market looking toward key support at $3,160-$3,170 an ounce.
Source: https://vietnamnet.vn/gia-vang-hom-nay-4-5-2025-tut-doc-khong-branh-sjc-va-nhan-cho-tuan-moi-2397360.html
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