Gold prices fell sharply today, June 4th.
Gold prices today, June 4th, saw a sharp decline in SJC gold bars and rings for the fourth consecutive day. Specifically, the selling price of SJC gold bars dropped sharply by 500,000 VND/ounce compared to yesterday morning, falling to 157 million VND/ounce.
For gold rings, several major brands, including Bao Tin Manh Hai, Bao Tin Minh Chau, and Doji , also simultaneously saw prices drop by 200,000 - 500,000 VND/ounce compared to yesterday morning, with the selling price falling to 157 million VND/ounce.
Experts predict that domestic gold prices will continue to fall sharply, following the trend of the global market. Escalating tensions in the Middle East and the ongoing US-Iran conflict are increasing geopolitical risks and supporting oil prices. This is strongly impacting gold prices. It is predicted that gold prices may continue to fall sharply today, following the downward trend of global gold prices.
As of 6:30 AM on June 4th, at Bao Tin Manh Hai, the price of SJC gold bars was trading at 154 - 157 million VND/ounce (buy - sell), a sharp decrease of 500,000 VND/ounce in both buying and selling prices compared to the same time yesterday. The buy-sell spread was 3 million VND/ounce.
The price of SJC gold bars at Doji Group in Hanoi and Ho Chi Minh City is trading around 154 - 157 million VND/ounce (buy - sell), a sharp decrease of 500,000 VND/ounce in both buying and selling prices compared to the same time yesterday. The buy-sell spread is 3 million VND/ounce.
At Bao Tin Minh Chau, SJC gold is trading at 154 - 157 million VND/ounce (buy - sell), a sharp decrease of 500,000 VND/ounce in both buying and selling prices compared to the same time yesterday. The difference between the buying and selling prices is 3 million VND/ounce.
SJC gold bars at Phu Quy are trading around 154-157 million VND/ounce (buy - sell), a sharp decrease of 500,000 VND/ounce in both buying and selling prices compared to the same time yesterday. The buy-sell spread is 3 million VND/ounce.
Additionally, the price of SJC gold at Phu Nhuan Jewelry (PNJ) is trading at 154 - 157 million VND/ounce (buy - sell); the price of SJC gold bars in Hanoi at Asean Jewelry is trading at 154 - 157 million VND/ounce (buy - sell);...
For gold rings, the price of round gold rings in blister packaging at Bao Tin Manh Hai is trading around 154 - 157 million VND/ounce, a sharp decrease of 500,000 VND/ounce in both buying and selling prices compared to the same time yesterday. The buy-sell spread is 3 million VND/ounce.
The price of plain gold rings at Bao Tin Minh Chau is trading at 154 - 157 million VND/ounce (buy - sell), a sharp decrease of 500,000 VND/ounce in both buying and selling prices compared to the same time yesterday. The difference between the buying and selling price is 3 million VND.
The price of Doji Hung Thinh Vuong 9999 gold rings from Doji Group in Hanoi is trading at 154-157 million VND/ounce, a sharp decrease of 500,000 VND/ounce in both buying and selling prices compared to the same time yesterday. The difference between the buying and selling price is 3 million VND.
Today, the price of 999.9 pure gold rings at Phu Quy Company is trading around 154-157 million VND/ounce, a decrease of 200,000 VND/ounce in both buying and selling prices compared to the same time yesterday. The buy-sell spread is 3 million VND/ounce.
World gold prices continue their sharp decline.
The spot price of gold in the Asian market at 6:30 AM today, June 4th (Vietnam time), was trading around $4,473 per ounce, a sharp decrease of $26 per ounce compared to the same time yesterday.
The spot price of gold in the US market closed early this morning (Vietnam time) at around $4,489 per ounce, a sharp decrease of $57 per ounce compared to the previous day's closing price.
According to Kitco News, spot gold prices fell sharply after yesterday's close, as rising crude oil prices, higher Treasury yields, and escalating tensions between the US and Iran put pressure on non-yielding metals.
Private employers added 122,000 jobs in May, far exceeding the forecast of 110,000 and marking the strongest growth figure according to ADP data in 16 months.
The ISM services PMI rose to 54.5 in May from 53.6 in April, with business activity at 57.7, new orders at 57.3, employment at 47.9, and prices at 71.3, the highest level since August 2022.
Steve Miller, chairman of the ISM Services Business Survey, said, “The jobs index has fallen for the third consecutive month.” The Federal Reserve’s Greybook indicated that economic activity rose slightly to moderately in 10 of 12 regions, while prices rose moderately to sharply due to energy costs related to the Middle East conflict affecting shipping, packaging, groceries, and fertilizers.
Oil prices rose for a third consecutive session after US and Iranian forces exchanged fire and talks on reopening the strait stalled. WTI crude closed at $96.02 and Brent at $97.81, with analysts warning that 11 million to 14 million barrels of oil per day could be at risk if the waterway remains closed.
The current impact on gold is mixed but generally negative: conflict risks are supporting safe-haven demand, while rising crude oil prices, a stronger dollar, and rising Treasury yields are putting pressure on non-yielding metals. In other markets, the most obvious transmissions are rising crude oil prices, weaker stock markets, stronger bond yields, increased energy inflation risks, and renewed volatility in shipping-sensitive sectors.
Technically, the next upside price target for spot gold buyers is to push the price back above the $4,436-$4,460/ounce resistance zone, with the goal of sustaining at $4,500/ounce and then $4,526/ounce.
The next short-term downside price target for sellers is a break below $4,426/ounce, with further downside targets at $4,400/ounce and then $4,367/ounce. The first resistance level is seen at $4,436/ounce and then $4,460/ounce. The first support level is seen at $4,426/ounce and then $4,400/ounce.
Source: https://danviet.vn/gia-vang-hom-nay-4-6-lien-tuc-lao-doc-d1432079.html
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