Gold price today (May 5): Stable at high level

Domestic gold price today

Domestic gold bar 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 and selling 1.3 million VND and 300,000 VND lower than other brands. Bao Tin Minh Chau Gold is buying and selling 1 million VND and 300,000 VND lower than other brands.

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.

Domestic gold prices are stable. Photo: dantri.com.vn

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.

Bao Tin Minh Chau brand gold rings are being bought at 116.6 million VND/tael and sold at 119.7 million VND/tael.

PNJ brand gold ring price is listed at 112 million VND/tael for buying and 116 million VND/tael for selling.

Phu Quy SJC is buying gold rings at 114.2 million VND/tael and selling at 117.2 million VND/tael.

Domestic gold bar prices updated at 5:30 a.m. on May 5 as follows:

Yellow	Area	Early morning 4-5	Early morning 5-5	Difference
Buy	Sell	Buy	Sell	Buy	Sell
Unit of measure: Million VND/tael	Unit of measure: Thousand dong/tael
DOJI	Hanoi	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	118.3	121	118.3	121	-	-
Phu Quy SJC	Nationwide	118.3	121.3	118	121	-300	-300

World gold price today

Last week, the gold market continued to witness many fluctuations, with prices continuously adjusted and recorded a second consecutive week of decline. Looking at the fluctuations of gold last week, many experts and retail investors have become less optimistic about gold in the short term.

The possibility of an easing of trade tensions between the US and China could reduce demand for gold in the near term, according to Adrian Day, chairman of Adrian Day Asset Management.

Sharing the same view, market analyst Fawad Razaqzada of StoneX Bullion said that gold prices could very well fall to $3,000/ounce if optimism surrounding trade deals continues.

In fact, investors rushed back into stocks last week, even though a trade deal may take some time. As a result, the S&P 500 has risen more than 17% from its April low.

World gold price anchored near 3,200 USD/ounce. Photo: Kitco

“I’m not sure the pullback is over. I’m bullish on the dollar and expect higher US yields in the near term. That could send gold lower to the $3,150-$3,165/oz range. Conversely, a return to $3,315/oz would ease some of the downside concerns,” said Marc Chandler, CEO of Bannockburn Global Forex.

Analysts at CPM Group recommend investors stay on the sidelines if they have no positions, but hold gold long term if they do and be prepared to buy on dips. He predicts that gold prices could fall to $3,150 an ounce, followed by $3,000 an ounce in the next two weeks.

After a week focused on employment data, investors will be looking ahead to the Federal Reserve’s interest rate decision this week. The market is currently expecting the US central bank to keep interest rates unchanged at this policy meeting. The market will be paying special attention to Fed Chairman Powell’s statement and his discussions with reporters following the policy meeting.

Also this week, Fed governors will attend the Reykjavik Economic Conference and participate in panel discussions on topics including AI, employment and monetary policy research. Traders will also pay attention to data on service sector activity and weekly U.S. jobless claims data.

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.

TRAN HO HOAI

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