Gold price today June 5: Increased by half a million dong overnight

Domestic gold prices increased following the world's upward trend as many investors still choose precious metals as a safe haven asset.

On the morning of June 5, the price of gold bars at Saigon Jewelry Company - SJC was bought at 115.4 million VND, sold at 117.7 million VND, an increase of 500,000 VND compared to yesterday. The difference in the buying and selling price of SJC gold bars remained at 2.3 million VND/tael.

Similarly, SJC Company increased the buying price of 4-number 9 gold rings by 500,000 VND to 111.5 million VND and the selling price by 114 million VND; Phu Nhuan Jewelry Company (PNJ) increased the buying price by 700,000 VND to 111.9 million VND and increased the selling price by 400,000 VND to 114 million VND...

Gold price on the morning of June 5 increased by half a million VND per tael. PHOTO: NGOC THANG

World gold price increased by 16 USD, to 3,380 USD/ounce. Converted according to Vietcombank exchange rate, world gold is equivalent to 107 million VND/tael (excluding tax and fees). Thus, each tael of SJC gold bar is 10.7 million VND more expensive than the world.

The precious metal continued to rise as the global dollar continued to retreat and the yield on the 10-year US government bond fell. US President Donald Trump said yesterday that Chinese President Xi Jinping was tough and “extremely difficult to make a deal with,” just days after accusing Beijing of violating a tariff rollback agreement. Earlier, Donald Trump doubled tariffs on imported steel and aluminum and called on trading partners to submit their “best offers” to avoid additional import duties.

The Institute for Supply Management (ISM) reported that the US manufacturing PMI fell to 49.9 in May, its lowest level since June 2024. Meanwhile, data from ADP showed that the US added just 37,000 new jobs in May, down from 60,000 in April and below the 110,000 jobs forecast by economists polled by Dow Jones. Following the report, President Donald Trump criticized Federal Reserve Chairman Jerome Powell and said he should cut interest rates.

In addition, there is significant geopolitical instability with Russia - Ukraine, Iran, Syria and China which is pushing people to buy gold. These uncertainties make investors still choose gold as a safe haven asset./.

According to Thanh Nien Newspaper

Source: https://thanhnien.vn/gia-vang-hom-nay-562025-tang-nua-trieu-dong-sau-mot-dem-185250605073023355.htm

Source: https://baolongan.vn/gia-vang-hom-nay-5-6-tang-nua-trieu-dong-sau-mot-dem-a196577.html