Domestic gold price today

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

SJC gold price in Hanoi and Da Nang is currently being bought at 66.35 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 remained stable early this morning. Photo: thanhnien.vn

DOJI brand gold price in Hanoi area is listed at 66.35 million VND/tael for buying and 66.95 million VND/tael for selling. In Ho Chi Minh City, this brand gold is buying and selling at the same price as in Hanoi area.

Phu Quy SJC gold price is listed at 66.35 million VND/tael for buying and 66.95 million VND/tael for selling. PNJ gold is buying at 66.4 million VND/tael and selling at 67 million VND/tael. Bao Tin Bao Tin Minh Chau gold is listed at 66.4 million VND/tael for buying and 66.94 million VND/tael for selling.

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

Yellow

Area

Early morning of June 4

Early morning 5-6

Difference

Buy

Sell ​​out

Buy

Sell ​​out

Buy

Sell ​​out

Unit of measurement:

Million VND/tael

Unit of measurement:

Thousand dong/tael

DOJI

Hanoi

66.35

66.95

66.35

66.95

-

-

Ho Chi Minh City

66.35

66.95

66.35

66.95

-

-

Phu Quy SJC

Hanoi

66.35

66.95

66.35

66.95

-

-

PNJ

Ho Chi Minh City

66.4

67

66.4

67

-

-

Hanoi

66.4

67

66.4

67

-

-

SJC

Ho Chi Minh City

66.35

67.05

66.35

67.05

-

-

Hanoi

66.35

67.07

66.35

67.07

-

-

Da Nang

66.35

67.07

66.35

67.07

-

-

Bao Tin Minh Chau

Nationwide

66.4

66.95

66.4

66.94

-

-10

World gold price today

World gold prices this morning tended to increase with spot gold increasing by 1.5 USD compared to the closing price of last week's trading session to 1,949 USD/ounce.

Gold posted modest gains last week, snapping a three-week losing streak. Analysts say a solid market rally could push prices back to $2,000 an ounce this week.

The latest Kitco News weekly gold survey shows that both Wall Street analysts and retail investors are bullish on gold in the near term.

The bullish sentiment comes as the precious metal faced some selling pressure in the final session of the week after the US Department of Labor released strong employment data, with 339,000 jobs created last month. However, some analysts said that despite the strong jobs numbers, there is fresh momentum to push gold higher.

Although gold prices failed to hold the $2,000/ounce level, analysts said that gold's escape from a two-month low will create some fresh bullish momentum in the coming period.

Although prices are expected to rise this week, experts do not expect a major breakout to new all-time highs.

A weaker greenback will support gold this week, but prices will struggle to break above $2,000 an ounce, said Colin Cieszynski, chief market strategist at SIA Wealth Management Inc.

“The easing of tensions in the political and banking systems suggests that if we do get a rally in gold, it will remain moderate and $2,000 an ounce remains a significant psychological barrier,” he said.

Of the analysts surveyed by Kitco News, 53% are bullish on gold in the near term; 26% see it falling; and 21% see it moving sideways. Meanwhile, 60% of retail investors surveyed expect gold prices to rise this week; 24% see it falling; and 15% are neutral in the near term.

Retail investors do not expect gold prices to hit record highs anytime soon, even as they remain bullish on the metal. The survey found investors expect gold prices to hover around $1,997 an ounce this week.

World gold prices are on an upward trend this morning. Photo: Kitco

Many analysts believe that the main driver of gold is still the monetary policy stance of the US Federal Reserve (Fed). There is a growing expectation that the Fed will pause its tightening policy at its next meeting. However, economists have noted that the pause will not signal the end of the tightening cycle.

Meanwhile, some other experts said last month's significantly better-than-expected job gains supported the Fed's aggressive stance. However, looking beyond the reported numbers, the labor market is starting to show signs of trouble. The US unemployment rate rose to a seven-month high of 3.7%.

"I believe the Fed has peaked and that will be a boon for gold. However, the $2,070 an ounce level remains a key resistance level and it will be difficult for prices to move higher until this level is broken," said Adam Button, strategist at Forexlive.

With the domestic gold price remaining unchanged and the world gold price listed at Kitco at 1,949 USD/ounce (equivalent to nearly 55.5 million VND/tael if converted according to 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