Domestic gold price today April 6, 2024
By 11:00 a.m. on April 6, the price of SJC 9999 gold had decreased by a total of VND300,000/tael in both buying and selling prices compared to the morning, to VND81.9 million/tael (selling).
The price of 9999 gold was updated by Saigon Jewelry Company Limited (SJC) at 11:01 a.m. and the price of 9999 gold was listed by DOJI Jewelry Group at 9:38 a.m. as follows:
| Buy | Sell | |
| SJC Hanoi | 79,500,000 VND/tael | 81,920,000 VND/tael |
| SJC HCMC | 79,500,000 VND/tael | 81,900,000 VND/tael |
| SJC Danang | 79,500,000 VND/tael | 81,920,000 VND/tael |
| DOJI Hanoi | 79,200,000 VND/tael | 82,000,000 VND/tael |
| DOJI HCMC | 79,200,000 VND/tael | 82,000,000 VND/tael |
Early morning of April 6 , SJC 9999 gold price increased by 300 thousand VND/tael for buying and increased by 700 thousand VND/tael for selling compared to yesterday's closing price, up to 82.2 million VND/tael (selling).
The price of 9999 gold was updated by Saigon Jewelry Company Limited (SJC) at 8:31 a.m. and the price of 9999 gold was listed by DOJI Jewelry Group at 8:39 a.m. as follows:
| Buy | Sell | |
| SJC Hanoi | 79,800,000 VND/tael | 82,220,000 VND/tael |
| SJC HCMC | 79,800,000 VND/tael | 82,200,000 VND/tael |
| SJC Danang | 79,800,000 VND/tael | 82,220,000 VND/tael |
| DOJI Hanoi | 79,200,000 VND/tael | 82,000,000 VND/tael |
| DOJI HCMC | 79,000,000 VND/tael | 82,000,000 VND/tael |
SJC and DOJI gold price list updated early morning April 6
At the close of the session on April 5, the price of 9999 gold bars at SJC Ho Chi Minh City was 79.5 million VND/tael (buy) and 81.5 million VND/tael (sell). SJC Hanoi listed at 79.5 million VND/tael (buy) and 81.52 million VND/tael (sell).
DOJI Hanoi listed at 78.9 million VND/tael (buy) and 81.3 million VND/tael (sell). DOJI Ho Chi Minh City bought SJC gold at 78.9 million VND/tael and sold at 81.3 million VND/tael.
The central exchange rate on April 5, 2024 announced by the State Bank is 24,038 VND/USD, unchanged from the previous trading session. The USD price at commercial banks this morning (April 6) was listed at 24,750 VND/USD (buy) and 25,120 VND/USD (sell).
International gold price today April 6, 2024
At 8:07 a.m. today (April 6, Vietnam time), the world spot gold price stood at around 2,329.2 USD/ounce, up 61.2 USD/ounce compared to last night. The price of gold futures for June 2024 on the Comex New York floor was at 2,345.4 USD/ounce.
The price of gold on the Kitco floor (at 8:00 p.m. on April 5, Vietnam time) was at $2,268/ounce, down 0.2% from the beginning of the session. The price of gold futures for June 2024 delivery on the Comex New York floor was trading at $2,304/ounce.
Gold is testing support at $2,300 an ounce as the US labor market remains "hot".
Nonfarm payrolls increased by 303,000 jobs last month, according to the US Bureau of Labor Statistics. The unemployment rate fell to 3.8%.
The jobs report fell on the back of monetary policy hawks who want to see the Federal Reserve hold off on cutting interest rates. Gold prices are sensitive to US interest rate moves.
The US Dollar Index (DXY) rose after the better jobs report. The US Dollar Index (DXY), which measures the greenback's performance against six major currencies (EUR, JPY, GBP, CAD, SEK, CHF), rose 0.475% to 104.61 points.
The yield on the benchmark 10-year US Treasury note is at 4.37%.
Central bank gold buying remains robust, driven by emerging economies diversifying their reserves and rising geopolitical tensions, according to Goldman Sachs.
Gold Price Forecast
In an interview with Kitco News, Julia Khandoshko, CEO of brokerage Mind Money, said that the rise in gold prices to record highs does not depend on the timing of the Fed's interest rate cut but mainly on the general direction of monetary policy.
While she does not expect the Fed to cut rates in June, she sees two rate cuts later this year and further easing in 2025, which is positive for gold.
In addition, the recovery of the gold market is also supported by the economic and geopolitical situation and government debt.
Khandoshko believes that gold price reaching 3,000 USD/ounce is just a matter of time.
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