Domestic gold price today

Early this morning, the domestic gold price increased slightly and remained around 67 million VND/tael. Currently, the domestic precious metal price is listed specifically as follows:

SJC gold price in Hanoi and Da Nang is currently being bought at 66.55 million VND/tael and sold at 67.17 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 increased slightly this morning. Photo: vietnamnet.vn

DOJI brand gold price in Hanoi is listed at 66.4 million VND/tael for buying and 67 million VND/tael for selling. In Ho Chi Minh City, this brand gold is being bought at the same price but sold at 50,000 VND lower than in Hanoi.

Phu Quy SJC gold price is listed at 66.45 million VND/tael for buying and 67.1 million VND/tael for selling. PNJ gold is listed at 66.4 million VND/tael for buying and 67 million VND/tael for selling. Bao Tin Bao Tin Minh Chau gold is listed at 66.47 million VND/tael for buying and 67.03 million VND/tael for selling.

Domestic gold price updated at 5:30 am on June 6 as follows:

Yellow

Area

Early morning 5-6

Early morning 6-6

Difference

Buy

Sell

Buy

Sell

Buy

Sell

Unit of measure:

Million VND/tael

Unit of measure:

Thousand dong/tael

DOJI

Hanoi

66.35

66.95

66.4

67

+50

+50

Ho Chi Minh City

66.35

66.95

66.4

66.95

+50

-

Phu Quy SJC

Hanoi

66.35

66.95

66.45

67.1

+100

+150

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

66.55

67.15

+200

+100

Hanoi

66.35

67.07

66.55

67.17

+200

+100

Danang

66.35

67.07

66.55

67.17

+200

+100

Bao Tin Minh Chau

Nationwide

66.4

66.95

66.47

67.08

+70

+130










World gold price today

World gold prices increased slightly early this morning with spot gold rising by 12.5 USD to 1,961.5 USD/ounce. August gold futures last traded at 1,977.8 USD/ounce, up 8.3 USD compared to early the previous day.

The price of the yellow metal in the first trading session of the week was boosted by the weakness of the USD. Early this morning, the US Dollar Index, which measures the volatility of the greenback, decreased, increasing the attractiveness of gold to buyers holding other currencies.

Additionally, gold prices entered positive territory as the Institute for Supply Management (ISM) survey results showed that the US services sector purchasing managers index (PMI) in May fell much more than expected.

Specifically, the PMI index in the services sector fell to 50.3% last month, down from 51.9% recorded in April. According to the consensus forecast, economists were looking for an increase of 52.6%. Activity in the services sector fell to its lowest level since January.

The gold market has seen a solid recovery from support above $1,950/ounce and disappointing economic data is providing fresh impetus.

The report also showed that the business activity index fell to 51.5%, down from 52% in April. In addition, the new orders index fell to 52.9%, down from 56.1% previously.

The labor market also lost momentum last month, with the employment index falling into contraction territory at 49.2%, down from 50.8% in April.

World gold increased slightly this morning. Photo: Kitco

The report also showed that inflationary pressures eased with the price index falling to 56.2%, down from 59.6% in April. This is positive news for the gold market.

Analysts say gold is getting a new boost as disappointing economic data could force the Federal Reserve to end its rate hikes. Reacting to the ISM data, markets see a more than 85% chance that the Fed will leave rates unchanged at its monetary policy meeting next week. At the same time, markets are pricing in just a 50% chance of a rate hike in July.

The ISM data “suggests that the economy is headed for recession,” said Andrew Hunter, deputy chief economist at Capital Economics. He added that the jobs data paints a completely different picture than the May nonfarm payrolls report, which showed 339,000 jobs were created last month, well above economists’ forecasts.

With the domestic gold price increasing slightly and the world gold price listed at Kitco at 1,961.5 USD/ounce (equivalent to nearly 56 million VND/tael if converted at Vietcombank exchange rate, excluding taxes and fees), the difference between the domestic and world gold prices is currently about 11 million VND/tael.

TRAN HOAI