Gold price today (May 7): Continues to increase strongly - Lang Son Newspaper and Radio and Television Station

Gold price today (May 7): World gold prices continue to increase rapidly, with spot gold prices surpassing the threshold of 2,400 USD/ounce. Domestically, gold prices have also been adjusted to increase sharply.

Gold price Domestic gold prices have unexpectedly increased sharply. Currently, gold brands are buying at 120.2 million VND/tael and selling at 122.2 million VND/tael. Particularly, Phu Quy SJC gold is buying at 400,000 VND lower but selling at 600,000 VND higher than other brands.

Similarly, gold rings of various brands were also adjusted to increase both buying and selling prices. Specifically, the price of SJC 9999 gold rings increased by 3 million VND in both directions to 115.5 million VND/tael for buying and 118 million VND/tael for selling, respectively.

Domestic gold prices increase sharply. Photo: thanhnien.vn

DOJI in Hanoi and Ho Chi Minh City markets listed the price of gold rings at 115.5 million VND/tael for buying and 118 million VND/tael for selling, an increase of 3 million VND in both buying and selling prices.

Bao Tin Minh Chau brand gold rings are being bought at 117.5 million VND/tael and sold at 120.5 million VND/tael, an increase of 2 million VND for both buying and selling.

The listed price of PNJ brand gold rings is 115 million VND/tael for buying and 118 million VND/tael for selling, an increase of 2.5 million VND for buying price and 2.6 million VND for selling price.

Phu Quy SJC is buying gold rings at 115.5 million VND/tael and selling at 118.5 million VND/tael, an increase of 2 million VND in both directions.

Domestic gold bar prices updated at 5:30 a.m. on May 7 as follows:

Yellow	Area	Early morning 6-5				Early morning 7-5			Difference
		Buy	Sell			Buy	Sell		Buy	Sell
		Unit of measure: Million VND/tael							Unit of measure: Thousand dong/tael
DOJI	Hanoi	117.8		119.8		120.2		122.2	+2400	+2400
	Ho Chi Minh City	117.8		119.8		120.2		122.2	+2400	+2400
SJC	Ho Chi Minh City	117.8		119.8		120.2		122.2	+2400	+2400
	Hanoi	117.8		119.8		120.2		122.2	+2400	+2400
	Danang	117.8		119.8		120.2		122.2	+2400	+2400
PNJ	Ho Chi Minh City	117.8		119.8		120.2		122.2	+2400	+2400
	Hanoi	117.8		119.8	120.2			122.2	+2400	+2400
Bao Tin Minh Chau	Nationwide	117.8		119.8	120.2			122.2	+2400	+2400
Phu Quy SJC	Nationwide	116.8		119.8	119.8			122.8	+3000	+3000

World gold price today

World gold prices continued to rise sharply, with spot gold prices increasing by 71 USD to 3,406.4 USD/ounce. Gold futures last traded at 3,422.8 USD/ounce, up 100.5 USD compared to early this morning.

Gold prices rose to a two-week high on Tuesday, supported by buying in China after markets in the top consumer reopened following a five-day holiday and concerns over potential tariffs on U.S. pharmaceutical imports.

BullionVault's head of research Adrian Ash said the bull market is being driven by the latest wave of gold investment in China, coupled with continued efforts by central banks to diversify their portfolios away from the US dollar.

The US dollar is struggling as investors start to lose patience with trade deals, making greenback-priced gold cheaper for holders of other currencies.

Known as a hedge against uncertainty, bullion has hit multiple record highs this year, with investors flocking to the metal as tariffs stoke fears of a recession.

World gold prices increase sharply. Photo: Getty Images

Earlier this week, US President Donald Trump hinted at plans to impose new tariffs on pharmaceutical products in the next two weeks, Reuters reported. Earlier, Trump announced a 100% tariff on foreign-made films.

TD Securities commodity strategist Daniel Ghali predicts that with current strong demand, gold prices could reach $4,000 an ounce this year.

Another factor expected to influence the direction of gold is the Fed's interest rate stance. Investors are closely watching the US central bank's upcoming policy decision, with comments from Fed Chairman Jerome Powell expected to provide clues on the timing of easing.

With the domestic gold bar price increasing sharply and the world gold price listed at Kitco at 3,406.4 USD/ounce (equivalent to about 107.4 million VND/tael converted according to Vietcombank exchange rate, excluding taxes and fees), the difference between domestic and world gold prices is about 14.8 million VND/tael.

Source: https://baolangson.vn/gia-vang-hom-nay-7-5-tiep-da-tang-manh-5046282.html