Gold bar prices fell sharply at the beginning of the week

In line with world prices, domestic gold prices in the first session of the week on the morning of May 5 decreased sharply.

Illustration photo. (Dan Tri)

Specifically, updated at 9:15 a.m., at Saigon Jewelry Company SJC, DOJI Group listed the price of gold bars at 117.8 - 119.8 million VND/tael (buy - sell), down 1.5 million VND/tael in both buying and selling directions compared to the closing price yesterday.

Bao Tin Minh Chau Company listed the price of gold bars and gold rings at 116.2 - 119.2 million VND/tael (buy - sell), down 600 thousand VND/tael for buying and down 500 thousand VND/tael for selling compared to yesterday's closing price.

Saigon Jewelry Company (SJC) listed the price of gold rings at 112.5 - 115 million VND/tael (buy - sell), down 1.5 million VND/tael in both buying and selling compared to yesterday's closing price.

According to the most recent observations before the holiday, the price of SJC gold bars was traded at 119.3 - 121.3 million VND/tael (buy - sell); the price of SJC gold rings remained at 114 - 116.5 million VND/tael (buy - sell).

In the world market, gold prices decreased slightly in the session on May 2, thereby recording the second consecutive week of decrease...

World gold prices fell slightly on May 2, marking the second consecutive weekly decline, as trade tensions between the US and China eased and a positive jobs report put pressure on the price of this precious metal.

At 00:41 on May 3, Vietnam time, the spot gold price decreased by 0.4% to 3,228.50 USD/ounce, and has decreased by 2.6% this week. The gold futures price closed up 0.6% to 3,243.30 USD/ounce.

Previously, after recovering in the first session of the week thanks to bottom-fishing demand, gold prices fell continuously in the following three sessions, when positive signals about easing trade tensions between the US and China reduced demand for safe havens, and expectations of the US Federal Reserve (Fed) cutting interest rates increased after weaker-than-expected US economic data.

In particular, gold prices fell to a two-week low in the session on May 1, amid signs of easing trade tensions and a holiday in China, the world's top gold consumer.

Signs of an impending trade deal were among the factors driving profit-taking in gold, which is considered a “safe haven,” said Bob Haberkorn, senior market strategist at brokerage RJO Futures. China’s Ministry of Commerce said the U.S. has repeatedly expressed its willingness to negotiate on tariffs and China is always open to dialogue.

NBO

Source: https://baoninhbinh.org.vn/gia-vang-mieng-giam-manh-phien-dau-tuan-720083.htm