Gold price on May 3, 2025: Domestic and world gold prices decreased for the second consecutive week

Domestic gold price today 5/3/2025

At the time of survey at 1:30 p.m. on May 3, 2025, domestic gold prices of Bao Tin Minh Chau and Mi Hong increased slightly due to high buying pressure after a sharp decrease yesterday. Specifically:

The price of SJC gold bars listed by DOJI Group is at 119.3-121.3 million VND/tael (buy - sell), the price remains unchanged in both buying and selling directions compared to yesterday.

At the same time, the price of SJC gold bars was listed by Saigon Jewelry Company Limited - SJC at 119.3-121.3 million VND/tael (buy - sell), the price remained unchanged in both buying and selling directions compared to yesterday.

At Mi Hong Jewelry Company, the price of Mi Hong gold at the time of survey was listed at 118-119.5 million VND/tael for buying and selling. Compared to yesterday, the gold price remained unchanged in both buying and selling directions.

SJC gold price at Bao Tin Minh Chau Company Limited is traded by businesses at 118.3-121 million VND/tael (buying - selling, slightly increased by 200 thousand VND/tael in buying direction - unchanged in selling direction compared to yesterday.

SJC gold price at Phu Quy is traded by businesses at 118.3-121.3 million VND/tael (buy - sell), gold price remains unchanged in both buying and selling directions compared to yesterday.

Gold price on May 3, 2025: Gold price decreased for the second consecutive week

As of 1:30 p.m. today, the price of 9999 Hung Thinh Vuong round gold rings at DOJI is listed at 114-116.5 million VND/tael (buy - sell); unchanged in both buying and selling directions compared to yesterday.

Bao Tin Minh Chau listed the price of gold rings at 116.6-119.7 million VND/tael (buy - sell); an increase of 200 thousand VND/tael in both buying and selling directions compared to yesterday.

The latest gold price list today, May 3, 2025 is as follows:

Gold price today	May 3, 2025 (million dong)		Difference (thousand dong/tael)
Gold price today	Buy	Sell	Buy	Sell
SJC in Hanoi	119.3	121.3	-	-
DOJI Group	119.3	121.3	-	-
Red Eyelashes	118	119.5	-	-
PNJ	119.3	121.3	-	-
Vietinbank Gold		121.3		-
Bao Tin Minh Chau	118.3	121	+200	-
Phu Quy	118.3	121.3	-	-

1. DOJI - Updated: 5/3/2025 1:30 PM - Source website time - ▼/▲ Compared to yesterday.
Domestic gold price	Buy	Sell
AVPL/SJC HN	119,300	121,300
AVPL/SJC HCM	119,300	121,300
AVPL/SJC DN	119,300	121,300
Raw material 9999 - HN	113,800	115,600
Raw material 999 - HN	113,700	115,500

2. PNJ - Updated: 5/3/2025 1:30 PM - Source website time - ▼/▲ Compared to yesterday.
Type	Buy	Sell
SJC 999.9 gold bar	11,930	12,130
PNJ 999.9 Plain Ring	11,400	11,700
Kim Bao Gold 999.9	11,400	11,700
Gold Phuc Loc Tai 999.9	11,400	11,700
999.9 gold jewelry	11,400	11,650
999 gold jewelry	11,388	11,638
9920 jewelry gold	11,317	11,567
99 gold jewelry	11,294	11,544
750 Gold (18K)	8.003	8,753
585 Gold (14K)	6,080	6,830
416 Gold (10K)	4.111	4,861
PNJ Gold - Phoenix	11,400	11,700
916 Gold (22K)	10,431	10,681
610 Gold (14.6K)	6,372	7.122
650 Gold (15.6K)	6,838	7,588
680 Gold (16.3K)	7,187	7,937
375 Gold (9K)	3,634	4,384
333 Gold (8K)	3.110	3,860

3. SJC - Updated: 5/3/2025 1:30 PM - Source website time - ▼/▲ Compared to yesterday.
SJC Gold 1L, 10L, 1KG	119,300	121,300
SJC gold 5 chi	119,300	121,300
SJC gold 0.5 chi, 1 chi, 2 chi	119,300	121,300
SJC 99.99% gold ring 1 chi, 2 chi, 5 chi	114,000	116,500
SJC 99.99% gold ring 0.5 chi, 0.3 chi	114,000	116,600
Jewelry 99.99%	114,000	115,900
Jewelry 99%	110,752	114,752
Jewelry 68%	72,969	78,969
Jewelry 41.7%	42,485	48,485

World gold price today 5/3/2025 and world gold price fluctuation chart in the past 24 hours

According to Kitco, the world gold price recorded at 1:30 p.m. today, Vietnam time, was 3,239.27 USD/ounce. Today's gold price decreased by 13.21 USD/ounce compared to yesterday. Converted according to the USD exchange rate at Vietcombank (26,180 VND/USD), the world gold price is about 103.27 million VND/tael (excluding taxes and fees). Thus, the price of SJC gold bars is 18.03 million VND/tael higher than the international gold price.

World gold prices ended the week down 2.27% from the previous week, marking the second consecutive week of decline. In the final trading session of the week, the June gold futures contract closed at $3,247.40/ounce, down just $0.9, or 0.03%. Previously, gold prices had fallen for three consecutive sessions with a total decline of more than $106.

The downward pressure on gold prices this week mainly came from global investor sentiment shifting towards risky assets, which was boosted by positive signals from trade relations between the US and China.

Kevin Hassett, Director of the US National Economic Council, is optimistic about the progress of negotiations between the two countries. China has not confirmed any official negotiations, but has made moves to reduce tariffs on some US goods. These conciliatory signals have helped the market expect that the two largest economies in the world will gradually cool down tensions.

At the same time, the US employment report also attracted attention. The US Bureau of Labor Statistics announced that the number of non-farm jobs in April increased by 177,000, higher than MarketWatch's forecast of 133,000, although still lower than the adjusted level of 185,000 in March. This data was considered positive, contributing to optimism in the US stock market, when major indexes such as the Dow Jones, Nasdaq and S&P 500 all had a strong week.

Supply and demand factors are also worth noting in the world's two largest gold consuming markets. The Indian market is bustling again thanks to the Akshaya Tritiya festival season. Demand for gold here has skyrocketed as world gold prices have adjusted downwards, helping people take advantage of the opportunity to buy.

On the other hand, the Chinese market was temporarily quiet due to the International Labor Day holiday from May 1 to 5. This disrupted regular purchases from the region, reducing demand in the global gold market. However, before the holiday, Chinese investors were very active.

According to the World Gold Council, inflows into gold ETFs in China reached a record high in April, surpassing that of the US. The gold price range in the Chinese market was also higher than the international market by 34 to 48 USD/ounce, compared to 44 to 50 USD/ounce in the previous week.

Gold Price Forecast

Mr. Ole Hansen, Head of Commodity Strategy at Saxo Bank, said that the buying power from China has temporarily disappeared due to the holidays, and this is creating downward pressure on gold prices. The market is waiting to see whether Chinese investors will return strongly after the holidays. If the buying power does not recover, gold may continue to be sold off and the price may correct deeper into the $2,950 - $3,000 / ounce area, which is an important level both technically and psychologically.

Fawad Razaqzada, an expert from City Index and FOREX.com, also said that safe-haven demand is weakening and gold prices could continue to fall if they lose support around $3,200/ounce in the short term. This is an important support level that has held over the past week.

Suki Cooper, an expert at Standard Chartered Bank, said that there are still some risks in the market. Specifically, the demand for physical gold is showing signs of fluctuation, the flow of money from central banks is slowing down, while concerns about tariffs and economic recession are no longer as hot as before. These factors can reduce the role of gold as a safe haven in the eyes of investors.

Technically, the bulls still have the upper hand in the short term, but they are not as strong as before. The next target is to close above the strong resistance at $3,350/oz. Conversely, if the price is pulled below the support at $3,100/oz, the market could turn negative. The key levels to watch in the immediate future are resistance at $3,277/oz and $3,300/oz, while the nearest support is around $3,234.5/oz and the weekly low at $3,209.4/oz.

Recent forecasts suggest that confidence in gold’s bullish outlook remains strong. In a survey of 29 traders and analysts, the average gold price forecast for 2025 was raised to $3,065 an ounce, up from $2,756 three months ago. The forecast for 2026 was also raised to $3,000 an ounce.

Not all views are bearish, however. UBS Bank maintains a positive view on gold, seeing it as an important hedge against political risk and financial instability. According to UBS, although gold is under short-term pressure, it is supported in the long term by continued central bank purchases, stable investment demand and the trend of many countries reducing their dependence on the US dollar.

UBS said investors who currently do not have enough gold in their portfolios should consider taking advantage of this price drop to buy more to increase the portfolio's resilience in the future.

Source: https://baonghean.vn/gia-vang-ngay-3-5-2025-gia-vang-trong-nuoc-va-the-gioi-giam-tuan-thu-2-lien-tiep-10296453.html