Gold price on April 5: Gold rings and gold bars continue to decrease by nearly 2 million VND/tael

Opening today's trading session, domestic gold prices continued to fall sharply, but still maintained the 100 million VND/tael mark.

Specifically, at 10:00 a.m. on April 5, Saigon Jewelry Company (SJC) listed the buying and selling price of SJC gold bars at VND97.1-100.1 million/tael, down VND1.7 million per tael for buying and VND1.2 million per tael for selling compared to the previous session. The difference between buying and selling was VND3 million.

The price of SJC 9999 gold ring is 97 million VND/tael for buying and 100 million VND/tael for selling, down 1.7 million VND/tael for buying and 1.2 million VND/tael for selling compared to the previous session.

Meanwhile, DOJI gold bar price in Hanoi and Ho Chi Minh City was bought at 97.1 million VND/tael and sold at 100.1 million VND/tael, down 1.7 million VND per tael for buying and 1.2 million VND per tael for selling compared to the previous session.

This brand listed the price of Doji Hung Thinh Vuong 9999 gold ring at a further decrease of 1.8 million VND per tael for buying and 1.2 million VND per tael for selling compared to yesterday's closing price, buying and selling transactions were 96.7-100.1 million VND/tael, respectively.

PNJ Gold listed buying price at 97.5 million VND/tael and selling price at 100.1 million VND/tael, down 1.2 million VND per tael in both directions (buying-selling) compared to the previous session.

As of 10:00 a.m. on April 5 (Vietnam time), the world gold price decreased by another 77.9 USD compared to the previous session's close, down to 3,036.8 USD/ounce.

World gold prices continued to decline, ending a streak of five consecutive weeks of price increases. The US reciprocal tax policy applied to many countries at a level higher than economists had predicted caused investors to sell off gold to offset losses from other assets.

Immediately after the US reciprocal tariffs were announced, Canada, China, the European Union and other countries immediately prepared retaliatory measures, raising concerns about global economic growth and international inflation. In particular, China announced that it would impose a 34% tariff on all goods imported from the US starting April 10.

Recently, US Federal Reserve Chairman Jerome Powell warned that new tariffs could push inflation back up, weakening expectations of interest rate cuts and putting pressure on gold prices.

In addition, the recovery of the US dollar also caused gold prices to fall sharply. The increase in the US Dollar Index made gold bars priced in greenbacks more expensive for foreign buyers.

Despite the sharp drop, gold's gain this year is still around 15.3%, thanks to strong central bank buying and the metal's general appeal as a hedge against economic and geopolitical uncertainties.

Central banks are expected to continue buying gold to diversify foreign exchange reserves and reduce dependence on the US dollar, due to risks from President Trump's policies.

According to David Meger, director of metals trading at High Ridge Futures, the drop in gold prices is just a temporary correction before continuing to rise.

In the coming week, the market will continue to monitor speeches from Fed officials, the minutes of the latest policy meeting, along with consumer and producer inflation data. This information will shape expectations about monetary policy and the next direction of gold prices in the medium term.

This morning, the USD-Index rose again to 103.02 points; the yield on 10-year US Treasury bonds decreased slightly to 3.999%; US stocks continued to decline; oil prices fell sharply, trading at 65.58 USD/barrel for Brent oil and 61.99 USD/barrel for WTI oil.

Source: https://baotuyenquang.com.vn/gia-vang-ngay-5-4-vang-nhan-vang-mieng-tiep-tuc-giam-them-gan-2-trieu-dong-luong-209574.html