Illustration photo. Photo: Internet
Domestic gold remains stable
The domestic gold bar price phenomenon has not fluctuated much. Brands are currently listing the buying price at 119.3 million VND/tael and the selling price at 121.3 million VND/tael.
Compared to other brands, Phu Quy SJC is listing its buying and selling prices lower by VND1.3 million and VND300,000/tael, respectively. Meanwhile, Bao Tin Minh Chau brand has a difference of VND1 million lower when buying and VND300,000 lower when selling.
The price of gold rings has not recorded any adjustment compared to yesterday morning in most brands. The price for SJC 9999 gold rings is currently at 114 million VND/tael for buying and 116.5 million VND/tael for selling.
DOJI in both Hanoi and Ho Chi Minh City markets is listing the price of gold rings at 114 million VND/tael for buying and 116.5 million VND/tael for selling.
Bao Tin Minh Chau brand is currently trading gold rings at a buying price of 116.6 million VND/tael and a selling price of 119.7 million VND/tael.
PNJ Group is offering the buying price of gold rings at 112 million VND/tael, and the selling price is 116 million VND/tael.
Phu Quy SJC brand is offering to buy gold rings at 114.2 million VND/tael and sell at 117.2 million VND/tael.
World gold price developments
According to information from Kitco, the world gold price at 5:00 a.m. this morning (Vietnam time) was traded at 3,239.27 USD/ounce. Compared to yesterday, the gold price remained the same. With the USD exchange rate on the free market at 26,430 VND/USD, converted to Vietnamese currency, the world gold price is equivalent to about 103.2 million VND/tael (excluding taxes and fees). Thus, the price of SJC gold bars is about 18.1 million VND/tael higher than the international gold price.
Currently, domestic investors are closely monitoring the market situation, waiting to see how the market will adjust after the 5-day holiday. Last week, gold prices fluctuated continuously with many adjustments and ended the week with a second consecutive decline. Based on recent market fluctuations, many individual investors and experts have reduced their positive expectations for gold in the short term.
According to Adrian Day - Chairman of Adrian Day Asset Management - if trade tensions between the US and China continue to ease, demand for gold may decline in the near future.
Agreeing, market analyst Fawad Razaqzada from StoneX Bullion predicted that: “Gold prices could very well fall to $3,000/ounce if optimism around trade deals continues.”
In fact, many investors returned to stocks last week, even though the prospect of a trade deal may be long in coming, and the S&P 500 has risen more than 17% from its April low.
“I’m not sure the pullback is over. I’m bullish on the dollar and expect higher US yields in the near term. That could send gold lower to the $3,150-$3,165/oz range. Conversely, a return to $3,315/oz would ease some of the downside concerns,” said Marc Chandler, CEO of Bannockburn Global Forex.
Experts at CPM Group advise that those who do not have a position should continue to stay out, while those who are holding gold should hold it for the long term and wait to buy more when the price adjusts down. According to the forecast of this analysis group, the price of gold may fall to $3,150/ounce, then possibly to $3,000/ounce within the next 2 weeks.
After a week of paying attention to employment data, investors are now waiting for new developments along with the Federal Reserve's interest rate decision this week. Analysts are leaning towards the possibility that the Fed will maintain the current interest rate at this policy meeting. The focus of the market will be on the speech of Fed Chairman Jerome Powell and the press interview after the meeting.
Fed governors will also be at the Reykjavik Economic Conference this week for talks on artificial intelligence, labor markets and monetary policy research. Investors will also be closely watching reports on U.S. service sector activity and weekly jobless claims.
Source: https://doanhnghiepvn.vn/kinh-te/gia-vang-ngay-5-5-tiep-tuc-ha-do-cang-thang-thuong-mai-my-trung-giam-nhiet/20250505074900148
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