Gold prices continued to fall sharply on the morning of April 29th.

Domestic gold prices uniformly adjusted downwards on the morning of April 29th as world gold prices fell below $4,600 per ounce.

At the opening of the morning session, Saigon Jewelry Company Limited (SJC) listed gold bars at 163 - 166 million VND/ounce (buying price - selling price), a decrease of 1,500,000 VND/ounce in both buying and selling prices compared to the closing price on April 28th. Similarly, major brands in Hanoi such as Bao Tin Minh Chau, DOJI , and Phu Quy also listed SJC gold bars at this level.

For 9999 pure gold rings, Bao Tin Minh Chau and DOJI listed prices at 163 - 166 million VND/ounce (buy - sell), a decrease of 1,500,000 VND/ounce in both buying and selling prices. Meanwhile, Phu Quy adjusted the price of gold rings down to 162.5 - 165.5 million VND/ounce (buy - sell). Domestic gold prices are currently closely following the trend of world prices.

This is a plain round gold ring, 9999 purity.

At 8:45 AM (Vietnam time), the world gold price was trading around $4,585 per ounce, down about $90 per ounce compared to the same time on April 28th. Converted using the Vietcombank exchange rate, each ounce of world gold is worth approximately 145.8 million VND. This is also the lowest price for world gold in the past month.

Pressure on precious metals continues to mount amid concerns about liquidity in global financial markets. In an interview with Kitco News, Bert Dohmen, Chairman of Dohmen Capital, stated that increased strain in the private credit market signals a widespread tightening of liquidity. He warned, "Private credit will be the driving force behind the market," adding that as liquidity declines, investors are forced to sell highly liquid assets like gold to raise cash, thereby creating downward pressure on prices in the short term.

Simultaneously, the US financial market is also witnessing a clear divergence between asset classes, particularly in the bond market. According to Reuters, the conflict in the Middle East, now in its ninth week, is causing investors to reassess the inflation outlook and the policies of the US Federal Reserve (Fed). "From a credit perspective, yield spreads are narrowing to low levels, investors are no longer so wary of risk, as if the Middle East conflict isn't a major issue," said Jim Barnes, Director of Fixed Income at Bryn Mawr Trust.

However, in the US government bond market, sentiment is more cautious, with 10-year yields remaining around 4.3% and trending upward due to inflation concerns, particularly from energy prices. This further pushes back expectations of an early Fed interest rate cut, thereby reducing the attractiveness of gold – a non-interest-bearing asset.

The combination of weakening liquidity, technical selling pressure, and expectations of persistently high interest rates is creating an unfavorable environment for gold prices in the short term. Nevertheless, experts believe that the current volatility reflects the late stage of the market cycle, where risk is gradually shifting from institutional investors to individual investors, and major policy changes could occur if financial conditions continue to deteriorate.

In this context, gold is likely to face further significant corrections before finding a new equilibrium, especially as macroeconomic factors such as inflation, growth, and monetary policy remain in a state of stalemate.

Source: https://baotintuc.vn/kinh-te/gia-vang-sang-294-tiep-tiep-giam-sau-20260429082403116.htm