Gold prices rise, 'sharks' accumulate 5.5 tons in 2 sessions.

On the world market, the spot gold price on May 6th (Vietnam time) was trading at $2,017 per ounce. Gold futures were trading at $2,018 per ounce. On a weekly basis, the world gold price increased by 1.3%.

The SPDR Gold Trust, the world's largest gold exchange-traded fund (ETF), bought a net 1.8 tonnes of gold on May 5th. This brings the total net purchases to 5.5 tonnes over two consecutive sessions. The fund's gold holdings now stand at 931.8 tonnes.

Inflows into gold ETFs increased significantly in March, driven by concerns about US economic risks.

Demand for gold has surged. (Photo: Reuters)

According to the World Gold Council's (WGC) quarterly demand trends report, global gold demand declined in the first three months of the year.

Total gold demand in the first quarter of 2023 decreased by 13% year-on-year to 1,081 tonnes.

China's jewelry demand was 198 tonnes. The US purchased 32 tonnes of gold bars and coins, the highest level in any quarter since 2010, due to concerns about banking and economic instability.

Gold bullion and coin sales declined in Europe, and demand for jewelry in India fell to its lowest level in three years.

Central banks purchased 228 tonnes of gold, more than in any first quarter since 2000.

Domestic gold prices fell by 150,000 VND per tael.

Prior to the holiday, the price of 9999 gold bars at SJC Ho Chi Minh City was 66.6 million VND/ounce (buying price) and 67.2 million VND/ounce (selling price). SJC Hanoi listed the price at 66.6 million VND/ounce (buying price) and 67.22 million VND/ounce (selling price).

Doji Hanoi listed gold at 66.55 million VND/ounce (buying price) and 67.15 million VND/ounce (selling price). Doji Ho Chi Minh City bought SJC gold at 66.5 million VND/ounce and sold it at 67.1 million VND/ounce.

Gold price chart for the past week. (Photo: D.Anh)

Over the past week, while global gold prices rose sharply at several points, the domestic market remained relatively stable.

At the close of trading on May 6th, the price of 9999 gold bars at SJC Ho Chi Minh City was 66.35 million VND/ounce (buying price) and 67.05 million VND/ounce (selling price). SJC Hanoi listed the price at 66.35 million VND/ounce (buying price) and 67.07 million VND/ounce (selling price).

Doji Hanoi listed gold at 66.4 million VND/ounce (buying price) and 67.1 million VND/ounce (selling price). Doji Ho Chi Minh City bought SJC gold at 66.5 million VND/ounce and sold it at 67.1 million VND/ounce.

On a weekly basis, the price of gold at SJC decreased by 250,000 VND/ounce for buying and 150,000 VND/ounce for selling. At Doji, the price of gold decreased by 150,000 VND/ounce (buying) and 50,000 VND/ounce (selling).

Gold ring prices hit a new record high . Domestic gold ring prices continued to rise sharply today (May 5th), reaching a record high. Meanwhile, gold bar prices reversed course and fell slightly.

Source: https://vietnamnet.vn/gia-vang-tang-ca-map-gom-2-phien-5-5-tan-2140083.html