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World slightly down, domestic up

VietNamNetVietNamNet05/06/2023


Domestic gold price today

Early morning of June 5 , SJC gold price 9999 today increased by 50 thousand VND/tael in buying price but decreased by 50 thousand VND/tael in selling price compared to last weekend.

The price of 9999 gold was updated by Saigon Jewelry Company Limited (SJC) at 8:37 a.m. and the price of 9999 gold was listed by Doji Jewelry Group at 8:33 a.m. as follows:

Buy Sell
SJC Hanoi 66,400,000 VND/tael 67,020,000 VND/tael
SJC HCMC 66,400,000 VND/tael 67,000,000 VND/tael
SJC Danang 66,400,000 VND/tael 67,020,000 VND/tael
Doji Hanoi 66,350,000 VND/tael 66,950,000 VND/tael
Doji HCMC 66,450,000 VND/tael 66,950,000 VND/tael

SJC and DOJI gold price list updated early morning June 5

At the end of the trading session on June 3, the price of 9999 gold bars at SJC Ho Chi Minh City was 66.35 million VND/tael (buy) and 67.05 million VND/tael (sell). SJC Hanoi listed at 66.35 million VND/tael (buy) and 67.07 million VND/tael (sell).

Doji Hanoi listed at 66.35 million VND/tael (buy) and 66.95 million VND/tael (sell). Doji Ho Chi Minh City bought SJC gold at 66.45 million VND/tael and sold at 66.95 million VND/tael.

The central exchange rate on June 5 announced by the State Bank is 23,693 VND/USD, down 29 VND compared to last weekend. The USD price at commercial banks this morning (June 5) was traded around 23,300 VND/USD (buy) and 23,670 VND/USD (sell).

International gold price today

At 9:53 a.m. today (June 5, Vietnam time), the world spot gold price stood at around 1,944.9 USD/ounce, down 2.1 USD/ounce compared to last night. The price of gold futures for August delivery on the Comex New York floor was at 1,961.3 USD/ounce.

On the morning of June 5 , world gold converted to USD bank price was nearly 55.5 million VND/tael (excluding tax and fees), about 11.52 million VND/tael lower than domestic gold price.

Fluctuations in international gold prices in the past 24 hours (Photo: Kitco)

On the world market, the spot gold price on June 3 (Vietnam time) was trading at 1,947 USD/ounce. The futures gold price was trading at 1,948 USD/ounce.

The latest Kitco News weekly gold survey shows that both Wall Street and Main Street analysts are bullish on gold in the near term.

Gold prices are unlikely to increase. (Photo: Kitco)

Although the price of gold could not rise to $2,000/ounce at the end of last week, it escaped the lowest price in 2 months. This will be an important driving force for the price of gold to increase in the coming time.

A weaker dollar next week will support gold, but prices won’t break above $2,000 an ounce, said Colin Cieszynski, chief market strategist at SIA Wealth Management Inc.

In addition, gold prices are rising amid stable US economic indicators. But in the long term, gold prices are unlikely to break out to approach the all-time high set last month.

Gold Price Forecast

Last week, 19 Wall Street analysts participated in the Kitco News Gold Survey. Of those who participated, 53% of the experts said they saw gold prices rising next week, while 26% said they saw prices falling next week. The remaining 21% said they saw gold trading sideways.

Meanwhile, 509 votes were cast in online polls. The results showed that 307 respondents, or 60%, thought gold prices would rise next week. Another 124, or 24%, thought gold prices would fall. The remaining 78, or 15%, said gold prices would remain flat in the coming period.



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