Gold price update at the closing session on April 30: World increases, domestic stagnation

SJC gold bar price

As of 6:45 PM, SJC gold bar prices were listed by DOJI at 163-166 million VND/tael (buying - selling), unchanged in both buying and selling directions. The difference between buying and selling prices is at 3 million VND/tael.

SJC gold bar prices were listed by Bao Tin Minh Chau at the threshold of 163-166 million VND/tael (buying - selling), unchanged in both buying and selling directions. The difference between buying and selling prices is at the threshold of 3 million VND/tael.

Phu Quy Jewelry Group listed SJC gold bar prices at 163-166 million VND/tael (buying - selling), unchanged in both buying and selling directions. The difference between buying and selling prices is at 3 million VND/tael.

9999 gold ring price

As of 6:45 PM, DOJI listed gold ring prices at the threshold of 162.5-165.5 million VND/tael (buying - selling), unchanged in both buying and selling directions. The difference between buying and selling prices is at the threshold of 3 million VND/tael.

Bao Tin Minh Chau listed gold ring prices at the threshold of 163-166 million VND/tael (buying - selling), unchanged in both buying and selling directions. The difference between buying and selling prices is at the threshold of 3 million VND/tael.

Phu Quy Gold and Gems Group listed the price of gold rings at 162.5-165.5 million VND/tael (buying - selling), unchanged in both buying and selling directions. The difference between buying and selling prices is at 3 million VND/tael.

Currently, the buying - selling price difference of gold is at a very high level, around 3 million VND/tael, posing a risk of losses for investors.

World gold price

At 6:45 PM, world gold prices were listed around the threshold of 4, 628.1 USD/ounce, an increase of 62.6 USD compared to the previous day.

Gold price forecast

The world gold market is showing signs of struggling as it is simultaneously affected by US monetary policy and escalating geopolitical tensions.

After a period of adjustment, gold prices have recovered thanks to bottom-fishing buying in the context of the weakening USD and increased safe-haven demand.

Speaking after the most recent meeting, US Federal Reserve (Fed) Chairman Jerome Powell said that the agency is not in a hurry to change monetary policy in the context of great uncertainty. "We are in a position to be flexible in both directions... all decisions will depend on the upcoming developments" - he said. According to Mr. Powell, the current interest rate level is around 3.5% - close to the neutral zone, enough for the Fed to observe further before acting.

However, the gold market did not react strongly to these statements. Analysts believe that expectations of interest rate cuts this year have decreased significantly, but the possibility of interest rate hikes is also not high, thereby helping gold maintain a relatively solid price base. Some experts believe that concerns about political pressure on the independence of the Fed inadvertently strengthen the role of gold as a neutral monetary asset.

In another development, tensions in the Middle East, especially related to the US-Iran conflict, are pushing energy prices up sharply, leading to the risk of global inflation. Brent oil prices at times exceeded 120 USD/barrel, while many Asian currencies weakened under energy cost pressure. This prompted cash flow to turn to gold as a safe haven channel.

In addition, the depreciation of the USD in the recent trading session also created a significant push for the precious metal. The "cheap goods hunting" activity of investors after the previous decline helped gold prices rebound strongly.

In the short term, experts believe that gold prices will continue to fluctuate widely, depending on geopolitical developments and policy signals from the Fed. In the context of existing risks, gold is likely to maintain a defensive role, but adjustment pressure may still appear if the USD recovers or bond yields rise again.