Gold price update at the end of May 4th session: World gold sharply decreases

SJC gold bar price

As of 5:30 PM, SJC gold bar prices were listed by DOJI at 163.3-166.3 million VND/tael (buying - selling), an increase of 300,000 VND/tael in both buying and selling directions. The difference between buying and selling prices is at the threshold of 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 163.3-166.3 million VND/tael (buying - selling), an increase of 300,000 VND/tael in both buying and selling directions. The difference between buying and selling prices is at the threshold of 3 million VND/tael.

9999 gold ring price

As of 5:30 PM, DOJI listed the price of gold rings at 163.3-166.3 million VND/tael (buying - selling), an increase of 300,000 VND/tael 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 the price of gold rings at the threshold of 163.3-166.3 million VND/tael (buying - selling), an increase of 300,000 VND/tael 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 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.

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 5:30 PM, world gold prices were listed around the threshold of 4,544.1 USD/ounce, down 69.3 USD compared to the previous day.

Gold price forecast

World gold prices enter this week with increased adjustment pressure as many unfavorable factors appear at the same time. From a technical perspective, the recent recovery momentum is showing signs of weakening, while the high interest rate environment continues to reduce the attractiveness of precious metals.

Mr. Marc Chandler - Managing Director of Bannockburn Global Forex - said that gold prices are losing momentum to increase after failing to maintain their upward momentum around the 4,647 USD/ounce zone. According to him, weakening buying power makes the price risk returning to test the important support zone around 4,495 USD/ounce. If this level is broken, gold may continue to fall deeper, with the next target zone around 4,400 USD/ounce.

Technical developments are also sending negative signals as momentum indicators weaken, showing that the short-term uptrend is no longer sustainable. This makes the correction scenario continue to be noted by many experts this week.

Notably, pressure also comes from macroeconomic factors. The rise of the USD along with higher bond yields has increased the opportunity cost of holding gold. According to Mr. Giovanni Staunovo - UBS analyst, the combination of a stronger greenback and high interest rates, in the context of rising oil prices, is the main factors putting pressure on gold prices.

Geopolitical tensions in the Middle East continue to be a major variable in the market. Oil prices rose sharply, at times exceeding 113 USD/barrel, raising concerns about inflation returning. As energy costs escalate, central banks are forced to maintain a more cautious monetary policy, even extending the time to keep interest rates at high levels.

In that context, gold - a non-profit asset - becomes less attractive than other investment channels. This is also the reason why the precious metal has decreased significantly compared to the beginning of the year, when cash flow tended to shift to profitable assets.