Updated SJC gold price
As of 9:00 a.m., the price of SJC gold bars was listed by Saigon Jewelry Company at VND 119.3 - 121.3 million/tael (buy - sell), unchanged. The difference between buying and selling prices is at 2 million VND/tael.
At the same time, the price of SJC gold bars was listed by DOJI Group at 119.3 - 121.3 million VND/tael (buy - sell), unchanged. The difference between buying and selling prices is at 2 million VND/tael.
Meanwhile, Bao Tin Minh Chau listed the price of SJC gold bars at 118 - 121 million VND/tael (buy - sell), down 1.2 million VND/tael for buying and down 300,000 VND/tael for selling. The difference between buying and selling prices is at 3 million VND/tael.
Phu Quy Jewelry Group listed the price of SJC gold bars at 118.3 - 121.3 million VND/tael (buy - sell), unchanged. The difference between buying and selling prices is at 3 million VND/tael.
9999 round gold ring price
As of 9:00 a.m., the price of Hung Thinh Vuong 9999 round gold rings at DOJI was listed at 114 - 116.5 million VND/tael (buy - sell), unchanged. The difference between buying and selling prices is at 2.5 million VND/tael.
Bao Tin Minh Chau listed the price of gold rings at 116.3 - 119.6 million VND/tael (buy - sell), down 200,000 VND/tael for buying and kept the same for selling. The difference between buying and selling is 3.3 million VND/tael.
Phu Quy Gold and Stone Group listed the price of gold rings at 114.3 - 117.3 million VND/tael (buy - sell), unchanged. The difference between buying and selling prices is at 3 million VND/tael.
In the context of strong fluctuations in domestic gold prices, the buying-selling gap is pushed too high, increasing the risk for individual investors. Personal investors, especially those with a "surfing" mentality, need to consider carefully before putting money down.
World gold price
At 9:00 a.m., the world gold price listed on Kitco was around 3,228.2 USD/ounce, down 16.6 USD.
Gold price forecast
According to Kitco, gold prices fell sharply as risk-off sentiment in the market improved over the weekend. Profit-taking and sell-off from short-term investors are the main reasons for price declines. Silver prices also decreased slightly.
According to Bob Haberkorn, senior market strategist at RJO Futures, the safe-haven profit-taking has taken place as signs of the possibility of reaching a trade deal between countries are becoming increasingly clear.
US President Donald Trump has said the US has possible of reaching a trade deal with India, South Korea and Japan, while he is using tariff policies to promote these negotiations. He also shared that there is a very good opportunity to reach an agreement with China.
According to Reuters, a social media account linked to Chinese state media said the US had approached China to negotiate the Trump administration's 145% tariffs, which could open up the possibility of negotiations between the two sides.
Currently, the Chinese market is closed for the International Labor Day holiday from May 1 to 5. TD Securities also noted that gold is being affected by liquidity shortages caused by the Chinese holiday season.
Data released on Wednesday showed that US economic growth in the first quarter slowed down and the personal consumption expenditure price index remained unchanged in March. The market is now waiting for the US jobs report to be released on Friday for a clearer view of the economic outlook.
The US Federal Reserve (FED) officials said interest rates will not change until there are clear signs of inflation falling to the 2% target or the job market showing signs of weakening.
Although market sentiment has improved, causing gold prices to correct in the short term, Ole Hansen, head of commodity strategy at Saxo Bank, still believes that long-term supporting factors for gold remain unchanged.
The next focus is the US April jobs report, which will be released today. This is considered the most important economic data since the beginning of the year. Analysts predict that the number of non-farm jobs will increase by 133,000, much lower than the 228,000 figure in March.
Technically, June gold futures buyers are still dominating in the short term but are weakening. The next target for buyers is to get the closing price above $3,350/ounce. On the contrary, the sellers are aiming to bring prices below the support level of 3,100 USD/ounce.
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