Gold price today May 2nd: Struggle, facing mixed impacts

Khương Duy |

Gold price today May 2nd: The world gold market is struggling above the threshold of 4,600 USD/ounce. Domestic gold is trading around 163-166 million VND/tael.

SJC gold bar price

As of 9:15 am, SJC gold bar prices were listed by DOJI Group 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.

Diễn biến giá vàng SJC những phiên giao dịch gần đây. Biểu đồ: Khương Duy
SJC gold price movements in recent trading sessions. Chart: Khuong Duy

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.

Giá vàng miếng SJC tại một số đơn vị kinh doanh. Đơn vị: đồng/lượng. Bảng: Khương Duy
SJC gold bar price at some business units. Unit: VND/tael. Table: Khuong Duy

9999 gold ring price

As of 9:15 am, DOJI Group listed the price of gold rings at 163-166 million VND/tael (buying - selling), an increase of 500,000 VND/tael in both buying and selling directions. The difference between buying and selling prices is at 3 million VND/tael.

Giá vàng nhẫn trơn tại một số đơn vị kinh doanh. Đơn vị: đồng/lượng. Bảng: Khương Duy
Price of plain gold rings at some business units. Unit: VND/tael. Table: Khuong Duy

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 Jewelry Group listed the price of gold rings at 163-166 million VND/tael (buying - selling), an increase of 500,000 VND/tael in both buying and selling directions. The difference between buying and selling prices is at 3 million VND/tael.

Domestic gold prices are going sideways due to holidays. 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.

Giá vàng nhẫn trơn tại một số đơn vị kinh doanh. Đơn vị: đồng/lượng. Bảng: Khương Duy
Price of plain gold rings at some business units. Unit: VND/tael. Table: Khuong Duy

World gold price

At 9:21 am, world gold prices were listed around the threshold of 4, 613.4 USD/ounce, down 2.9 USD compared to the previous day.

Diễn biến giá vàng thế giới những phiên giao dịch gần đây. Biểu đồ: Khương Duy
Developments in world gold prices in recent trading sessions. Chart: Khuong Duy

Gold price forecast

World gold prices are facing many opposite pulling forces as inflationary pressure returns due to strong energy prices, forcing central banks to maintain a more cautious stance on monetary policy.

In the context of the conflict in Iran showing no signs of cooling down, the oil supply shock is seen as a factor triggering a new wave of inflation. According to the World Bank's assessment, global energy prices may increase sharply in 2026, making it difficult for central banks to soon ease policies as previously expected.

This increases the "opportunity cost" of holding gold – a non-interest-generating asset – as the prospect of interest rate cuts is pushed back. In fact, the market is shifting from loose expectations to a state of "waiting and observing", causing the upward momentum of the precious metal to be curbed.

Mr. Lukman Otunuga - senior market strategist at FXTM - said that gold prices may continue to be under pressure in the short term as oil prices remain high and geopolitical tensions persist. According to him, the 4,600 USD/ounce mark is playing an important psychological threshold, with the risk of falling further if broken.

However, in the opposite direction, the foundational factors of the gold market are still quite solid. The World Gold Council's report shows that global gold demand in the first quarter is still increasing, especially physical gold demand in Asia. This reflects the risk-prevention sentiment still present in the context of a global economy with many potential instabilities.

The latest developments also show that gold still maintains its shelter role as US manufacturing data is disappointing, raising concerns about the stagnation. In an environment of weak growth but high inflation, precious metals often receive certain support.

Analysts believe that in the short term, gold prices may continue to fluctuate in a narrow range due to the simultaneous impact of interest rates and inflation. However, in the long term, the upward trend has not been broken, although the market may experience stronger corrections.

Gold price data is compared to the previous day.

See more news related to gold prices HERE...

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