Gold price today 3.5: Strong tensions

Updated SJC gold price

As of 9:30 a.m., the price of SJC gold bars was listed by Saigon Jewelry Company at VND 119.3-121.3 million/tael (buy in - sell out), 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 in - sell out), 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 118.3-121 million VND/tael (buy - sell), an increase of 300,000 VND/tael for buying and kept the same for selling. The difference between buying and selling prices is at 2.7 million VND/tael.

Phu Quy Jewelry Group listed the price of SJC gold bars at 118.3-121.3 million VND/tael (buy in - sell out), unchanged. The difference between buying and selling prices is at 3 million VND/tael.

9999 round gold ring price

As of 9:30 a.m., the price of Hung Thinh Vuong 9999 round gold rings at DOJI was listed at 114-116.5 million VND/tael (buy in - sell out), 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 116.6-119 7.3 million VND/tael (buy - sell), an increase of 300,000 VND/tael for buying and an increase of 100,000 VND/tael for selling. The difference between buying and selling is 3.1 million VND/tael.

Phu Quy Gold and Stone Group listed the price of gold rings at 114.5-117.5 million VND/tael (buy in - sell out), an increase of 200,000 VND/tael in both directions. 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 9:30 a.m., the world gold price listed on Kitco was around 3,239.6 USD/ounce, up 11.4 USD.

Gold price forecast

Gold prices were under pressure as risk-off sentiment improved over the weekend following positive signals from US-China trade relations.

Mr. Kevin Hassett - Director of the US National Economic Council - expressed optimism about the progress of tariff negotiations between the two countries. Meanwhile, China denied having official negotiations, but still said it was always ready for dialogue and had granted tax concessiones on some US goods. This shows that both sides are sending goodwill signals.

According to market analyst Fawad Razaqzada of City Index and FOREX.com, safe-haven demand is weakening, prices may turn and decrease further, with the possibility of breaking this week's support level near the $3,200/ounce area.

Meanwhile, UBS said in a recent announcement: We remain bullish on gold as a hedge against political risk, as we expect more volatility, but gold will continue to be strongly supported in the long term thanks to central bank purchases, investment demand, and de-dollarization trends.

The bank said that investors who have not yet allocated enough to gold can see the recent price drop as an opportunity to buy more or adjust their portfolios to increase long-term resilience.

Technically, buyers are still holding a short-term advantage, but have somewhat weakened. The next target for buyers is to close above the strong resistance level at $3,350/ounce. On the contrary, the sellers want to pull prices below the solid support zone at 3,100 USD/ounce.

The first resistance was an overnight high of $3,277, followed by $3,300/ounce. First support was at an overnight low of $3,234.5, followed by a weekly low of $3,209.4/ounce.

In another development, in India, the vibrant gold market again thanks to the Akshaya Tritiya festival season, pushing the demand for retail increased sharply when gold price decreases. According to Reuters, for the first time after 5 months, the price of gold here is traded higher than the official price. At the beginning of the week, gold was discounted 24 USD/ounce, but the weekend was added 3 USD.

A strong correction from the peak of 3,500 USD/ounce has stimulated buying demand in the subcontinent. Many consumers are waiting for stable prices to enter the market.

Meanwhile, China - the world's largest gold consumer - temporarily suspended trading due to a holiday from 1 to 5.5, disrupting purchasing power from this country.