Domestic gold price today 5/2/2025

At the time of survey at 3:30 p.m. on May 2, 2025, the domestic gold prices of Bao Tin Minh Chau and Mi Hong increased slightly again after a sharp decrease yesterday. Specifically:

The price of SJC gold bars listed by DOJI Group is at 119.3-121.3 million VND/tael (buy - sell), the price remains unchanged in both buying and selling directions compared to yesterday.

At the same time, the price of SJC gold bars was listed by Saigon Jewelry Company Limited - SJC at 119.3-121.3 million VND/tael (buy - sell), the price remained unchanged in both buying and selling directions compared to yesterday.

At Mi Hong Jewelry Company, the price of Mi Hong gold at the time of survey was listed at 118-119.5 million VND/tael for buying and selling. Compared to yesterday, the gold price increased by 2 million VND/tael for buying and 1 million VND/tael for selling.

SJC gold price at Bao Tin Minh Chau Company Limited is traded by businesses at 118.1-121 million VND/tael (buying - selling, slightly increased by 100 thousand VND/tael in buying direction - unchanged in selling direction compared to yesterday.

SJC gold price at Phu Quy is traded by businesses at 118.3-121.3 million VND/tael (buy - sell), gold price remains unchanged in both buying and selling directions compared to yesterday.

As of 1:30 p.m. today, the price of 9999 Hung Thinh Vuong round gold rings at DOJI is listed at 114-116.5 million VND/tael (buy - sell); unchanged in both buying and selling directions compared to yesterday.

Bao Tin Minh Chau listed the price of gold rings at 116.4-119.7 million VND/tael (buy - sell); an increase of 100 thousand VND/tael in both buying and selling directions compared to yesterday.

The latest gold price list today, May 2, 2025 is as follows:

World gold price today 5/2/2025 and world gold price fluctuation chart in the past 24 hours

According to Kitco, the world gold price recorded at 3:30 p.m. today, Vietnam time, was 3,258.9 USD/ounce. Today's gold price increased by 26 USD/ounce compared to yesterday. Converted according to the USD exchange rate at Vietcombank (26,180 VND/USD), the world gold price is about 103.9 million VND/tael (excluding taxes and fees). Thus, the price of SJC gold bars is 17.4 million VND/tael higher than the international gold price.

World gold prices rose slightly again as investors rushed to buy when prices fell after yesterday's strong selling. World gold prices hit their lowest since mid-April and fell about 2% in value compared to last week, the sharpest weekly decline since late February 2025. US gold futures also rose 1.3% to $3,263/ounce.

As concerns over trade tensions temporarily ease, the market is turning its attention to the US economic report. Tonight (early tomorrow morning Vietnam time), the US non-farm payrolls report will be released to look for further signals on the direction of the Federal Reserve's interest rate policy.

On the Chinese side, the country's Ministry of Commerce said it was considering a negotiation proposal from Washington regarding the 145% tariff imposed by US President Donald Trump. However, China also warned the US not to use threats and coercion during the negotiation process.

Ms. Soni Kumari, a commodity analyst at ANZ Bank, commented that although signs of easing tensions in tariff policies are emerging, the market still has many uncertain factors. Therefore, gold is still favored by investors as a safe haven.

She also believes that each time the gold price corrects down, it is considered an attractive buying opportunity. If the price continues to fall to near $3,000/ounce, there is a high possibility that more investment money will flow into this precious metal.

Campbell Harvey of Research Affiliates says that the current price of gold can be likened to the P/E ratio of stocks. When the P/E is too high, expected future returns are often low. In the past, those who bought gold at too high a price often did not make a profit after a decade. Conversely, those who invested when gold was low often received better returns after adjusting for inflation.

In Asia, Chinese markets are closed for the May 1-5 International Labor Day holiday. In India, the world's largest gold consumer, gold prices have started trading at a premium to international prices for the first time in five months, due to increased demand during major festivals.

In addition to gold, other precious metals also had positive developments. Spot silver prices increased 0.5% to $32.57 an ounce. Platinum increased 1.1% to $968.76 an ounce. Palladium also increased 1.1% to $950.79 an ounce.

Gold Price Forecast

Some analysts believe that gold prices may continue to correct further. However, many still believe that these corrections are only temporary, and that buying will continue as the uptrend that has lasted for nearly two years has not been broken.

This adjustment is not too surprising, because the profit-taking wave started at the end of March. Data from the US Commodity Futures Trading Commission shows that the net long contract volume has decreased by 34% in the past five weeks, to about 120,902 contracts.

Trade Nation expert David Morrison believes that the $3,200 price zone is not a solid support for buyers yet. He commented that the MACD technical indicator has turned down, while gold is still in an overbought state. This shows that the bearish momentum is still dominant.

The $3,200 mark is only symbolic, not a strong barrier. If selling pressure continues to increase, gold prices may retreat to $3,150 or even $3,000/ounce to retest the market's durability.

In Australia, Aaron Hill of FP Markets said that if trade agreements are achieved with clarity, money will flow into riskier assets such as stocks or industrial commodities, which will reduce the appeal of gold. On the contrary, if the statements are purely political and not accompanied by specific actions, gold could quickly recover and find a new low.

In the short term, gold prices could remain under pressure as long as risk appetite remains strong and economic data continues to improve, but if trade talks stall or the labor market deteriorates rapidly, gold could soon regain its upward momentum, Hill said.

Bart Melek, head of commodity strategy at TD Securities, also said that gold prices could fall to the $3,000 range if trade negotiations progress positively. However, he still expects the average gold price to reach $3,500 per ounce in the fourth quarter of this year.

Melek believes that it is too late for trade deals to save the economy from recession and control inflation. Therefore, it is likely that the Fed will have to cut interest rates even though inflation has not fallen much. In addition, the increasingly deteriorating relationship between the US and many strategic partners has caused investors and central banks to gradually withdraw from the US dollar and US bonds. This will help gold regain its favor, especially when the cost of holding it decreases with loose monetary policy.