Domestic gold price today

Domestic gold bar prices remained stable on the first day of the holiday. Currently, gold brands are buying at VND119.3 million/tael and selling at VND121.3 million/tael. Phu Quy SJC gold is buying at VND1 million lower than other brands.

Similarly, the buying and selling prices of gold rings of various brands are also maintained at the same level as yesterday morning. Specifically, the price of SJC 9999 gold rings is fixed at 114 million VND/tael for buying and 116.5 million VND/tael for selling.

Domestic gold prices are stable. Photo: dantri.com.vn

DOJI in Hanoi and Ho Chi Minh City markets listed the price of gold rings at 114 million VND/tael for buying and 116.5 million VND/tael for selling.

Bao Tin Minh Chau listed the price of plain round gold rings at 116.9 million VND/tael for buying and 119.9 million VND/tael for selling.

PNJ brand gold ring price is listed at 114 million VND/tael for buying and 117 million VND/tael for selling.

Phu Quy SJC is buying gold rings at 115 million VND/tael and selling at 118 million VND/tael.

Domestic gold bar prices updated at 5:30 a.m. on May 1 as follows:

World gold price today

World gold prices continued to decline, with spot gold falling $29.7 to $3,289 an ounce. Gold futures last traded at $3,319.7 an ounce, down $14.5 from early this morning.

Gold prices continued to fall on Wednesday, weighed down by a stronger dollar and signs of easing US-China trade tensions. Spot gold fell 1.3% and slipped below $3,300 an ounce. Despite the decline in the final trading session of the month, gold still posted its fourth consecutive monthly gain, rising nearly 5% in April.

Gold’s losses were limited on the day as the latest data showed the US economy was slowing. The US gross domestic product fell 0.3% in the first quarter of this year, according to the US Commerce Department, as businesses rushed to import goods ahead of the Trump administration’s imposition of tariffs on imports into the US. Economists polled by Reuters had forecast a 0.4% increase compared to the same period last year.

Gold remains confident in its bull market and the latest data suggests an easier path for the Federal Reserve to cut interest rates for the first time this year, which will benefit gold, said independent metals trader Tai Wong. He added that gold could trade sideways for a while after its recent surge to $3,500 an ounce.

World gold prices fall. Photo: Getty Images

Seen as a hedge against political and financial turmoil, gold surged to a record high of $3,500.05 an ounce on April 22 as investors sought shelter from global economic turmoil.

Meanwhile, the US personal consumption expenditures (PCE) price index was unchanged in March after rising 0.4% in February. The core PCE (excluding volatile food and energy) jumped 3.5%.

Traders are now awaiting this week's biggest jobs data for more clarity on the US central bank's future policy path.

With the domestic gold bar price stable and the world gold price listed at Kitco at 3,289 USD/ounce (equivalent to about 103.8 million VND/tael converted according to Vietcombank exchange rate, excluding taxes and fees), the difference between domestic and world gold prices is about 17.5 million VND/tael.

TRAN HO HOAI

*Please visit the Economics section to see related news and articles.