Gold price today (April 5): "Plummeting" without brakes - Lang Son Newspaper and Radio and Television Station

Gold price today (April 5): World gold prices lost about 3% as investors continued to sell off gold to offset losses from other assets, as the escalating trade war raised concerns about a global economic recession.

End of April 4, The price of domestic gold bars has turned to a sharp decline. Currently, gold brands are buying at 98.8 million VND/tael and selling at 101.3 million VND/tael. Phu Quy SJC gold is buying at a price 200,000 VND lower than other brands.

Similarly, the price of gold rings of various brands was also adjusted down sharply. Specifically, the price of SJC 9999 gold rings was adjusted down by 700,000 VND for the buying price and 800,000 VND for the selling price, down to 98.7 million VND/tael and 101.4 million VND/tael, respectively.

Domestic gold prices drop sharply. Photo: dantri.com.vn

DOJI in Hanoi and Ho Chi Minh City markets adjusted down 200,000 VND for buying and 900,000 VND for selling, down to 98.5 million VND/tael and 101.3 million VND/tael, respectively.

PNJ brand gold ring price is listed at 98.7 million VND/tael and 101.3 million VND/tael, down 800,000 VND for buying and 900,000 VND for selling.

Bao Tin Minh Chau listed the price of plain round gold rings at 99 million VND/tael for buying and 101.6 million VND/tael for selling, down 100,000 VND for buying and 700,000 VND for selling.

Phu Quy SJC is buying gold rings at 98.8 million VND/tael and selling at 101.6 million VND/tael, up 200,000 VND and 700,000 VND respectively.

Domestic gold bar prices updated at 5:30 a.m. April 5 as follows:

Yellow	Area	Early morning 4-4				Early morning 5-4			Difference
		Buy	Sell			Buy	Sell		Buy	Sell
		Unit of measure: Million VND/tael							Unit of measure: Thousand dong/tael
DOJI	Hanoi	99.5		102.2		98.8		101.3	-700	-900
	Ho Chi Minh City	99.5		102.2		98.8		101.3	-700	-900
SJC	Ho Chi Minh City	99.5		102.2		98.8		101.3	-700	-900
	Hanoi	99.5		102.2		98.8		101.3	-700	-900
	Danang	99.5		102.2		98.8		101.3	-700	-900
PNJ	Ho Chi Minh City	99.5		102.2		98.8		101.3	-700	-900
	Hanoi	99.5		102.2	98.8			101.3	-700	-900
Bao Tin Minh Chau	Nationwide	99		102.2	98.8			101.3	-200	-900
Phu Quy SJC	Nationwide	99		102.2	98.6			101.3	-400	-900

World gold price today

World gold prices “plummeted”, with spot gold prices falling by 76.9 USD to 3,038.8 USD/ounce. Gold futures last traded at 3,035.4 USD/ounce, down 86.3 USD compared to early this morning.

Gold prices fell more than 3% on Friday, erasing gains from earlier in the week, as investors continued to sell bullion to offset losses in other asset classes, as the escalating trade war raised concerns about a global recession.

Gold is behaving in line with historical trends, according to Standard Chartered analyst Suki Cooper, adding that it is not unusual for gold to sell off after a risk event given its role in an investment portfolio.

Global stocks fell for a second straight day, with the S&P 500 and Nasdaq Composite indexes each down about 5%, after China's finance ministry said it would impose an additional 34% tariff on all U.S. goods starting April 10. The move came a day after President Trump said he would impose a 10% base tariff on all imports into the U.S. and raise tariffs on some of the country's largest trading partners.

Additionally, the recovery of the US dollar during the day also put pressure on gold. The rising US Dollar Index made bullion priced in the greenback more expensive for foreign buyers.

Despite the sharp drop, gold's gain this year is still around 15.3%, thanks to strong central bank buying and the metal's general appeal as a hedge against economic and geopolitical uncertainties.

World gold prices drop sharply. Photo: Getty Images

Despite the volatility, “gold remains a safe haven for many investors… I think the downside is likely to be limited from here and I expect gold to hold around $3,080 an ounce for now,” said City Index senior analyst Matt Simpson.

Meanwhile, US Federal Reserve Chairman Jerome Powell said that President Donald Trump's new tariffs were "larger than expected" and that new tax policies could have stronger-than-expected impacts on the US economy, increasing inflation and slowing economic growth.

Traders also weighed in on Friday’s better-than-expected March jobs data. “I think the nonfarm payrolls data will help the Fed continue to hold off on cutting rates,” said Alex Ebkarian, chief executive officer of Allegiance Gold.

With the domestic gold bar price falling sharply and the world gold price listed at Kitco at 3,038.8 USD/ounce (equivalent to about 95.1 million VND/tael converted according to Vietcombank exchange rate, excluding taxes and fees), the difference between domestic and world gold prices is about 6.2 million VND/tael.

Source: https://baolangson.vn/gia-vang-hom-nay-5-4-lao-doc-khong-phanh-5043188.html