Gold price on April 2, 2025: No change despite world gold price decrease

Illustration photo. Photo: Internet

Specifically, at 9:00 a.m., Bao Tin Minh Chau Company kept the price of gold bars and gold rings at 99.8 - 102.3 million VND/tael (buy - sell), unchanged from the closing price of the previous day.

Phu Nhuan Jewelry Joint Stock Company also listed the price of gold bars and gold rings at 99.4 - 102.1 million VND/tael (buy - sell), with no adjustment compared to yesterday's closing price.

DOJI Gold and Gemstone Group and Saigon Jewelry Company also maintained the price of gold bars at 99.4 - 102.1 million VND/tael (buy - sell), unchanged from the previously listed price.

In the world market, gold prices decreased slightly in the session on April 1 due to the impact of profit-taking activities, but still maintained at a near-record level, as investors sought "safe haven" assets in the context of US President Donald Trump preparing to announce a plan to impose reciprocal tariffs.

At 0:46 a.m. on April 2 (Vietnam time), the spot gold price decreased by 0.3% to 3,113.43 USD/ounce, after reaching a record high of 3,148.88 USD/ounce at the beginning of the session. At the same time, the gold futures price in the US closed down slightly by 0.1% to 3,146 USD/ounce.

"I don't see any major changes in the fundamentals. This is still a favorable period for gold," said Peter Grant, vice president and senior metals strategist at Zaner Metals.

Markets are now paying close attention to details of President Trump’s tariff plan, which is expected to be announced on April 2. The Washington Post reported that the White House is drafting a plan to impose tariffs of about 20% on most imports into the US.

Gold, a hedge against economic and political uncertainty, capped off its strongest first quarter since 1986 on March 31, surpassing $3,100 an ounce for the first time, marking one of the most remarkable price increases in the precious metal's history.

On March 31, Goldman Sachs raised the probability of a U.S. recession to 35 percent from 20 percent, and predicted the Federal Reserve would continue to cut interest rates. A low-interest-rate environment typically favors gold, an asset that does not directly yield income.

"We continue to see gold prices trending higher," said Ryan McIntyre, senior portfolio manager at Sprott Asset Management, pointing to increased demand from gold ETFs and central bank buying.

Cao Thong (t/h)

Source: https://doanhnghiepvn.vn/kinh-te/gia-vang-ngay-2-4-2025-khong-bien-dong-du-gia-vang-the-gioi-giam/20250402093836206