Domestic gold price close to 100 million VND/tael

Gold prices continue to fall after tariff information is announced - Photo: NGOC PHUONG

World gold price forecast at 2,789 USD/ounce in May

At the end of the trading week, the world gold price was at 3,038.8 USD/ounce, down 77.9 USD/ounce compared to the previous session, equivalent to a decrease of 2.44 million VND/tael.

Converted according to the exchange rate listed at the bank, the world gold price is equivalent to 95.1 million VND/tael.

Compared to the peak of 3,167.8 USD/ounce, the world gold price has decreased by 129 USD/ounce (equivalent to 4.03 million VND/tael) in just two days.

Expert Tran Duy Phuong said that there are a series of reasons why the world gold price has dropped sharply in recent days. The first is the tariff factor imposed on countries that has been settled.

Previously, the price of gold had increased continuously for 2 months, from 2,700 USD/ounce to 3,167 USD/ounce when the market thought that the tariff war would cause instability and increase inflation. Since then, the price of gold has been supported to increase very strongly. But now that the tariff factor has been announced, gold has lost its supporting factor.

In addition, countries are currently negotiating to lower tariffs with the US, with many countries proposing to reduce tariffs on US goods and increase purchases from the US. From there, the market predicts that in the coming time, tariffs will be much lower after countries participate in negotiations. And that is a disadvantage for gold.

Gold prices have been soaring in recent times, partly due to the low interest rate environment and geopolitical tensions in the Middle East. However, with interest rate cuts by major central banks such as the UK, Australia, Canada, the ECB, Switzerland and the Fed almost complete, gold prices will lose this support factor in the near future.

Geopolitical tensions in the Middle East and Russia-Ukraine have also cooled down as the parties are intensifying negotiations to end the conflict soon. Large organizations are also stepping up profit-taking as gold prices peak.

Therefore, the world gold price is likely to continue to fall and reach 2,789 USD/ounce next May.

Domestic gold price decreased by 2.1 million VND/tael in just two days

World gold price closed the trading week with a decrease of nearly 78 USD/ounce - Screenshot

Having just evaporated 900,000 VND/tael yesterday, today gold companies continue to reduce the selling price of gold bars by up to 1.2 million VND/tael.

The selling price of SJC gold bars at SJC Company today decreased by another 1.2 million VND/tael, to 100.1 million VND/tael. The buying price is only 97.1 million VND/tael.

Thus, in just two days, the price of SJC gold bars has decreased by 2.1 million VND/tael and is close to the 100 million VND/tael mark.

Notably, the difference between buying and selling gold prices increased to 3 million VND/tael because gold companies "defended" when gold prices fluctuated too strongly. This is a very risky difference for gold buyers at this time.

Meanwhile, the price of 9999 gold rings at SJC Company also decreased by 1.2 million VND/tael, to 100 million VND/tael, the purchase price was 97 million VND/tael.

At PNJ Company, the selling price of SJC gold bars and gold rings both decreased by 1.2 million VND/tael, to 100.1 million VND/tael, but the buying price of gold rings at PNJ Company was higher, at 97.5 million VND/tael, while the buying price of gold bars was only 97.1 million VND/tael.

At Bao Tin Minh Chau Company, the price of 9999 gold rings decreased by 1.1 million VND/tael, to 100.5 million VND/tael (sell) and 97.5 million VND/tael (buy).

Compared to the converted world gold price, the domestic gold price is about 5 million VND/tael higher.

Tuoitre.vn

Source: https://tuoitre.vn/gia-vang-trong-nuoc-ve-sat-100-trieu-dong-luong-20250405144915379.htm