Gold price today (May 3): the price of gold rings hits highly falls

Gold price today (May 3): while the price of gold of most brands has remained stable, the price of gold rings of the PNJ brand decreased on May 2.

National gold prize today

Gold price Stable domestic room. Currently, gold brands are bought at 119.3 million VND/Tael and are sold at 121.3 million VND/Tael. The gold of Phu Quy SJC is currently purchased at a lower price of a million VND from that of other brands. Bao Tinh Minh Chau Gold is bought and sells for 1.2 million VNDs and 300,000 less than other brands.

Likewise, most of the gold rings brands have also maintained the purchase and sales prices of yesterday morning. More specifically, the price of SJC 9999 gold rings is anchored at 114 million VND/TAEL for purchase and 116.5 million VND/TAEL for sale.

The doji of the markets of Hanoi and Ho Chi Minh Ville said that the price of gold rings was 114 million VND/Tael for purchase and 116.5 million VND/Tael for sale.

Meanwhile, Bao Tin Minh Chau has adjusted the upcoming purchase and sales prices of 100,000 VND at 116.4 million VND/Tael for the purchase and 119.7 million VND/Tael for sale, respectively.

The price of the gold ring of the PNJ brand is indicated at 112 million VND/TAEL for purchase and 116 million VND/TAEL for sale, down 2 million VND for purchase and 1 million VND for sale.

Phu Quy SJC buys gold rings at 114.5 million VND/Tael and sells them at 117.5 million VND/Tael, an increase of 200,000 vnd of purchase and sale prices.

The prices of national gold ingots were updated at 5:30 am on May 3 as follows:

GOLD GOLD PRIZE today

The world prices of gold have increased, the cash prices of gold increasing by 1.3 USD to reach 3,241.6 USD/OCE. Gold -term contracts were released for the last time at $ 3,243.3 OCE, up $ 21.1 compared to yesterday morning.

Gold prices, however, have increased slightly compared to the summits on Friday, the latest employment report that has shown a better than expected labor market. At the same time, the signs of appeasement of trade tensions between the United States and China also reduced the attraction of this refuge metal, which led gold to record its second consecutive weekly decrease after a series of “enormous” price increases.

Consequently, the published data showed that 177,000 jobs were created last month, 44,000 jobs more than economists’ forecasts. This figure is nevertheless in sharp decline compared to the 228,000 recorded in March. The unemployment rate was 4.2%in accordance with expectations. However, many opinions say that this report relates to April data and that it is still too early for the labor market to show the impact of the pricing policy of US President Donald Trump.

Ole Hansen, head of the raw materials strategy at Saxo Bank, said that the risk appetite has generally improved this week in the hope of improving trade relations between the United States and China. Hansen added that the current gold price is just below $ 100 peak, which could indicate a new wave of purchases from “fundraising” investors who think that gold prices will further increase in the future.

Consequently, the United States and China have both expressed their good desire to negotiate on customs tariffs. The signs of possible commercial negotiations between the United States and China stimulated the appetite for the risk and reduces the attraction of assets refuges such as gold.

According to Fawad Razaqzada, market analyst at City Index and Forex.com, the demand for refuge values ​​is weakening and prices could turn around and lower more, with the possibility of breaking this week’s support near the $ 3,200 area.

In the meantime, in a recent announcement, UBS has stressed: “We remain optimistic about gold as a political coverage, because we are planning additional volatility, but gold will continue to be highly sustained in the purchases of central banks, investment demand and dedollarization. »»

Investors who are currently under allocated to gold could consider the recent drop in prices as an opportunity to increase their assets or readjust their portfolios to increase their long-term resilience, the bank said.

With the price of the Stable National Golden Broker and the world price of gold listed at Kitco at 3,241.6 USD/OCE (equivalent to around 102.3 million VND/Tael converted according to the Vietcombank exchange rate, excluding taxes and fresh), the difference between the national and global prices of gold is around 19 million VND/TAEL.