This morning, Saigon Jewelry Company (SJC) listed gold bar prices at 162 - 165 million dong per tael, a decrease of 1,3 million dong compared to yesterday. This pushed gold to its lowest level in nearly four months. Other brands made similar adjustments.

Plain gold rings at SJC also decreased by 1,3 million dong, now ranging from 161,5 - 164,5 million dong. PNJ traded this item 200,000 dong higher than SJC, around 161,7 - 164,7 million dong.

DOJI and Bao Tin Minh Chau bought and sold plain round rings at 162 - 165 million dong.

Domestic gold prices followed the international downward trend. The world spot gold price closed on 4/5, falling over 90 USD to 4,521 USD per ounce. By 10h this morning, the precious metal recovered by more than 18 USD, reaching 4,540 USD.

The gold market cooled as the US dollar strengthened due to Middle East tensions, making the precious metal more expensive for non-US buyers. Meanwhile, energy prices rose by over 5% due to the conflict, accelerating inflation and strengthening the view that central banks are unlikely to cut interest rates.

While gold traditionally hedges against inflation and geopolitical instability, it becomes less attractive in high-interest rate environments as it does not offer fixed interest.

Bart Melek, a commodity strategist at TD Securities, stated that gold's support levels are currently around 4.200 USD. "Many factors continue to positively influence gold in the latter part of the year; however, the potential for rising interest rates could lead investors to continue selling off in the short term", Bart Melek noted.

Gold bars at SJC's headquarters in Ban Co Ward, TP HCM, 3/2025. *Photo: Quynh Tran*

Converted at Vietcombank's exchange rate, world gold is equivalent to 145 million dong per tael. This means each tael of domestic gold has a premium of about 20 million dong compared to world prices, widening from the 18 million dong at the end of April.

Silver bar and ingot prices also decreased by 0,6%. Phu Quy listed this metal at 2,77 - 2,85 million dong per tael, equivalent to 73,7 - 76,1 million dong per kg. Ancarat and Sacombank - SBJ traded at similar price levels.

Trong Hieu