On April 5, 2025, the global gold market experienced notable fluctuations, reflecting a complex interplay of economic indicators and geopolitical tensions. At 4:30 AM Vietnam time, the spot gold price was recorded at $3,047.90 per ounce, marking a decrease of $66.80 (equivalent to 2.14%) compared to the previous session's close. This decline can largely be attributed to investors taking profits after gold reached a record high of $3,168 per ounce on April 4, 2025.
In the United States, the economic landscape painted a mixed picture. According to the U.S. Bureau of Labor Statistics, the economy added 228,000 jobs in March, significantly exceeding the forecast of 137,000 jobs. However, the unemployment rate saw a slight increase to 4.2%, up from 4.1% the previous month. This combination of robust job creation and rising unemployment created uncertainty about the overall health of the economy, which in turn strengthened the U.S. dollar and applied downward pressure on gold prices.
Compounding these economic factors are rising trade tensions between the U.S. and China. China announced a 34% tariff on U.S. goods set to take effect on April 10, adding to the instability in the global financial markets. In this environment, gold is still perceived as a safe-haven asset, though economic pressures may hinder its ability to sustain upward momentum.
In the domestic market, gold prices have also seen significant adjustments. At 4:30 AM on April 5, SJC gold bars were listed at 98.80 - 101.30 million VND per tael (buy-sell), representing a decrease of 700,000 VND per tael on the buying side and 900,000 VND per tael on the selling side compared to the previous day. The specifics of the domestic gold prices are as follows:
- SJC: Buying price: 98.80 million VND/tael, Selling price: 101.30 million VND/tael, Decrease: 700,000 VND (buy), 900,000 VND (sell)
- DOJI: Buying price: 98.80 million VND/tael, Selling price: 101.30 million VND/tael, Decrease: 700,000 VND (buy), 900,000 VND (sell)
- Bao Tin Minh Chau: Buying price: 98.80 million VND/tael, Selling price: 101.30 million VND/tael, Decrease: 200,000 VND (buy), 900,000 VND (sell)
- Phu Quy: Buying price: 98.60 million VND/tael, Selling price: 101.30 million VND/tael, Decrease: 400,000 VND (buy), 900,000 VND (sell)
Experts suggest that gold prices are currently under pressure from two main factors: the strong U.S. employment data and escalating trade tensions. Although gold is typically viewed as a safe-haven asset, many investors are opting to take profits, leading to a price decline. Looking ahead, many analysts predict that if the economic situation remains stable and monetary policies do not change, gold may struggle to maintain its upward trajectory. However, should any significant political or economic instability arise, gold could once again attract investor interest.
Several key factors will influence gold prices in the near future:
- Economic Data: Updates on employment and economic growth will significantly impact gold prices.
- Trade Tensions: Tariff measures between the U.S. and China could increase volatility in the gold market.
- Fed Policies: If the Federal Reserve decides to cut interest rates, this could create positive momentum for gold prices.
As of April 5, 2025, the domestic gold market reflected a sharp and uniform price decrease across most types of gold surveyed, including SJC gold bars, plain gold rings, and 24K and 18K gold jewelry. The common decrease among major gold trading systems for SJC gold bars and plain gold rings ranged from 1.4 million VND to 2 million VND per tael on both the buying and selling sides.
By noon on April 5, the price of SJC gold bars continued to decline, with the Saigon Jewelry Company (SJC) listing the buying price at 97.1 million VND per tael and the selling price at 100.1 million VND per tael. Compared to the previous day's afternoon session, SJC gold bars saw a drop of 1.9 million VND per tael on the buying side and 1.4 million VND per tael on the selling side. Other trading systems, such as DOJI and Phu Quy, recorded similar decreases:
- DOJI: Buying price: 97.1 million VND/tael, Selling price: 100.1 million VND/tael
- Phu Quy: Buying price: 97.1 million VND/tael, Selling price: 100.1 million VND/tael
- PNJ: Buying price: 97.1 million VND/tael, Selling price: 100.1 million VND/tael
- Bao Tin Minh Chau: Buying price: 97.2 million VND/tael, Selling price: 100.1 million VND/tael
- Mi Hong: Buying price: 99.3 million VND/tael, Selling price: 100.8 million VND/tael
- Eximbank: Buying price: 99.5 million VND/tael, Selling price: 101.3 million VND/tael
In summary, the gold market on April 5, 2025, is characterized by significant price declines across various gold types, driven by economic data and geopolitical tensions. While gold is traditionally viewed as a safe haven, the current economic climate has led many investors to take profits, resulting in a notable decrease in prices. Investors are advised to closely monitor economic and political developments to make informed decisions.
