World
gold prices ended the week largely flat, with only a small decline from the prior session. Domestic gold prices remained stable as major firms did not adjust their price boards during the holiday. Internationally, gold finished the week at 4,624 USD per ounce, down 0.17% from the close on Thursday (April 30). Earlier, gold had risen more than 1.7% in the April 30 session after hitting a one-month low. Gold closed Friday's session with positive momentum, edging higher toward the close. Positive news related to negotiations to end the war with Iran helped gold recover after early losses, according to Chris Gaffney, EverBank's head of global markets. Ending the Iran conflict could prompt the Fed to begin cutting rates again, which would weaken the U.S. dollar and be favorable for gold, he added. Higher oil prices could keep central banks cautious, keeping rates higher for longer and pressuring non-yielding assets like gold as investors seek alternatives such as Treasury yields. The Federal Reserve (Fed) held rates this week and signaled a hawkish stance, causing the market to pare back expectations for rate cuts this year. Gold has fallen since the Iran conflict began in late February, despite gold's traditional role as a hedge against geopolitical risk. Additionally, gold has benefited from weaker U.S. manufacturing data and a softer Treasury yield environment. The April ISM manufacturing report showed weaker-than-expected results but remained in expansion; the S&P Global PMI for manufacturing also indicated modest expansion. Overall, these data point to slower growth in U.S. manufacturing, which has restrained Treasury yields and supported gold and silver. Domestically, in early trading on May 2, domestic gold prices remained stable during the holiday, as most major firms had not yet adjusted their listed prices. Specifically, bullion bars at SJC, PNJ, DOJI, Bao Tin Minh Chau and Bao Tin Manh Hai were quoted at 163–166 million VND per tael (buy–sell). In the jewelry segment, SJC buys at 162.5–165.5 million VND per tael; PNJ at 162.6–165.6; DOJI, Bao Tin Minh Chau, and Bao Tin Manh Hai around 163–166, with Bao Tin Manh Hai slightly lower on the ask at 165.9 million VND per tael.
