Gold prices in Vietnam little changed in afternoon trading as Bao Tin Minh Chau and Bao Tin Manh Hai raise gold ring prices

As of 16:45 on Apr 7, domestic gold prices were broadly stable compared with the morning session, with bullion gold maintaining its price level, while ring gold saw modest adjustments at several brands. Specifically, bullion gold at SJC, PNJ, DOJI, Bao Tin Minh Chau and Bao Tin Manh Hai remained quoted at 169.5–172.5 million VND per tael (buy – sell), unchanged from the midday session. In the ring-gold segment, SJC, PNJ and DOJI kept their prices from the late-morning session. Meanwhile Bao Tin Minh Chau and Bao Tin Manh Hai adjusted up by 0.5 million VND per tael, to 168.3–171.3 million VND per tael. Compared with the end of the previous session, bullion gold at SJC, PNJ, DOJI, Bao Tin Minh Chau and Bao Tin Manh Hai all fell by 0.6 million VND per tael in both directions versus the previous session. In the ring-gold segment, SJC fell by 0.6 million per tael while PNJ remained unchanged. DOJI declined by 0.6–0.7 million per tael. Conversely, Bao Tin Minh Chau and Bao Tin Manh Hai rose slightly by 0.2 million per tael. As of 11:20 on Apr 7, domestic gold prices broadly declined compared with the prior close, with bullion gold retreating by 0.6 million per tael at major brands, while ring gold continued to adjust with differential declines. Specifically, bullion gold at SJC, PNJ, DOJI and Bao Tin Minh Chau were quoted at 169.5–172.5 million per tael (buy – sell), down 0.6 million per tael on both sides versus the previous session. In the ring segment, SJC and PNJ were quoted at 169–172 million per tael, with SJC down 0.6 million per tael, while PNJ kept the buy price but down 0.6 million per tael on the selling side. DOJI quoted 169.3–172.4 million per tael, down 0.6–0.7. Bao Tin Minh Chau quoted the lowest in the market at 167.8–170.8 million per tael, down 0.3. As of the morning trading session on Apr 7, gold prices had not changed significantly compared with the Apr 6 close. Specifically, bullion at SJC, PNJ, DOJI, Bao Tin Minh Chau and Bao Tin Manh Hai were quoted at 170.1–173.1 million per tael (buy – sell), indicating the price level remained stable and there was no differentiation among brands. In the ring segment, SJC quoted 169.6–172.6; PNJ 169–172; DOJI 170–173; Bao Tin Minh Chau and Bao Tin Manh Hai remained lower, 168.1–171.1. On the international market, world gold price as of 6:45 am was $4,655 per ounce, up 0.16% from the previous close. Gold prices rebounded after US ISM Services PMI fell to 54 in March due to price volatility from Iran raising concerns about a potential economic slowdown. According to ISM’s latest data, the US services sector contracted more than expected in the previous month due to rising energy prices impacting the supply chain. Last Friday, ISM announced that their Services Purchasing Managers Index registered 54 in March, down from 56.1 in February. The data was worse than economists’ expectations, who projected 55. Earlier, gold prices declined in Monday’s session after data showed the US labor market continued to grow positively in the previous month. The nonfarm payrolls rose by 178,000 in March, far above the forecast of about 65,000. Growth was led by healthcare, construction, transportation and warehousing, while federal government employment continued to decline. The unemployment rate also fell to 4.3% from 4.4%, signaling that the labor market remained stable. Many experts say a solid labor market would give the Fed room to maintain a neutral monetary policy stance or tighten longer to control inflation. This reduces gold’s appeal – an asset that yields no income. Additionally, gold faced pressure from the complex geopolitical context. The Iran conflict disrupted global supply chains, especially in energy, pushing oil above $100 a barrel and increasing inflation risk. In this context, many central banks tend to delay policy rate cuts.