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Domestic gold prices on the afternoon of April 7 largely held steady versus the midday session, with only a few brands posting slight increases in the ring gold segment.
As of 16:45, bullion gold at SJC, PNJ, DOJI, Bao Tin Minh Chau and Bao Tin Mạnh Hai was quoted at 169.5–172.5 million VND per tael (buy-in – sell), unchanged from the midday session.
In the ring gold segment, SJC, PNJ and DOJI kept prices unchanged from late morning. Bao Tin Minh Chau and Bao Tin Mạnh Hai increased by 0.5 million VND per tael, to 168.3–171.3 million VND per tael.
Versus the close of the previous session, bullion prices at SJC, PNJ, DOJI, Bao Tin Minh Chau and Bao Tin Mạnh Hai were down by 0.6 million VND per tael on both the buy and sell sides.
In the ring segment, SJC fell by 0.6 million VND per tael. PNJ was unchanged on the buy side but fell by 0.6 million VND on the sell side. DOJI declined by 0.6–0.7 million VND per tael. By contrast, Bao Tin Minh Chau and Bao Tin Mạnh Hai rose slightly by 0.2 million VND per tael.
At 11:20 a.m., domestic gold prices were all down from the previous session’s close. Bullion gold at major brands slipped by 0.6 million VND per tael on both sides, while ring gold saw mixed adjustments.
Specifically, bullion gold at SJC, PNJ, DOJI and Bao Tin Minh Chau was quoted at 169.5–172.5 million VND per tael (buy-in – sell), down 0.6 million VND on both sides from the previous session.
In the ring segment, SJC and PNJ were quoted at 169–172 million VND per tael. SJC was down 0.6 million VND per tael, while PNJ kept the buy price but fell 0.6 million VND on the sell side. DOJI was quoted at 169.3–172.4 million VND per tael, down 0.6–0.7 million VND. Bao Tin Minh Chau and Bao Tin Mạnh Hai were quoted at 167.8–170.8 million VND per tael, down 0.3 million VND.
On the international market, world gold was quoted at 4,655 USD per ounce as of 6:45 a.m., up 0.16% from the previous close.
Gold rebounded after the US ISM Services PMI fell to 54 in March, reflecting price volatility and concerns about a potential economic slowdown tied to the Iran-related situation.
ISM reported the Services Purchasing Managers Index at 54 in March, down from 56.1 in February, and below economists’ expectations of 55. The services sector contracted more than expected, with concerns that high energy prices could affect supply chains.
Earlier on April 6, gold prices fell after US labor market data showed continued robust growth. Nonfarm payrolls rose by 178,000 in March versus an expected increase of about 65,000. The unemployment rate fell to 4.3% from 4.4%, contrary to expectations for no change.
Market commentary cited that a strong labor market can give the Federal Reserve room to maintain a neutral or tighter monetary stance to control inflation, which can reduce the appeal of gold, an asset that does not pay interest.
Geopolitical tensions were also highlighted: the Iran conflict disrupted global supply chains, particularly for energy, pushing oil above 100 USD per barrel and increasing inflation risk. In this environment, central banks may delay looser monetary policy.
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