Gold price today 5/1/2025: Gold price is expected to increase slightly due to the US economic downturn

Domestic gold price today 5/1/2025

At the time of the survey at 4:30 a.m. on May 1, 2025, the domestic gold price was anchored at a high level of over 121 million VND. The gold market is on holiday from April 30 to May 1, so the price will not change until the end of this week. Specifically:

DOJI Group listed the price of SJC gold bars at 119.3-121.3 million VND/tael (buy - sell), the price remained unchanged in both buying and selling directions compared to yesterday. Compared to the end of last week on April 26, the gold price increased by 300 thousand VND/tael in both buying and selling directions.

At the same time, the price of SJC gold bars was listed by Saigon Jewelry Company Limited - SJC at 119.3-121.3 million VND/tael (buy - sell), the price remained unchanged in both buying and selling directions compared to yesterday, but increased by 300 thousand VND/tael in both buying and selling directions compared to the closing price of last week.

At Mi Hong Jewelry Company, the price of Mi Hong gold at the time of survey was listed at 118-120 million VND/tael for buying and selling. Compared to yesterday, the gold price decreased by 1.5 million VND/tael for buying and 1 million VND/tael for selling. Compared to last week, the gold price decreased by 1 million VND/tael for both buying and selling.

SJC gold price at Bao Tin Minh Chau Company Limited is traded by businesses at 119.3-121.3 million VND/tael (buying - selling, unchanged in both buying and selling directions compared to yesterday. Decreased 300 thousand VND/tael in both buying and selling directions compared to the end of last week.

SJC gold price in Phu Quy is traded by businesses at 118.3-121.3 million VND/tael (buy - sell), gold price is unchanged in both buying and selling directions compared to yesterday. Gold price decreased 200 thousand VND/tael in buying direction - increased 300 thousand VND/tael in selling direction compared to the end of last week.

As of 4:30 a.m. today, the price of 9999 Hung Thinh Vuong round gold rings at DOJI is listed at 114-116.5 million VND/tael (buy - sell); unchanged in both buying and selling directions compared to yesterday; also unchanged in both buying and selling directions compared to the end of last week.

Bao Tin Minh Chau listed the price of gold rings at 116.9-119.9 million VND/tael (buy - sell); down 200 thousand VND/tael in both buying and selling compared to yesterday; up 100 thousand VND/tael in both buying and selling compared to the end of last week.

The latest gold price list today, May 1, 2025 is as follows:

World gold price today 5/1/2025 and world gold price fluctuation chart in the past 24 hours

According to Kitco, the world gold price recorded at 4:30 am today, Vietnam time, was 3,294.1 USD/ounce. Today's gold price decreased by 20.4 USD/ounce compared to yesterday. Converted according to the USD exchange rate at Vietcombank (26,180 VND/USD), the world gold price is about 105.03 million VND/tael (excluding taxes and fees). Thus, the price of SJC gold bars is 16.27 million VND/tael higher than the international gold price.

Global gold prices continued to fall for the second consecutive session due to the rising value of the USD and signs of easing US-China trade tensions. Specifically, spot gold prices fell 0.62%, but still recorded the fourth consecutive month of increase with an increase of 5% in April. US gold futures also fell 1.3%, to 3,289 USD.

According to Ross Norman, an independent analyst, the market is currently very volatile due to competition between trading flows. He commented that it seems that gold is entering a correction phase after a period of strong price increases.

The dollar rose 0.1% against other currencies, making gold more expensive for investors using other currencies. Frank Watson, an analyst at Kinesis Money, said gold prices fell amid a more stable market after the US-led trade tensions showed signs of easing.

However, the fact that gold did not fall too deeply also shows that the financial market is still concerned about the instability in US trade policy and its impact on the global economy.

Although the world gold price is decreasing as of 4:30 this morning (Vietnam time), it may increase again during the day after some US economic data was released below expectations. The US ADP employment report in April showed that only 62,000 new jobs were created, much lower than the forecast of 120,000. In addition, the US GDP in the first quarter of 2025 decreased by 0.3%, contrary to the expectation of a 0.4% increase.

In addition to the weak job growth, the report also showed signs of slowing wage inflation. Specifically, wages for employees who kept their current jobs rose just 4.5% in April compared to the same month last year, slightly lower than in March. Meanwhile, those who switched jobs received an average pay increase of 6.9% compared to 6.7% the previous month.

This is the first time the US economy has recorded negative growth since 2022, and marks a sharp decline compared to the 2.4% growth in the fourth quarter of 2024. The report said the main reason came from increased imports (a factor that reduces GDP) along with cuts in government spending, although it was partly offset by increases in investment, consumer spending and exports.

According to experts, the weak labor market data along with the US economy in the first quarter of 2025 could create pressure for the US Federal Reserve (Fed) to cut interest rates sooner. This situation makes gold still considered an attractive asset despite experiencing a short-term price adjustment.

A slew of important US economic data will be released during the day, including the MBA mortgage applications survey, the ADP jobs report, the labor cost index, the ISM Chicago business activity survey, pending home sales, personal income and spending, and the DOE energy inventory report.

Gold Price Forecast

According to the latest Reuters survey, experts predict that the average gold price will surpass the $3,000/ounce mark for the first time in 2025. The main reasons come from global trade tensions and the decreasing dependence on the US dollar.

The survey of 29 analysts and traders gave an average price forecast of $3,065 an ounce for this year, up sharply from $2,756 an ounce in the survey three months ago. The forecast for 2026 was also revised up from $2,700 an ounce to $3,000 an ounce.

Economists are warning of a possible global recession this year, according to a Reuters poll. This will be an important factor that will continue to support gold prices in the coming time, as investors seek safe havens.

Expert Manoj Kumar Jain from research firm Prithvifinmart said that gold prices will continue to fluctuate strongly this week. The main reason is the fluctuation of the USD exchange rate and the market waiting for important economic data from the US. According to him, the current support zone of gold is around 3,300–3,274 USD/ounce, while the resistance zone fluctuates from 3,358–3,380 USD/ounce.

Technically, the bulls still have the upper hand in the June gold futures market. Their next target is to push prices above the strong resistance at the record high of $3,509.90 per ounce. Meanwhile, the bears are aiming to push prices below the support level of $3,200 per ounce.

The nearest resistance levels are at $3,363.80/ounce and $3,384.10/ounce, while the nearest support levels are at $3,300/ounce and $3,270.80/ounce. The Wyckoff Market Rating Index currently stands at 7.0/10.

The average price of gold this year is still forecast to be high at around $3,250 an ounce, according to the World Bank’s latest commodity outlook. This is 36% higher than last year’s average and represents a significant adjustment from the previous forecast in November, when experts said gold prices would remain flat.

Gold prices are expected to fall slightly to around $3,200 an ounce by 2026, a 1.5% decline. However, in the context of the overall commodity market, gold is still considered the most prominent asset over the next two years.

The World Bank believes that gold will continue to receive strong support from safe-haven demand, especially amid ongoing political and geopolitical uncertainty, along with concerns about global economic volatility. Currently, gold prices are expected to be 155% higher than the average of the period 2015–2019, and if international tensions escalate, gold prices could well exceed current forecasts.