Gold price today June 2, 2025: Domestic and world gold prices in May decreased sharply

Domestic gold price today June 2, 2025

At the closing time of 5:00 p.m. on June 1, 2025, the domestic gold bar selling price was 118.2 million VND/tael. Specifically:

The price of SJC gold bars listed by DOJI Group is at 115.7-118.2 million VND/tael (buy - sell), the price has not changed in both buying and selling directions compared to yesterday but has decreased by 3.6 million VND in buying direction - decreased by 3.1 million VND in selling direction compared to the beginning of May.

At the same time, the price of SJC gold bars was listed by Saigon Jewelry Company Limited - SJC at 115.7-118.2 million VND/tael (buy - sell), the price decrease remained unchanged in both buying and selling directions compared to yesterday. Compared to May 1, 2025, the price decreased by 3.6 million VND in buying direction - decreased by 3.1 million VND in selling direction.

At Mi Hong Jewelry Company, the price of Mi Hong gold at the time of survey was listed at 115.7-117 million VND/tael for buying and selling. Compared to yesterday, the gold price remained unchanged for buying - decreased by 200 thousand VND/tael for selling compared to yesterday. Compared to last week, the price decreased by 3.3 million VND for buying - decreased by 3.5 million VND for selling.

SJC gold price at Bao Tin Minh Chau Company Limited is traded by the enterprise at 115.7-118.2 million VND/tael (buy - sell), the price remains unchanged in both buying and selling directions compared to yesterday and decreased by 2.3 million VND in buying direction - decreased by 2.8 million VND in selling direction compared to the beginning of May.

SJC gold price in Phu Quy is traded by businesses at 115-118.2 million VND/tael (buy - sell), gold price is unchanged in both buying and selling directions compared to yesterday. Gold price decreased by 3.3 million VND in buying direction - decreased by 3.1 million VND in selling direction compared to early May.

Closing session at 5:00 p.m. on June 1, 2025, the price of 9999 Hung Thinh Vuong round gold ring at DOJI was listed at 111-113.5 million VND/tael (buy - sell); the price remained unchanged in both buying and selling directions compared to yesterday; decreased by 3 million VND in both buying and selling directions compared to the beginning of May.

Bao Tin Minh Chau listed the price of gold rings at 113-116 million VND/tael (buy - sell); down 500 thousand VND/tael in both buying and selling compared to yesterday; down 3.3 million VND in buying - down 3.6 million VND in selling compared to early May.

The latest gold price list today, June 2, 2025 is as follows:

World gold price today June 2, 2025 and world gold price fluctuation chart in the past 24 hours

According to Kitco, the world gold price recorded at 5:30 p.m. on June 1, Vietnam time, was 3,291.99 USD/ounce. Today's gold price remained unchanged from yesterday but decreased by 59.4 USD/ounce compared to last week. Converted according to the USD exchange rate at Vietcombank (26,200 VND/USD), the world gold price is about 107.86 million VND/tael (excluding taxes and fees). Thus, the price of SJC gold bars is 10.34 million VND/tael higher than the international gold price.

Domestic gold prices and world gold prices both experienced a sharp decrease in a week, leading to a price gap of more than 10 million VND/tael, equivalent to nearly 8.5%.

Mr. Nguyen Quang Huy, CEO of Finance - Banking at Nguyen Trai University, said that to bring domestic and world prices closer together, it is necessary to allow the expansion of gold import rights in a controlled manner. In addition, developing more domestic gold bar brands under strict supervision, along with the establishment of a transparent electronic gold trading floor.

Expert Tran Duy Phuong said that to reduce the gap between domestic and international gold prices to 1-2% as directed by the Prime Minister, it is necessary to increase supply sharply. Otherwise, it will be difficult to achieve a domestic gold price of less than 100 million VND/tael in the short term.

According to the latest Kitco News weekly gold survey, industry professionals and retail investors are now more evenly matched on the outlook for gold prices after a lackluster week. However, bulls still dominate both groups.

Of the 14 Wall Street experts surveyed, 43% said gold prices would rise, 29% predicted a fall, and the remaining 29% expected gold to trade sideways, suggesting a “wait and see” mentality is taking hold after gold prices showed signs of a slight correction.

Among retail investors, with 2,490 people participating in the online survey, the optimists still hold the majority but only by a narrow margin. Specifically, 56% expect gold prices to increase, 24% think it will decrease, while 20% think prices will remain flat next week.

Rich Checkan, chairman and CEO of Asset Strategies International, said that gold prices are consolidating around $3,300 an ounce and are likely to continue to rise. He said that if the appeals court upholds the tariffs, it will contribute to inflation and create conditions for gold prices to rise.

Adam Button, head of currency strategy at Forexlive, echoed the sentiment. He said the current gold buying sentiment is being fueled by developments related to trade tensions caused by President Trump. Button said Trump is trying to reassert his position by re-escalating trade tensions, and that could push gold prices higher.

However, if the US Supreme Court issues rulings blocking some of the tariffs proposed by the Trump administration, this could be a factor that could dampen gold's bullish momentum in the short term.

Gold Price Forecast

Marc Chandler, CEO of Bannockburn Global Forex, said that gold prices are showing signs of breaking out of the sideways phase and preparing to return to an upward trend. According to him, gold has fluctuated mainly in the price range of last week, from about $3,204 to $3,365 per ounce, showing a state of accumulation.

Barchart.com expert Darin Newsom said that the factors driving gold prices will still be uncertainties and unexpected information from the Trump administration, which often appear on weekends. In a context where the market is constantly dominated by such sudden changes, gold is still the most effective hedge.

Unlike alternative assets like Bitcoin, gold has an intrinsic global value regardless of the currency market. This is why gold continues to attract long-term investment flows, especially during the pre- or post-weekend periods when markets are often volatile due to political statements.

According to the assessment of the expert group at CPM Group, now is the right time for investors to consider buying gold. They predict that the price of gold may increase to 3,385 USD/ounce before June 13. The main reason is that concerns about the economic and political situation in the US as well as globally are gradually returning after a period of lull.

The Trump administration is currently restructuring and showing signs of preparing to implement more drastic policies. This is happening in the context of increasing opposition from many sides such as Republican congressmen, courts, universities, businesses and even foreign leaders. Countries around the world are seeing weaknesses in the US stance, increasing instability and supporting gold prices.

However, not everyone is optimistic. Michael Moor, founder of Moor Analytics, believes that gold prices may fall. He believes that the long-term trend since August 2018 is still up, but may be entering its final stages. Moor predicts that the market is correcting after a strong rally, and prices are currently in a short-term downtrend after failing to overcome the resistance zone around $3,395/ounce.

Sharing a cautious view, Kitco expert Jim Wyckoff said that gold prices are likely to continue to decline slightly next week. He said that technical charts are no longer showing clear positive signals, while the market lacks new supporting information.

Investors should be cautious about the current gold price action as the recent rally may be ahead of fundamentals, said Ryan Oldham, co-manager of FSAGX. He noted that there are two main factors affecting the gold market: inflation and real interest rates, and the trend of some investors moving away from the US dollar.

Despite the short-term volatility, Oldham remains bullish on gold’s long-term prospects. He believes that the increase in money in the financial system and budget deficits will continue to drive gold prices higher. However, gold is a highly volatile asset, often experiencing sharp corrections of 10–15% or more.