Gold price on May 7, 2025: Domestic and world gold prices slightly decreased, waiting for interest rates from the Fed

Domestic gold price today 5/7/2025

At the time of survey at 4:30 p.m. on May 7, 2025, domestic gold prices decreased slightly or remained unchanged. Specifically:

The price of SJC gold bars listed by DOJI Group is at 120.2-122.2 million VND/tael (buy - sell), the price remains unchanged in both buying and selling directions compared to yesterday.

At the same time, the price of SJC gold bars was listed by Saigon Jewelry Company Limited - SJC at 120.2-122.2 million VND/tael (buy - sell), the price remained unchanged in both buying and selling directions compared to yesterday.

At Mi Hong Jewelry Company, the price of Mi Hong gold at the time of survey was listed at 120.2-121.7 million VND/tael for buying and selling. Compared to yesterday, the gold price remained unchanged for buying - down 100 thousand VND/tael for selling.

SJC gold price at Bao Tin Minh Chau Company Limited is traded by businesses at 120.2-122.2 million VND/tael (buy - sell), the price remains unchanged in both buying and selling directions compared to yesterday.

SJC gold price at Phu Quy is traded by businesses at 118.7-121.7 million VND/tael (buy - sell), gold price decreased 1.1 million VND/tael in both buying and selling directions compared to yesterday.

As of 4:30 p.m. today, the price of 9999 Hung Thinh Vuong round gold rings at DOJI is listed at 115.5-118 million VND/tael (buy - sell); unchanged in both buying and selling directions compared to yesterday.

Bao Tin Minh Chau listed the price of gold rings at 117.5-120.5 million VND/tael (buy - sell); unchanged in both buying and selling directions compared to yesterday.

The latest gold price list today, May 7, 2025 is as follows:

World gold price today 5/7/2025 and world gold price fluctuation chart in the past 24 hours

According to Kitco, the world gold price recorded at 4:30 p.m. today, Vietnam time, was 3,383.43 USD/ounce. Today's gold price increased by 16.59 USD/ounce compared to yesterday. Converted according to the USD exchange rate at Vietcombank (26,140 VND/USD), the world gold price is about 107.78 million VND/tael (excluding taxes and fees). Thus, the price of SJC gold bars is 14.42 million VND/tael higher than the international gold price.

Gold prices fell slightly on Friday as hopes for a trade deal between the US and China reduced investors’ appetite for safe-haven assets such as gold ahead of the US Federal Reserve’s interest rate decision later in the day.

Specifically, spot gold prices fell from the morning session high of $3,431.43 per ounce. US gold futures also fell 0.8% to $3,394.9.

News of a high-level meeting between US and Chinese officials this week has added to the optimism in the market, which, if confirmed, could improve investor sentiment, said Zain Vawda, an analyst at MarketPulse by OANDA.

US Treasury Secretary Scott Bessent and top trade negotiator Jamieson Greer are scheduled to meet with China's top economic official, He Lifeng, in Switzerland over the weekend to discuss tariffs.

Last month, the US and China imposed retaliatory tariffs on each other, escalating trade tensions and raising fears of a global recession, prompting many investors to rush to gold as a safe haven.

The market is now focused on the Fed's policy announcement at 6 p.m. today. The US central bank is expected to keep interest rates unchanged, but investors will be looking for clues about the possibility of future rate cuts. According to the CME FedWatch tool, the market is pricing in just a 30% chance of a rate cut in June.

On the geopolitical front, India and Pakistan resumed their military conflict on Wednesday, with Pakistan claiming to have shot down five Indian fighter jets. It was the most serious clash between the nuclear-armed nations in more than two decades. If tensions escalate into a wider conflict, demand for gold as a safe-haven asset would surge, pushing prices even higher.

Besides gold, spot silver price decreased 0.8% to 32.96 USD/ounce, platinum decreased slightly 0.2% to 983.06 USD, while palladium remained unchanged at 974.43 USD.