Editor’s Note
This article reports that domestic gold prices remained unchanged on June 1, 2025, due to a temporary trading halt by businesses.
On June 1, 2025, domestic gold prices remained unchanged from yesterday. This is because gold and jewelry businesses temporarily halted trading on Sunday, causing gold prices to remain the same as the previous trading day.
Hanoi: SJC gold is trading at a buying price of 115.7 million VND per tael and a selling price of 118.2 million VND per tael. This price is unchanged from yesterday.
Doji Group: In Hanoi and Ho Chi Minh City, Doji gold prices remain unchanged at a buying price of 115.7 million VND/tael and a selling price of 118.2 million VND/tael.
Mi Hong Company: Mi Hong’s gold price remains unchanged from before at a buying price of 115.7 million VND per tael and a selling price of 117.5 million VND per tael.
PNJ: In Hanoi and Ho Chi Minh City, PNJ gold prices remained unchanged at a buying price of 110.5 million dong per tael and a selling price of 113.6 million dong per tael.
Bao Tin Minh Chau: The SJC brand gold price for this brand is trading unchanged at a buying price of 115.7 million VND per tael and a selling price of 118.2 million VND per tael.
With domestic gold prices stabilizing, the gold market was relatively quiet over the weekend. This is a common phenomenon during holiday periods when gold trading companies temporarily suspend price updates.
Next week’s gold prices are likely to be influenced by global economic factors such as interest rate fluctuations, the US dollar exchange rate, and demand for gold as a safe-haven asset. Therefore, investors need to closely monitor new trends to make appropriate investment decisions.
As of 5:00 PM (Vietnam time) on June 1, 2025, the spot gold price recorded by Kitco was $3,291.99 per ounce. Applying the free market exchange rate (26,200 VND/USD), the world gold price corresponds to approximately 104.16 million VND per tael (excluding taxes and fees). Compared to the domestic SJC gold bar price on the same day (115.7 – 118.2 million VND per tael), the current SJC gold price is about 14.04 million VND higher than the international gold price.
On May 30, gold prices fell slightly due to the strength of the US dollar. This situation has made investors more cautious, influenced by sentiment as they await the release of key US inflation-related indicators that could impact the Federal Reserve’s monetary policy. According to surveys, spot gold prices fell about 0.6% to $3,295.99 per ounce. Gold prices have fallen a total of 1.8% this week.
US gold futures were no exception, falling 0.6% to $3,294.20. As the dollar rose 0.2% against other currencies, gold became more expensive for overseas buyers. Carsten Menke, an analyst at Julius Baer, mentioned this morning that a slight rise in the dollar could put downward pressure on gold prices.
The PCE data, which the Fed considers a key inflation indicator, is scheduled to be released at 12:30 GMT. Economists forecast that inflation in April may have fallen slightly to 2.2% from 2.3% in March.
In addition to gold, silver prices also fell 0.6% to $33.16 per ounce. Platinum prices fell 0.8% to $1,073.80, and palladium fell 0.4% to $969.79.
Gold prices on June 2, 2025, are expected to continue to be influenced by several important economic and political factors. Inflation is a key factor affecting gold prices. When inflation rises, gold is often considered a “safe haven.” Although inflation has fallen from its peak in June 2022, concerns about the possibility of rising prices for goods and services still exist. For this reason, many investors are turning to gold to preserve asset value.
Central bank decisions also play an important role in gold price formation. If central banks diversify their foreign exchange reserve portfolios from the US dollar to other currencies, demand for gold could increase. This trend has been ongoing for years and is independent of current political factors. If central banks continue to buy gold, this could support gold prices on June 2, 2025, in the short term.
Stock market volatility can also affect gold prices. When the stock market shows signs of instability, investors often turn to gold to mitigate risk. Uncertainties in trade policy and geopolitical conflicts such as the situation in Ukraine can also affect investor sentiment and cause gold price volatility.
Although gold prices may show volatility in the near future, investor confidence in gold remains very high. The rise of more than 60% since early 2024 shows how attractive gold is as an investment for investors. However, experts also warn that short-term adjustments may occur. These declines should not be taken lightly but should be seen as an opportunity to buy at better prices.
Overall, gold prices on June 2, 2025, are expected to be influenced by various factors. Investors need to closely monitor changes in economic and political situations to make informed decisions. Gold is an effective means of portfolio diversification, and holding gold at appropriate levels can help mitigate risk in volatile markets.
