Gold prices today May 3, 2024 on the international market continue to decrease due to investors’ market exploration psychology. Weak demand pulled gold prices below 2,300 USD/ounce.
Domestic gold price
Closing the session on May 2, the price of 9999 gold bars at SJC was 82.9 million VND/tael (buying) and 85.1 million VND/tael (selling). SJC lists gold ring prices at 73.8-75.5 million VND/tael (buy – sell).
Doji Hanoi listed gold bars at 82.6 million VND/tael (buy) and 84.9 million VND/tael (sell). Ho Chi Minh City Doji bought SJC gold bars at 82.8 million VND/tael, sold at 85 million VND/tael.
Bao Tin Minh Chau listed the price of Golden Dragon gold bars at 73.58-75.18 million VND/tael (buy – sell).
International gold price
Gold price on Kitco at 9:00 p.m. (May 2, Vietnam time) was trading at 2,291 USD/ounce, down 1.42% compared to the beginning of the session. Gold futures price for delivery in June 2024 on the Comex New York floor is trading at 2,309.3 USD/ounce.
Weak demand, gold price fell below 2,300 USD/ounce. Photo: Kitco.
At the beginning of the trading session on May 2 (US time), world gold prices decreased due to investors’ psychology of market exploration, causing demand to become weaker, pulling gold prices back down to around 2,300 USD/ ounce.
World gold has dropped 5% from the record level of 2,431.29 USD/ounce set on April 12 in the context of tensions in the Middle East cooling down and expectations of the US cutting interest rates early this year are growing. fading.
However, according to EverBank’s President of World Markets Chris Gaffney, instability in the global economy, geopolitical tensions as well as developments related to this year’s elections are still important factors. beneficial for gold prices.
Similarly, Abrdn Chief Strategy Officer Robert Minter said that as long as geopolitical tensions continue and economic policies continue to cause instability, gold will continue to serve as a foundation for growth. stable.
Robert Minter added that geopolitical instability not only boosts safe-haven demand for gold but also drives investors away from the USD.
Gold price forecast
According to analysts, in the short term, the fact that the US Federal Reserve (Fed) has not lowered interest rates will increase the value of the USD, thereby causing gold to more or less suffer certain pressures.
However, in the medium and long term, gold is forecast to increase in an environment of high inflation and slow economic growth. Moreover, the United States cannot avoid the scenario of entering a period of loosening monetary policy by lowering interest rates. A weakening USD will push gold prices up.
Many forecasts say that gold price will reach 2,500 USD/ounce by the end of the year and will increase sharply in the following years.
Gold price today, May 3, 2024, decreased, losing the mark of 2,300 USD/ounce
Insights from Warren Buffett: Apple, Cash, Insurance, AI, and More at Berkshire Hathaway’s Annual Meeting
Berkshire Hathaway’s Strategic Shift
Amidst the annual gathering in Omaha, Berkshire Hathaway investors witnessed a shift in strategy as Warren Buffett emphasized caution and risk aversion. The absence of Charlie Munger, coupled with Berkshire’s focus on cash reserves, marked a departure from the usual tone of the meeting.
Key Takeaways from Berkshire’s Meeting
One of the significant moves was Berkshire’s decision to reduce its stake in Apple by approximately 13% during the first quarter. This decision, driven by valuation concerns and market conditions, reflects Buffett’s emphasis on building up cash reserves amidst potential tax rate changes.
Building Cash Reserves
Berkshire’s cash and U.S. treasury holdings have surged to $182.3 billion, with plans to exceed $200 billion by the end of the second quarter. Despite favorable interest rates, Buffett remains cautious, indicating a defensive stance in the current market environment.
Insurance and Utilities Landscape
Berkshire’s insurance businesses have shown robust performance, with a 39.1% increase in Q1 operating income. Discussions during the meeting highlighted the impact of new regulations, climate change, and autonomous driving on the insurance industry.
The AI Conundrum
Buffett’s views on artificial intelligence (AI) underscored the potential risks and rewards associated with the technology. While acknowledging its transformative power, he remains cautious about its long-term implications.
Optimism Amidst Caution
Despite the defensive stance, Buffett’s optimism about the American economy and long-term wealth creation remains unwavering. His advice on aligning investment strategies with personal goals resonates with the ethos of prudent investing.
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Bitcoin Price Today: 5 May 2024 – Updates and Analysis
Photo by Michael Förtsch on Unsplash
Reporters reported that Bitcoin price today (5 May 2024) moved up 1.44% compared to the price in 24 hours at 63,881 USD or approximately 2,350,948.56 baht, changing 0.66% over 7 days, according to the latest information on 6 :51 am passed by
In terms of price movements of other cryptocurrencies, ETH rose 0.22%, Tether fell 0.06%, and CDC fell 0.03% over the last 24 hours.
Summary of cryptocurrency prices
1. BTC price 63,881.29 USD, change 1.44%
2. ETH price 3,115.97 USD, change 0.22%
3. USDT price 1.00 USD change -0.06%
4. BNB price 586.02 USD, change -0.29%
5. SOL price 146.26 USD, change 1.56%
6. USDC price 1.00 USD change -0.03%
7. XRP price 0.5303 USD change -0.40%
8. DOGE price 0.1602 USD change 9.29%
9. TON price 5.76 USD, change 1.35%
10. ADA price 0.4634 USD change -1.02%
Note: The above information may be incorrect and should not be used for investment or trading decisions. Readers should check information about digital assets with the Securities and Exchange Commission (SEC) at www.sec.or.th.
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