Gold price today 3-4 increased sharply, approaching 103 million VND/tael

Opening the morning session, the price of gold rings traded at Bao Tin Minh Chau was at 100-102.9 million VND/tael (buy - sell), an increase of 1,200,000 VND/tael for buying, and an increase of 1,100,000 VND for selling compared to the closing price yesterday.

Meanwhile, at DOJI Gold and Gemstone Group Joint Stock Company, plain round rings are traded at around VND99.9 - 102.8 million/tael (buy - sell). At Phu Quy Gold Investment Joint Stock Company, gold rings are traded at VND99.8 - 102.8 million/tael (buy - sell).

At Saigon Jewelry Company Limited, SJC listed the price of SJC gold bars at 100.1-102.8 million VND/tael (buy - sell), an increase of 1,000,000 VND/tael in both buying and selling compared to the closing price yesterday.

Domestic gold prices today are trading at a historic peak. The difference between buying and selling prices of domestic gold is quite high, nearly 3 million VND/tael, pushing the risk of short-term losses to gold buyers.

Domestic gold prices today increased sharply following the increase in world gold prices. On the morning of April 3 (Vietnam time), the world gold price was trading at 3,165 USD/ounce. If converted according to Vietcombank exchange rate, each tael of world gold costs about 98.2 million VND/tael. Thus, the domestic gold price is still nearly 5 million VND/tael higher than the world gold price.

According to banking and finance experts, domestic gold prices are closely following the movements of world gold prices. The increase of this precious metal continues to be driven by safe-haven money flows as the newly signed reciprocal tax decree by US President Donald Trump has raised concerns about an escalating trade war. This reciprocal tax is much stronger than expected, which will lead to a sell-off in the asset market and a depreciation of the USD.

Meanwhile, the latest US jobs report showed private payroll growth picked up in March. The market is still waiting for more non-farm payroll data to clarify the US Federal Reserve's interest rate path this year. Expectations of a Fed rate cut in the second half of the year also boosted gold's rally.

Financial experts note that domestic gold buyers at this time need to closely monitor the market before deciding to buy, because the current buying-selling gap is high, pushing risks to the gold buyer. In addition, when the demand for gold increases and the quantity sold is limited, there will be fraud and fake gold sales for profit.

Source: https://baobinhphuoc.com.vn/news/4/171069/gia-vang-hom-nay-3-4-dong-loat-tang-manh-tien-sat-103-trieu-dong-luong