Gold prices plummet, experts have surprising predictions

On the evening of April 5, SJC gold bar prices were listed by businesses at around 97.1 million VND/tael for buying and 100.1 million VND/tael for selling - down 1.2 million VND/tael compared to the previous day.

The difference between buying and selling prices has been widened by businesses to VND3 million/tael amid strong price fluctuations. In the past two days, the price of gold bars has lost about VND2.7 million/tael and is moving away from its record peak.

Similarly, the price of 99.99 gold rings and jewelry gold of all kinds was listed by businesses at 97 million VND/tael for buying and 100 million VND/tael for selling - down 1.2 million VND compared to the end of yesterday.

Domestic gold prices have "turned around" and gone down due to the impact of world prices. In the international market, gold prices today stopped at 3,038 USD/ounce, losing a total of about 80 USD/ounce compared to the previous session.

World gold prices plunged at the end of the week despite the market still worrying about tensions from the tariff policies of US President Donald Trump and his partners.

Forecasting the upcoming gold price, experts have quite surprising comments.

Speaking to a reporter from Nguoi Lao Dong Newspaper on the evening of April 5, gold expert Tran Duy Phuong said that gold prices will begin to decline in the next 2 months after the factors that have helped the precious metal rise over the past period have been reflected in the price.

Specifically, over the past 2 months, starting from late January 2025 to early April 2025, gold prices have continuously increased from 2,700 to 3,167 USD/ounce due to many opinions that Mr. Donald Trump's imposition of tariffs on countries will cause trade tensions and increase inflation. Gold prices have been strongly supported.

"When this tax factor has been settled, the market has lost its supporting factor for gold. In the near future, countries such as China, the UK, South Korea, Japan, etc. will have negotiations on mutual tariffs to resolve and cool down this tension. If this roadmap develops positively, the price of gold will plummet" - Mr. Phuong predicted.

Recently, the increase in gold prices has been partly due to the low interest rate environment when major central banks in the world such as the UK, Australia, Canada, EU, Switzerland and the US have continuously cut interest rates.

Currently, there is not much room left to continue cutting interest rates further, so gold prices will find it difficult to increase strongly.

Giá vàng lao dốc, chuyên gia có dự báo bất ngờ- Ảnh 2. — Gold prices have fallen continuously over the past two days, far surpassing the historical peak.

In addition, recently, financial institutions, investors and gold ETF trust funds have increased their gold purchases very strongly.

"It is highly likely that they will begin the process of closing their profits to start a new investment process in gold at a more attractive price range. These factors may cause gold prices to decrease in the near future," said Mr. Phuong.

Meanwhile, John Reade, chief market strategist at the World Gold Council (WGC), said that the recent rise in gold prices was driven by uncertainty surrounding US tariff policies and the ongoing trade war. This has increased economic risks and market volatility. These factors have further increased investors' interest in gold as an important portfolio diversifier.

"It remains unclear whether gold prices can sustain their historic highs above $3,000 an ounce. While increased risks and uncertainty have boosted sentiment for gold, for gold prices to remain consistently high, there needs to be increased investment demand. However, gold's status as a safe haven asset has become more evident," said John Reade.