Gold price on April 16, 2025: SJC sets new peak, reaching 108 million VND/tael

Illustration photo. Photo: Internet

Domestic gold developments

This morning, SJC continued to show a continuous increase. The gold bar market maintained a steady increase. At present, major gold brands are listing the buying price at 105.5 million VND/tael and selling price at 108 million VND/tael. Particularly, Phu Quy SJC gold is being bought at 700,000 VND/tael lower than other units.

At the same time, the price of gold rings of major brands also recorded a sharp increase. For example, SJC 9999 gold rings increased by 1 million VND in both directions, bringing the buying price to 103 million VND/tael and the selling price to 106 million VND/tael.

In Hanoi and Ho Chi Minh City, DOJI system adjusted the price of gold rings to increase by 1.2 million VND for buying and 1.5 million VND for selling, raising the price to 103.2 million VND/tael and 106.5 million VND/tael, respectively.

PNJ gold ring brand currently lists the buying price at 102.8 million VND/tael and the selling price at 106 million VND/tael, recording an increase of 800,000 VND and 900,000 VND respectively.

Bao Tin Minh Chau also adjusted the price of plain round gold rings to VND104.1 million/tael for buying and VND107 million/tael for selling, VND1.5 million and VND800,000 higher than yesterday morning, respectively.

Phu Quy SJC is currently buying gold rings at 103.4 million VND/tael and selling at 106.7 million VND/tael, increasing by 1.1 million VND in both trading directions.

World gold developments

According to information from Kitco, at 5:00 a.m. this morning, Vietnam time, the world spot gold price reached 3,222.76 USD/ounce. Compared to yesterday, the gold price increased by 1.36%. When converted according to the free USD exchange rate of 26,063 VND/USD, the world gold price is currently equivalent to about 101.2 million VND/tael (excluding taxes and fees). Thus, the difference between SJC gold bars and the world gold price has reached 6.8 million VND/tael.

The reason for the sharp increase in gold prices is that investors are increasing their purchases to find a safe haven in the context of US President Donald Trump's announcement of plans to impose tariffs, raising concerns about trade policy. The weakening of the USD is also a factor supporting gold prices.

“Traders are waiting for more big fundamentals to drive the gold market, but the chart still shows an uptrend. Safe-haven demand remains,” said Jim Wyckoff, senior analyst at Kitco Metals.

The U.S. government is moving forward with investigations into pharmaceutical and semiconductor imports with the goal of imposing tariffs, according to information released Monday in the Federal Register. Trump also said Sunday that he would announce tariffs on imported semiconductors next week.

Gold – considered a safe investment channel when political and economic instability increases – has increased by more than 23% since the beginning of 2025 and continuously set new highs.

According to a report by Commerzbank: “The increase in gold prices is partly due to the continued weakness of the US dollar, indicating that the safe-haven status of this currency is gradually eroding – gold is likely to become an alternative for many investors holding US dollars.”

In addition, expectations of looser monetary policy in the coming time also contributed to the momentum for gold to rise. With the US dollar at a three-year low against a basket of major currencies, this precious metal has become more attractive to holders of other currencies.

Investors are now looking forward to a speech by Federal Reserve Chairman Jerome Powell for further clues on the direction of interest rates. The Fed is expected to resume its rate-cutting cycle in June after a pause in January, with a total reduction expected to be 100 basis points in 2025.

Elsewhere, spot silver edged down 0.4% to $32.23 an ounce, while platinum rose 1.4% to $964.80 an ounce and palladium edged up 1.3% to $968.46 an ounce.

Cao Thong (t/h)

Source: https://doanhnghiepvn.vn/kinh-te/gia-vang-ngay-16-4-2025-sjc-lap-dinh-moi-dat-108-trieu-dong-luong/20250416082658063