Gold price on April 16: Continuously increasing, SJC gold bars approaching 110 million VND/tael

(Photo: NGOC BICH)

In the domestic market, this morning, the price of SJC gold bars continued to increase by 1.8 million VND/tael as soon as the trading session opened, reaching nearly 110 million VND/tael, the highest ever.

Specifically, at 8:30 a.m. on April 16, Saigon Jewelry Company (SJC) listed the buying and selling prices of SJC gold bars at VND106.8-109.8 million/tael, up VND1.3 million and VND1.8 million/tael respectively compared to the previous session. The difference between buying and selling is VND3 million/tael.

SJC 9999 gold ring price is 105.3 million VND/tael for buying and 108.8 million VND/tael for selling.

DOJI gold bar prices in Hanoi and Ho Chi Minh City were bought at 106.8 million VND/tael and sold at 109.8 million VND/tael, up 1.3 million VND and 1.8 million VND/tael respectively compared to yesterday's closing price.

This brand listed the buying and selling price of Doji Hung Thinh Vuong 9999 gold ring at 104.8-107.8 million VND/tael.

PNJ Gold is currently buying at 104.7 million VND/tael and selling at 107.9 million VND/tael, an increase of 1.9 million VND/tael compared to the previous session.

As of 8:30 a.m. on April 16 (Vietnam time), the world gold price increased sharply by 56.2 USD compared to the previous session's close to 3,265.2 USD/ounce.

The world gold price this morning continued to increase sharply to a new historical peak in the context of the US's constantly changing tariff policy, increasing investors' demand for gold. In addition, the weakening of the USD is also a factor supporting the price of this precious metal.

Since the beginning of the year, the world spot gold price has increased by nearly 25% and continuously set new records due to economic and geopolitical instability. According to a survey by Kitco News, experts and retail investors are optimistic about the gold price increase this week.

Gold prices could surge to $3,300 and as high as $3,500 an ounce in the near term as investors talk about capital flight from the United States and a weakening dollar, predicts Marc Chandler, CEO of Bannockburn Global Forex.

This week, investors are waiting for the speech of the Chairman of the US Federal Reserve (FED) Jerome Powell tonight (Vietnam time) at the Economic Club of Chicago for more information on the upcoming interest rate trend of the FED.

Also today, the Bank of Canada (BoC) will announce its monetary policy decision. Analysts expect the BoC to keep interest rates unchanged.

In addition, at its meeting this Thursday, the European Central Bank (ECB) is likely to cut interest rates to continue supporting the regional economy.

This morning, the USD-Index fell to 99.91 points; the yield on 10-year US Treasury bonds was at 4.326%; US stocks continued to fall due to tariff concerns; world oil prices fell, trading at 64.86 USD/barrel for Brent oil and 61.52 USD/barrel for WTI oil.

Source: https://baothainguyen.vn/kinh-te/202504/gia-vang-ngay-164-tang-khong-ngung-vang-mieng-sjc-tien-sat-110-trieu-dongluong-2140bdd/