Gold price nears 116 million VND per tael, experts warn against 'going all in' on gold

People buy gold at Bao Tin Minh Chau (Photo: Hoai Nam/Vietnam+)

The domestic gold price on April 16, 2025 marked a surprising price jump for many people and professional investors when it increased by nearly 7 million VND/tael in just one day. This is also the highest increase ever.

Although this can be a profitable channel, experts also warn of many risks when gold prices reverse at any time.

The electronic board of Saigon Jewelry Company listed the price of SJC gold at 5:30 p.m. today (April 16) at VND113.00-115.50 million/tael (buy/sell). Similarly, other businesses such as Doji and Phu Quy also announced the buying and selling prices from VND113.00-115.50 million/tael.

At the same time, the price of gold rings also applied a new price list, in which Phu Quy Company announced from 110.20-113.20 million VND/tael, while Bao Tin Minh Chau Company listed the price of plain round gold rings from 112.00-115.00 million VND/tael (buy/sell).

Thus, today, the price of SJC gold has increased by a total of 6.9 million VND/tael, while gold rings have also increased by about 7.5 million VND/tael compared to yesterday's closing price. This is a record high for domestic gold prices. Notably, the difference between buying and selling prices is also kept high by businesses, ranging from 2-2.5 million VND/tael.

Many people lined up to trade gold (Photo: Hoai Nam/Vietnam+)

According to Mr. Nguyen Quang Huy, CEO of the Faculty of Finance and Banking at Nguyen Trai University, this price increase is the result of a combination of many factors intertwined between the international market and domestic psychology.

Specifically, world gold has officially surpassed the 3,200 USD/ounce mark, strongly boosting domestic growth. Meanwhile, in the domestic market, supply is not enough to meet demand, combined with crowd psychology, pushing prices up sharply.

“The supply of SJC gold bars is scarce, while demand is increasing rapidly. The sharp increase in the difference between domestic and international gold prices reflects a clear imbalance between supply and demand,” said Mr. Nguyen Quang Huy.

This expert also commented that with the existing factors, the international gold price still has the potential to increase further, especially if geopolitical tensions continue to escalate or unexpected events occur. Along with that, the global economic situation is more clearly weakening, forcing countries to pump money to support the economy and loosen monetary policy...

However, the gold market never goes in a straight line. Prices can increase sharply in the short term, but can also easily adjust, so this expert recommends that people stay calm, closely observe market developments and not follow the crowd.

“People should not borrow money or mortgage assets to buy gold when the market is hot. This is an expensive lesson that many people have experienced in the past. Moreover, do not “surf the gold wave” if you do not have experience and in-depth knowledge, because the market can reverse very quickly. Especially, do not “go all in” on gold, allocate assets reasonably, and have reserves for other options,” this expert noted.

Faced with unpredictable fluctuations in domestic and international gold prices, Bao Tin Minh Chau Company also recommends that investors and people should consider carefully before trading and regularly monitor gold prices on official channels to make the most correct decisions.

By the end of this afternoon, the world gold price had reached 3,307 USD/ounce, an increase of about 45 USD compared to this morning. This price is equivalent to 103.65 million VND/tael when converted according to the USD exchange rate at Vietcombank.

Meanwhile, Vietinbank and BIDV both traded from 25,660-26,020 VND/USD (buy/sell). Vietcombank announced from 25,650-26,010 VND./.

According to Vietnam+

Source: https://www.vietnamplus.vn/gia-vang-sat-moc-116-trieu-dong-mot-luong-chuyen-gia-canh-bao-khong-tat-tay-vao-vang-post1033149.vnp

Source: https://baolongan.vn/gia-vang-sat-moc-116-trieu-dong-mot-luong-chuyen-gia-canh-bao-khong-tat-tay-vao-vang-a193610.html