Domestic gold price continues to climb, surpassing 102 million VND per tael

Domestic gold price exceeds 102 million VND/tael

At 9:00 a.m. this morning, the price of gold rings and gold bars was listed by Bao Tin Minh Chau at 99.9 - 102.2 million VND/tael, this is the highest price up to this point.

Similarly, the price of gold rings is listed by Doji at 99.8 - 102.1 million VND/tael (buy - sell), the price of gold bars is listed by Doji and SJC at 99.8 - 102.1 million VND/tael.

Domestic gold prices hit a new peak while world gold prices also continuously set new records. On the morning of April 1, world gold prices continued to hit a new peak when they reached 3,130 USD/ounce, up 40 USD/ounce compared to early yesterday morning.

World gold prices are driven by many factors, including increased demand for safe havens due to concerns about the consequences of the upcoming US tariff policies, strong demand from central banks, expectations of the US Federal Reserve (Fed) easing interest rates, geopolitical instability in the Middle East and Europe, and increased cash flows into gold-backed exchange-traded funds.

Gold prices are set to hit their 19th all-time high in 2025, including seven unprecedented highs above $3,000 an ounce. Prices are up 18% this year after soaring 27% in 2024.

Banks reducing their exposure to the greenback is not the main driver of central banks’ interest in gold, according to analysts at Capital Economics. The firm’s experts believe that the main driver of central banks’ interest in gold is the perceived safe-haven status of the precious metal. This demand could support gold prices above $3,300 an ounce by the end of 2025.

Economist Nguyen Tri Hieu analyzed that the current high gold price is due to many reasons, such as geopolitical tensions, the fluctuating US economy and President Trump's tax policy. All of these factors have, are and will push the gold price to reach $3,100/ounce.

"International financial companies predict that this milestone may not be reached until the end of the year, but in my opinion it will not be long. In this context, domestic gold prices are affected and will continue to increase," said expert Nguyen Tri Hieu.

Expert Tran Duy Phuong also believes that gold is a channel to attract money and the price of this metal has increased sharply in the first quarter of 2025, so the possibility of an increase is still there in the coming time. However, the market is always in a sine wave and the price has necessary adjustments. After the price increase, there will be a decrease to welcome a higher price increase.

TH (synthesis)

Source: https://baohaiduong.vn/gia-vang-trong-nuoc-tiep-tuc-leo-dinh-vuot-102-trieu-dong-moi-luong-408502.html