Domestic gold price exceeds 101 million VND per tael

At 9:30 this morning, the price of gold bars was listed by Doji Group and SJC at 99.2 - 101.2 million VND/tael (buy - sell), an increase of 800,000 - 500,000 VND/tael (buy - sell) compared to early this morning.

At the same time, Doji listed the price of gold rings at 98.9 - 101.2 million VND/tael (buy - sell), an increase of 500,000 VND/tael in both directions.

Meanwhile, the price of gold bars and gold rings this morning was listed by Bao Tin Minh Chau at 99.3 - 101.3 million VND/tael (buy - sell).

Thus, this is the highest price of gold rings and gold bars up to the present time.

Domestic gold prices increased sharply today due to the continued rise in world gold prices. On the morning of March 31, the world gold price listed on Kitco was at 3,091 USD/ounce, up 5 USD/ounce compared to early yesterday morning.

Gold prices continued to rise as investors flocked to the safe-haven asset amid growing concerns about a global trade war sparked by US tariff policies.

Gold has broken through $3,000 an ounce, with strong demand from central banks, Chinese consumers and North American investors, while the gold market remains largely untapped, said Adrian Day, chairman of Adrian Day Asset Management.

The daily MACD indicator continues to push into overbought territory, according to David Morrison, senior market analyst at Trade Nation. In fact, gold remains overbought compared to six weeks ago, alleviating investors’ concerns about an impending sharp decline.

Commenting on the increase in domestic gold prices, gold expert Tran Duy Phuong said that whether domestic gold prices increase or decrease depends largely on world gold prices. Mr. Phuong believes that from now until the end of 2025, investing in gold is still effective because world gold prices still have room to increase and pull domestic gold prices up as well.

However, according to Mr. Phuong, Vietnam's gold price peaked faster than the world's gold price and the rate of increase in Vietnam's gold price was always faster than the rate of increase in world's gold price due to the influence of psychological factors.

"Vietnam's gold price is always controlled and monitored by the State Bank. It is natural that the increase in world gold price will increase domestic price, but there will not be a difference of over 10 million VND per tael of gold, or even nearly 20 million VND as before. With this control, it is difficult for SJC gold to reach 110-115 million VND/tael at present," said Mr. Phuong.

He also warned that now is a risky time to invest in gold, because the world gold price is likely to decline and adjust again after a period of rapid increase. However, gold is not out of opportunities this year.

"I see that from now until the end of 2025, the gold investment strategy is still effective, the world gold price still has room to increase. But investing in gold requires choosing the right time, considering the time to buy and sell to get the highest rate of return. For example, currently the world price is near its historical peak and the domestic price is also at its highest level ever. At this time, if you spend money to buy gold, you will still make a profit in the future, but the rate of return will not be high and the waiting time for a good profit will be quite long," said Mr. Phuong.

TH (synthesis)

Source: https://baohaiduong.vn/gia-vang-trong-nuoc-vuot-101-trieu-dong-moi-luong-408436.html