In just one day, domestic gold prices surged wildly by 7.5 - 8 million VND per tael, causing widespread anxiety. Surprisingly, the increase in domestic prices was stronger than world gold prices, resulting in domestic gold prices being up to 12 million VND per tael higher than world prices.
Gold rush island
At 5 PM on April 16th, Saigon Jewelry Company listed... SJC gold bar price Gold prices ranged from 113 to 115.5 million VND per tael, an increase of 7.5 million VND per tael compared to earlier this morning.
Today, the price gold bars SJC gold prices at this company have increased eight times, leaving many people "dizzy." SJC gold prices are fluctuating continuously. breaking records The situation changed hour by hour, leaving many people restless.
Although the rise in gold prices was anticipated, many people were still surprised and somewhat regretful by the rapid increase of this precious metal. Since the beginning of the year, the price of SJC gold bars has increased by approximately 25 million VND per tael. This is the strongest increase in the past 10 years.
Price gold rings There was also a day of frantic price increases, at one point the price of gold rings was equal to that of gold bars. However, by late afternoon, the price of gold rings slowed down. Specifically, Bao Tin Minh Chau Co., Ltd. listed the price of gold rings at 112-115 million VND/ounce, an increase of 8 million VND/ounce compared to the beginning of the morning.
Currently, the price of gold rings is only half a million dong per ounce lower than that of gold bars.
Many investors are left with lingering regrets because Take profit on gold At that time, the price was 100 million VND/ounce, and they couldn't buy back the gold they had sold, while the price had already exceeded 115 million VND/ounce.
Many investors who had savings deposits but couldn't withdraw them in time missed the opportunity to buy gold. "When the price of gold was around 101 million VND/ounce, I intended to withdraw my savings to buy it, but I hesitated because I didn't want to lose the interest. Looking at today's gold price, I keep regretting it," said Ms. Mai Hoa (from Dong Da district, Hanoi ).
At many gold shops on Tran Nhan Tong Street, Cau Giay (Hanoi), people still patiently queue up even though they can only buy 1 tael (approximately 3.75 grams) per day.
Today, with gold prices reaching their peak, the "black market" is more difficult because many people want to buy but many sellers don't have gold to sell. Conversely, those hoarding gold are willing to pay 1-3 million VND/ounce higher than the listed price.
The "frenzy" of gold domestic Surprisingly, despite reaching a new peak, world gold prices only increased by $62/ounce (equivalent to nearly 1.7 million VND/ounce) in a single day. Accordingly, the world gold price was listed at $3,304/ounce, or approximately 103.5 million VND/ounce.
With the increase in domestic prices, SJC gold is currently... higher than the world 12 million VND/ounce. This gap repeats history when Bank The government has not intervened in the price of SJC gold bars since mid-2024.
People should calmly observe the market.
Talk with According to Tien Phong newspaper , Mr. Nguyen Quang Huy, a financial expert from Nguyen Trai University, said that today marks a shocking price jump for many people and professional investors alike. The price of SJC gold reached a new peak of 115.5 million VND/ounce – the highest level ever. This price increase is the result of a combination of factors intertwined between the international market and domestic sentiment.
Specifically, the price of gold world Gold prices surpassed $3,200 per ounce, strongly boosting domestic prices. The reasons for the sharp increase in global gold prices include: Political and military tensions in the Middle East; the risk of economic recession in several major economies, particularly Europe and Japan; and central banks in many countries continuing to net buy gold to hedge against systemic risks and reduce dependence on the US dollar. trade tensions between the US In major economies , reciprocal tariff retaliation increases global economic instability.
"In this context, gold has become the leading safe-haven asset, highly sought after by investors, financial institutions, and even governments," Mr. Huy said, adding that Supply did not meet demand, coupled with "herd mentality," which drove prices up sharply.
According to Mr. Huy, the supply of SJC gold 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. The "FOMO" (fear of missing out) mentality is causing many people to rush to buy gold during periods of sharp price increases, inadvertently further fueling the price surge.
"The gold market never moves in a straight line. Prices can rise sharply in the short term, but can also easily correct when the following factors occur: changes in market sentiment, government intervention to stabilize prices, and profit-taking selling pressure." increase "This information comes from international financial institutions. Therefore, people need to remain calm, carefully observe market developments, and not follow the crowd mentality," Mr. Huy analyzed.
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