Gold also has times of soaring and then falling sharply.

Gold prices have been rising rapidly, continuously setting historical peaks - reaching 101 million VND/tael on March 19. In just one year, the price of gold rings has increased by about 30 million VND/tael, and SJC gold bars have also increased by more than 19 million VND/tael.

Accordingly, the price of gold rings and gold bars increased by 43% and 23% respectively compared to the same period last year. With this increase, gold is 3-5 times more profitable than saving money.

At this time, predictions of gold falling to 80 million VND/tael or even deeper became out of place. Few people believed in such a scenario.

However, the history of gold prices has proven that "gold does not just increase", but sometimes sinks deep to the bottom for many years.

During the period 2009-2011, the price of this precious metal also fluctuated violently. In just 3 years, the price of domestic gold bars jumped from 19 million to 49 million VND/tael, an increase of more than 30 million VND/tael. This was also considered the first "gold rush" of the 21st century when the demand for gold of Vietnamese people was pushed to its peak.

However, before the threshold of 50 million VND/tael, at the end of 2011, the gold price began to plummet and was around 34-36 million VND/tael in the period 2012-2018, reaching a bottom of 32.45 million VND/tael at the end of 2015.

It was not until 2019 that gold entered a price increase cycle, soaring to 42.6 million VND/tael at the end of the year's trading session, and then maintaining a strong upward momentum in the following years. This means that it took many years for gold buyers in 2011 to break even.

The 2011 scenario is entirely possible to repeat.

After many years of stagnation after the decline in late 2011, the gold price only really had a new fever at the end of 2023. The price of SJC gold bars recorded in the first trading session of 2023 was 67 million VND/tael (sold). Just over two years later, on March 19, 2025, the price of gold bars exceeded 100 million VND/tael, an increase of 33 million VND/tael (equivalent to an increase of 49.3%).

From the bottom of 32.45 million VND/tael at the end of 2015, the price of SJC gold bars has increased by 67.55 million VND/tael, equivalent to an increase of 208%.

Similarly, the price of gold rings on January 1, 2023 was only at 54 million VND/tael for sale, by March 19, 2025 it jumped to 100 million VND/tael, an increase of about 46 million VND/tael (equivalent to an increase of 85%).

This gold price increase has many supporting factors from both domestic and international sources. Currently, domestic gold prices are "swinging" at a historical peak, when this precious metal on the world market officially surpassed 3,000 USD/ounce and continuously set new peaks.

The commodity has also benefited from concerns about global economic and geopolitical instability. In addition, the rise in gold prices has been driven by many factors, such as the weakening of the US dollar, unattractive stock and real estate markets, and very low savings interest rates.

In addition, the prolonged inflationary pressure in many areas continues to increase the attractiveness of gold as a hedge against currency devaluation. Not to mention the "sharks" speculating in the international gold market are looking to "follow the rain" to profit from gold.

Given the above factors, many experts expect the gold price to reach $3,200/ounce or even higher this year. Domestic gold prices will increase accordingly and set a new historical threshold, but will occasionally reverse up and down.

On the contrary, some readers of VietNamNet warned that the increase of gold to 3,000 USD this time has similarities with the increase to a record high of nearly 1,900 USD/ounce in 2011, then a sharp decline due to profit-taking pressure. This precious metal began to continuously decrease and bottomed out at 1,049 USD/ounce in 2015.

This reader's statistics: Since the end of 2019, the world gold price has started to increase again and by 2020, it closed at 1,895.10 USD/ounce. That is, if you bought gold from the end of 2011, it will not be until the end of 2020 that the gold holder will "return to shore".

When the above factors supporting gold prices pass, world gold will inevitably plummet, and domestic gold will also decrease. Therefore, at this time, careful consideration is needed, avoiding buying based on emotions, because no commodity has only one direction of continuous increase.

In fact, after surpassing the peak of 100 million VND/tael, the domestic gold price turned to decline at the end of the session on March 20, 2025. At the end of the trading session on March 21, the price of SJC gold rings of types 1-5 only "evaporated" 3.1-2.4 million VND/tael (buy - sell), to 94.6-97.3 million VND/tael; Doji's 9999 gold rings also decreased to 95.2-98.5 million VND/tael, "losing" 3.5-1.7 million VND/tael in both buying and selling.

SJC gold bar price dropped sharply in both buying and selling directions, to 94.7-97.7 million VND/tael.

Gold fever reaches new peak, price falls to 72-80 million in which case? Gold price skyrocketed to 100 million VND/tael, breaking all previous records and forecasts. However, according to one of the 3 scenarios forecasting gold price in 2025, this precious metal can still fall to 72-80 million VND/tael.