On the evening of April 23, gold prices fell vertically.

At 10 p.m. on April 23, Vietnam time, the world gold price was trading at $3,288/ounce, down nearly $100/ounce compared to the morning. Just a few minutes before, the "free fall" of the gold price reached $3,263/ounce, down a total of $120/ounce compared to the previous session.

Compared to the historical peak just set yesterday - the mark of 3,500 USD/ounce, each ounce of gold has "evaporated" a total of about 240 USD/ounce (equivalent to about 7.5 million VND/tael). This is a shocking decrease in the world gold price, after increasing rapidly for a few days and then climbing to an all-time high.

The sharp rise and fall in gold prices has surprised many investors. In the international market, the precious metal has been strongly profit-taking, even sold off after optimistic news about the US-China trade war.

In the latest development, President Donald Trump said the 145% tariff he imposed on imports from China will be "reduced substantially." Mr. Trump made the statement and expressed optimism about future negotiations to reach a US-China trade deal.

Tối 23-4, giá vàng rớt thẳng đứng - Ảnh 1. — Gold prices continue to plummet tonight

Earlier the same day, Finance Minister Scott Bessent said that the trade confrontation between the US and China cannot last forever.

Furthermore, positive economic news from the US such as the housing market growing beyond expectations and the strong recovery of the USD also caused gold prices to fall...

According to analysts, the price of gold has increased dramatically recently due to investors' concerns about tariff tensions between the US and China. If this factor is resolved, the price of gold will plummet.

For the domestic gold market, the current price of SJC gold bars traded by businesses is around 116.5 million VND/tael for buying and 119.5 million VND/tael for selling, a total decrease of 4.5 million VND/tael in 1 day.

Similarly, the price of 99.99% gold rings and jewelry gold was bought by businesses at 112.5 million VND/tael and sold at 115.6 million VND/tael, a total decrease of 4 million VND just today.

The price of gold bars on the free market has plummeted even more. Some stores bought SJC gold bars for only 115.9 million VND/tael, and sold them for 118.4 million VND/tael, a total drop of 8 million VND in one day.

The world gold price converted according to the listed exchange rate is about 102.8 million VND/tael, 12-16 million VND/tael lower than SJC gold rings and gold bars.