Just opened the session, the price of SJC gold bars increased by 2.5 million VND/tael, the most expensive in history.

The price of SJC gold bars this morning, April 17, continued to increase sharply, setting the most expensive level in history when reaching 118 million VND/tael.

At 8:30 a.m., Doji and SJC listed gold bar prices at 115.5 - 118 million VND/tael (buy - sell), an increase of 2.5 million VND/tael (buy - sell) compared to early this morning.

Meanwhile, the price of gold rings is currently listed by Doji at 112.7 - 115.9 million VND/tael (buy - sell), an increase of 2.4 million VND/tael (buy - sell) compared to early this morning.

Domestic gold prices increased sharply following the increase in world gold prices. On the morning of April 17, world gold prices reached a new peak when they conquered the threshold of 3,349 USD/ounce, an increase of 109 USD/ounce compared to the beginning of the previous morning.

Gold prices hit a record high as they continued to be supported by a weaker US dollar and safe-haven demand due to escalating US-China trade tensions.

Gold remains strongly supported by the decline in the US dollar, uncertainty surrounding tariff announcements and concerns about a global economic slowdown, said FXTM senior research analyst Lukman Otunuga.

Otunuga stressed that gold’s move above $3,300 an ounce means the precious metal has reached a psychological level. Bulls could target $3,400 an ounce, $3,500 an ounce and beyond.

However, he also warned that a bout of profit-taking or positive developments in US-China trade could trigger a sell-off.

Commenting on the development of gold prices in the coming time, Dr. Nguyen Hong Minh - former Head of the Department of Investment, National Economics University - predicted that in the long term, with the current increase, the threshold of 150 million VND/tael of gold is no longer too far away.

The basis for this assessment, according to Mr. Minh, is due to geopolitical instability and tariff policies of countries. This can negatively impact the economies of many countries and investors will seek a safe haven in gold, because in essence, gold is a special currency with the highest liquidity.

Expert Nguyen Tri Hieu also warned that when gold prices are as high as they are now, there will be many risks.

"Because when the market is hot due to scarcity and when it is saturated, it will fall very quickly. In addition, there are risks due to fluctuations in the market, risks due to the difference between buying and selling prices. Therefore, buyers must calculate this risk to control and manage the risk," Mr. Hieu advised.

Investors should not buy and sell in a "surfing" style because this is a very dangerous time. At the same time, they should allocate their financial resources to many channels. "In addition, they should not let the crowd psychology incite and dominate, they must control the Fomo psychology - the fear of missing out syndrome", Mr. Hieu emphasized.

(According to VTC News)

Source: https://baoyenbai.com.vn/12/348948/Vua-mo-phien-gia-vang-mieng-SJC-da-tang-25-trieu-dongluong-dat-nhat-lich-su.aspx