Closing session at 115.5 million VND/tael: Gold sets historical record 5 times in one day

At the beginning of today's trading session, at 9:00 a.m., the price of gold bars quickly broke the peak of 108 million VND/tael set on April 15 with a new record of 109.8 million VND/tael. Similarly, the price of gold rings also reached a peak of 108.8 million VND/tael.

This peak did not last long, only in the next adjustment at 11am, the price of gold bars and rings continued to set new peaks, respectively 111 million VND/tael and 110.5 million VND/tael.

Next, at 2:00 p.m., the price of gold bars reached the peak of 113.9 million VND/tael, while that of gold rings was 113.2 million VND/tael.

The increase continued until 3 p.m., when the price of gold bars increased by 600,000 VND/tael to 114.5 million VND/tael, while gold rings increased by 700,000 VND/tael to 113.9 million VND/tael.

At 3:30 p.m. this afternoon, the price of gold bars once again broke previous peaks to reach 115.5 million VND/tael, while gold rings conquered the threshold of 115 million VND/tael.

Thus, in just one day, the price of gold has broken old records 5 times in a row to set new historical peaks.

Compared to the price at the beginning of this morning, before the trading session started, the price of gold bars increased by 7.5 million VND/tael, and gold rings increased by 8.5 million VND/tael.

However, by the end of this afternoon's trading session, the price of gold bars still maintained its peak of 115.5 million VND/tael, but the price of gold rings turned down to 113.5 million VND/tael, down 1.5 million VND/tael compared to the historical peak.

Economist Nguyen Tri Hieu assessed that the fluctuations in the global financial market have pushed the world gold price to a new record high, causing the domestic gold price to increase sharply. In fact, this precious metal still has room to increase further as the list of safe haven assets is increasingly narrowing.

Mr. Hieu analyzed that in the context of tariff tensions that have not cooled down, investors will seek gold as a shelter in global trade tensions.

In addition, the sharp weakening of the US dollar against other major currencies also contributed significantly to the increase in gold prices. When the greenback loses value, gold, which is priced in US dollars, becomes more attractive to international investors.

In particular, the tension in tariff policy between the US and China has made the financial market worried, investors flocked to gold for shelter amid concerns about the global trade crisis.

Moreover, concerns that escalating global trade tensions will slow economic growth are leading the market to expect the US Federal Reserve (Fed) to continue cutting interest rates.

This puts further pressure on the dollar and reduces the appeal of US government bonds, which have traditionally been a safe haven.

" This factor further pushes up gold prices ," said Mr. Hieu.

Talking about the price of gold in the coming time, expert Nguyen Tri Hieu said that it is very difficult to predict the end of the gold price increase streak. According to him, there is no "ceiling" for gold price. He said that the precious metal is heading towards the mark of 3,300 USD/ounce.

" The $3,500/ounce mark will take more time. However, if the factors supporting gold prices are present, investors do not need to wait too long, this mark can be reached in 2025 ," Mr. Hieu said.

Regarding domestic gold, he said that gold exceeding 110 million VND/tael is unprecedented, but in reality it has been achieved and is likely to continue.

However, Mr. Hieu also pointed out factors that could cause gold prices to reverse. The first is that the US and China could sit down to negotiate tariffs. Currently, the US tariffs on imports from China are 145%, while China on April 11 also announced a 125% tariff on US imports.

" If the negotiations show positive signs, the gold price may reverse. In addition, gold traders will enter the profit-taking phase after a series of hot increases, which will also cause the gold price to go down because the profit-taking pressure is very high ," Dr. Hieu stated his opinion.

According to VTCNews

Source: https://baolaocai.vn/chot-phien-len-1155-trieu-dongluong-mot-ngay-vang-5-lan-lap-ky-luc-lich-su-post400312.html