Experts point out factors that could cause gold prices to reverse

At noon on April 14, the price of SJC gold bars continued to increase to 105 million VND/tael for buying and 107.5 million VND/tael for selling, an increase of 500,000 VND/tael compared to the morning, after having increased by 1 million VND/tael compared to the weekend.

Similarly, the price of 99.99 gold rings and jewelry gold of all kinds was also bought by businesses at 102 million VND/tael and sold at 105 million VND/tael, an increase of 400,000 VND/tael compared to the morning.

Domestic gold prices are increasing beyond all forecasts while world prices are at a new record of 3,240 USD/ounce.

The recent fluctuations in gold prices have been described by experts as "unprecedented" as the peaks keep pushing past peaks.

Financial expert, Dr. Nguyen Tri Hieu analyzed that the gold price not only exceeded all forecasts but also surprised all investors, traders and financial circles. The reason for the "unprecedented" increase in gold prices stems from the tension of the trade war between the US and China, after the news that the two economic powers of the world continuously announced the imposition of very high reciprocal tariffs.

Domestic and world gold prices exceeded all previous forecasts.

In particular, the tension in tariff policy between the US and China has made the financial market worried, investors flocked to gold to find shelter when fearing the global trade crisis.

Gold prices have been on an upward trend since 2024. So what will be the next milestone? Expert Nguyen Tri Hieu said that with the current situation, it is difficult to predict at what milestone gold prices will peak.

"Previously, I predicted that the gold price could reach 3,100 USD/ounce in the first half of 2025, but in fact, the current peak has exceeded 3,200 USD/ounce. The gold price could continue to increase to 3,300 USD or 3,500 USD/ounce" - Dr. Hieu predicted.

On the other hand, experts 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, gold prices may reverse. At the same time, gold traders will enter the profit-taking phase after a series of hot increases, which will also cause gold prices to fall because the profit-taking pressure is very high.

However, in the current context, both the US and China have not yet finalized a negotiation plan, while the US and other markets will have 90 days to negotiate... These factors can strongly impact gold prices in the coming time" - Dr. Hieu expressed his opinion.

Gold expert Tran Duy Phuong also said that gold prices are benefiting from concerns about US tariffs on other countries. The market is currently watching the moves of US President Donald Trump and China.

"The US has not responded or criticized China after China imposed additional tariffs on US goods of 125% as a retaliatory move. Investors believe that these are goodwill moves by the US. If in the near future, the two sides have moves to negotiate or compromise on tariffs, the price of gold will decrease sharply" - Mr. Tran Duy Phuong predicted.

In just about 1 week, each tael of SJC gold bar has increased by 7-8 million VND.

According to experts, domestic gold prices are also fluctuating strongly according to world prices, so they will also be affected when world prices reverse. At the same time, due to strong fluctuations, businesses are pushing risks onto customers - by widening the buying and selling price range to 3-3.5 million VND/tael.

Therefore, it is reasonable for people and gold investors to set a certain profit target of about 30% at this time. Explaining this, Dr. Nguyen Tri Hieu said that in the case of holding gold to a profit level of about 30%, it is possible to think about taking profit to preserve profits. Or if you want to buy gold at this time, you also need to consider whether there is much room for price increase or not.

Source: https://nld.com.vn/chuyen-gia-chi-ra-yeu-to-co-the-khien-gia-vang-dao-chieu-196250414143726781.htm