Gold prices are falling by the minute.

Tonight, April 23rd, gold prices are falling by the minute. In just over 24 hours, the world gold price has plummeted by $226 per ounce, equivalent to a decrease of 7.12 million VND per tael.

World gold prices are falling by the minute - Screenshot

Has the gold price bubble burst?

At 8:40 PM, the world gold price reached $3,298 per ounce. However, just 20 minutes later, at 9 PM, the world gold price had fallen to only $3,275 per ounce.

By 9:10 PM, the world gold price had fallen to $3,266 per ounce, equivalent to a decrease of $226 per ounce compared to its peak (7.12 million VND per tael).

Based on the exchange rate listed at the bank, the world gold price is equivalent to 102.9 million VND per tael.

Yesterday afternoon, the price of gold reached a new peak at $3,492 per ounce. However, the price of gold then immediately reversed and fell.

This is the sharpest correction in months. According to analyses, world gold prices plummeted after signs that the tide had turned.

Specifically, after continuously increasing tariffs on Chinese goods, Trump has "changed his tune." In a press conference at the White House, Trump said that the high tariffs the US has imposed on Chinese goods will be significantly reduced, but will never reach 0%.

US President Donald Trump also appeared to back down on his threat to fire Powell, after days of criticizing the Fed chairman for not lowering interest rates.

"I have no intention of firing him. I want to see him be more proactive in lowering interest rates," Trump told reporters in the Oval Office on April 22.

Furthermore, Russian President Vladimir Putin has lowered many of the conditions for implementing a ceasefire and restoring peace with Ukraine. This proposal was made during a meeting between the Russian President and Steve Witkoff, President Donald Trump's special envoy, in mid-month.

This is the first time Putin has officially offered to lower his demands since the early stages of the war with Ukraine. Prior to this, the Russia-Ukraine conflict and tariff tensions had driven gold prices higher than all predictions.

Domestically, from the beginning of 2025 to the present, the price of SJC gold bars has increased by approximately 52.38%, raising the price from 84 million VND/ounce to 124 million VND/ounce. However, as these issues were actively resolved, the gold price bubble burst.

Domestic gold prices plummeted by 4.5 million VND per tael in a single day.

What people are concerned about right now is whether domestic gold prices will fall sharply in line with world gold prices - Photo: THANH HIEP

This morning, SJC Company reduced the selling price of SJC gold bars by 2 million VND/ounce, to 122 million VND/ounce, while the buying price remained at 120 million VND/ounce.

However, the decline did not stop. By the end of the day, the selling price of SJC gold bars had fallen to only 119.5 million VND/ounce, and the buying price to 116.5 million VND/ounce. Thus, in just one day, the price of gold bars had evaporated by 4.5 million VND/ounce.

The difference between buying and selling prices increased from 2 million VND/ounce to 3 million VND/ounce. The price of 9999 gold rings decreased to 115.6 million VND/ounce (selling price), and 112.5 million VND/ounce (buying price).

At PNJ Company, the buying and selling prices of SJC gold bars also decreased to the same level as at SJC Company, while the selling price of 9999 gold rings at the end of the day was 115.7 million VND/ounce, and the buying price was 112.9 million VND/ounce.

At Bao Tin Minh Chau Company, the selling price of 9999 gold rings dropped sharply this morning to 118 million VND/ounce, while the buying price was 115 million VND/ounce, equivalent to a decrease of 4 million VND/ounce compared to last night.

Due to the sharp drop in world gold prices tonight, the difference between domestic and international gold prices has widened significantly. Compared to the converted world gold price, SJC gold bars are currently 16.6 million VND/ounce higher, while gold rings are 12.8 million VND/ounce higher.

Please follow the developments of domestic gold prices here.

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Source: https://tuoitre.vn/gia-vang-giam-tung-phut-20250423211337946.htm