Gold price today (April 23): "Plummeting" without brakes

Domestic gold price today

The price of domestic gold bars continues to increase sharply. Currently, gold brands are buying at 122 million VND/tael and selling at 124 million VND/tael. On the buying side, Bao Tin Minh Chau and Phu Quy SJC gold are buying at 1.5 million VND and 2 million VND lower than other brands, respectively. On the selling side, Phu Quy SJC and Bao Tin Minh Chau gold are selling at 1 million VND and 1.5 million VND lower, respectively.

Similarly, the price of gold rings of various brands was adjusted to increase sharply. Specifically, the price of SJC 9999 gold rings was adjusted to increase by 3 million VND for the purchase price and 5.5 million VND for the selling price, up to 116 million VND/tael and 119 million VND/tael, respectively.

Domestic gold prices increase sharply. Photo: thanhnien.vn

DOJI in Hanoi and Ho Chi Minh City markets adjusted the buying price up by 3.7 million VND and the selling price up by 2 million VND to 117.2 million VND/tael for buying and 119 million VND/tael for selling, respectively.

PNJ brand gold ring price is listed at 117 million VND/tael for buying and 120 million VND/tael for selling, an increase of 3.5 million VND for buying and 3.1 million VND for selling.

Bao Tin Minh Chau listed the price of plain round gold rings at 119 million VND/tael for buying and 122 million VND/tael for selling, an increase of 4.5 million VND for buying and 4 million VND for selling.

Phu Quy SJC is buying gold rings at 117 million VND/tael and selling at 120 million VND/tael, an increase of 3.2 million VND in both directions.

Domestic gold bar prices updated at 5:30 a.m. on April 23 as follows:

Yellow	Area	Early morning 22-4	Early morning April 23	Difference
Buy	Sell	Buy	Sell	Buy	Sell
Unit of measure: Million VND/tael	Unit of measure: Thousand dong/tael
DOJI	Hanoi	116	118	122	124	+6000	+6000
Ho Chi Minh City	116	118	122	124	+6000	+6000
SJC	Ho Chi Minh City	116	118	122	124	+6000	+6000
Hanoi	116	118	122	124	+6000	+6000
Danang	116	118	122	124	+6000	+6000
PNJ	Ho Chi Minh City	116	118	122	124	+6000	+6000
Hanoi	116	118	122	124	+6000	+6000
Bao Tin Minh Chau	Nationwide	116	118	120.5	122.5	+4500	+4500
Phu Quy SJC	Nationwide	115.5	118	120	123	+4500	+5000

World gold price today

World gold prices turned to “plummet”, with spot gold prices falling by 94.8 USD to 3,330.6 USD/ounce. Gold futures last traded at 3,343 USD/ounce, down 92.6 USD compared to early this morning.

Gold prices fell sharply and lost more than $90 on Tuesday after hitting a record high of $3,500 earlier in the session, as optimism about stocks and the dollar rebounded after comments from U.S. Treasury Secretary Scott Bessent hinted at easing U.S.-China trade tensions.

A sell-off was triggered by comments from the US Treasury Secretary hinting at a possible thaw in the trade war, according to RJO Futures senior market strategist Bob Haberkorn.

On Tuesday, Mr. Bessent said he expected “a de-escalation” in the U.S.-China tariff war in the “very near future.” Shortly afterward, U.S. stocks rose more than 2% and the dollar rebounded. The U.S. Dollar Index rose 0.7%, making bullion more expensive for holders of other currencies.

"Today's rally in equities and the US dollar index is negative for the gold market," said Jim Wyckoff, senior analyst at Kitco Metals.

World gold prices “plummet”. Photo: Reuters

Earlier in the session, spot gold hit a record high of 28, soaring above $3,500 an ounce for the first time.

Despite the sharp decline in gold, JPMorgan remains optimistic that the rally will continue, forecasting gold prices to surpass $4,000 an ounce next year amid rising recession risks, rising US tariffs and persistent US-China trade tensions.

Traders are now awaiting speeches from several US Federal Reserve (Fed) officials later this week, hoping to gain insight into future monetary policy amid concerns about the central bank's independence.

With the domestic gold bar price increasing sharply and the world gold price listed at Kitco at 3,330.6 USD/ounce (equivalent to about 104.8 million VND/tael converted according to Vietcombank exchange rate, excluding taxes and fees), the difference between domestic and world gold prices is about 19.2 million VND/tael.

TRAN HO HOAI

* Please visit the Economics section to see related news and articles .