Gold price today (April 24): Continues to decrease sharply

Domestic gold price today

Domestic gold bar prices have reversed and dropped sharply. At the end of April 23, gold brands were buying at 116.5 million VND/tael and selling at 119.5 million VND/tael.

Similarly, the price of gold rings of various brands was adjusted down sharply. Specifically, the price of SJC 9999 gold rings was adjusted down by 3.5 million VND for both buying and selling prices, down to 112.5 million VND/tael for buying and 115.5 million VND/tael for selling, respectively.

Domestic gold prices drop sharply. Photo: laodongthudo.vn

DOJI in Hanoi and Ho Chi Minh City markets adjusted the buying price down by 4.7 million VND and the selling price down by 3.7 million VND to 112.7 million VND/tael for buying and 115.3 million VND/tael for selling, respectively.

PNJ brand gold ring price is listed at 112.7 million VND/tael for buying and 115.9 million VND/tael for selling, down 4.3 million VND for buying and 4.1 million VND for selling.

Bao Tin Minh Chau listed the price of plain round gold rings at 115 million VND/tael for buying and 118 million VND/tael for selling, down 4 million VND for both buying and selling.

Phu Quy SJC is buying gold rings at 113.5 million VND/tael and selling at 116.5 million VND/tael, down 3.5 million VND in both directions.

Domestic gold bar prices updated at 5:30 a.m. April 24 as follows:

Yellow	Area	Early morning April 23	Early morning 24-4	Difference
Buy	Sell	Buy	Sell	Buy	Sell
Unit of measure: Million VND/tael	Unit of measure: Thousand dong/tael
DOJI	Hanoi	122	124	116.5	119.5	-5500	-4500
Ho Chi Minh City	122	124	116.5	119.5	-5500	-4500
SJC	Ho Chi Minh City	122	124	116.5	119.5	-5500	-4500
Hanoi	122	124	116.5	119.5	-5500	-4500
Danang	122	124	116.5	119.5	-5500	-4500
PNJ	Ho Chi Minh City	122	124	116.5	119.5	-5500	-4500
Hanoi	122	124	116.5	119.5	-5500	-4500
Bao Tin Minh Chau	Nationwide	120.5	122.5	116.5	119.5	-4000	-3000
Phu Quy SJC	Nationwide	120	123	116.5	119.5	-3500	-3500

World gold price today

World gold prices continued to decline, with spot gold falling $40.6 to $3,290 an ounce. Gold futures last traded at $3,301.5 an ounce, down $41.5 from early this morning.

Gold prices continued to fall on Wednesday after US President Donald Trump hinted at reducing tariffs on China and backed off his threat to fire Federal Reserve Chairman Jerome Powell after days of criticizing the Fed chief for not cutting interest rates. This brought the metal down more than 3% from its recent all-time high.

UBS analyst Giovanni Staunovo said that President Trump’s comments, including his softer stance on the Fed chairman and his comments on China, have eased some market concerns and weighed on the yellow metal. However, he remains bullish on bullion.

“We continue to expect gold prices to rise to $3,500 an ounce in the coming months,” he said.

Meanwhile, Saxo Bank head of commodity strategy Ole Hansen stressed: “From a technical point of view, the peak around $3,500 and the strong reversal have increased the risk of a deeper correction in the short term.”

Along with backing off his threat to fire Powell after days of harsh criticism of him for not cutting interest rates, President Donald Trump has hinted at a sharp reduction in tariffs on Chinese imports, which has improved overall financial market sentiment and fueled the dollar’s recovery.

World gold prices continue to fall. Photo: Getty images

Earlier, US Treasury Secretary Scott Bessent said he believed the high tariffs between the US and China would come down before trade talks could resume.

Used as a safe store of value during times of political and financial uncertainty, gold has gained more than 26% since the start of 2025, fueled by central bank buying, concerns about tariff wars and strong investment demand.

The International Monetary Fund (IMF) recently sharply downgraded its growth outlook for the US and the world this year, citing President Trump's tariff policies as the reason for the IMF's downgrade. Concerns about slowing global growth are expected to continue to fuel strong demand for gold. JPMorgan recently predicted that gold prices will surpass $4,000 an ounce next year.

With the domestic gold bar price falling sharply and the world gold price listed at Kitco at 3,290 USD/ounce (equivalent to about 103.7 million VND/tael converted according to Vietcombank exchange rate, excluding taxes and fees), the difference between the domestic and world gold prices is about 15.8 million VND/tael.

TRAN HO HOAI

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