SJC gold bar price peaked at nearly 115 million VND/tael

International gold prices increased sharply, pushing the domestic SJC gold bar price to a new record of nearly 114 million VND/tael in the early afternoon of April 16 when Saigon Jewelry Company (SJC) listed it at 111.4-113.9 million VND/tael (buy - sell), an increase of nearly 5 million VND/tael compared to yesterday and an increase of 11 million VND/tael in just the past week.

This is a recent record increase of SJC gold bars, in just one morning the price of gold increased by 4 million VND/tael. The price of gold rings also increased to 110.2-113.3 million VND/tael (buy-sell), but compared to gold bars, the price of gold rings still increased more slowly.

SJC gold bar price peaked at nearly 115 million VND/tael when international gold price reached nearly 3,300 USD/ounce.

However, analysts warn that once gold prices increase too much, it will be difficult to avoid a reversal.

According to Dr. Nguyen Tri Hieu, a finance and banking expert, the gold price may fall because investors will have a profit-taking period. The gold price is anchored very high and from this point on, investors' profit-taking may happen at any time. This means that the gold price may fall at any time. It is predicted that the gold price may fall below 2,900 USD/ounce in the short term of 1-2 weeks.

However, the current heat of international gold has caused domestic gold bar prices to continuously increase.

Financial analysts say that the reason why the world gold price has increased sharply in the past two days is due to the weak USD and tariff instability. Gold is considered a safe haven in the context of the uncertain tariff plan of US President Donald Trump, which makes investors worried. Central banks around the world increase their gold purchases. In addition, the weaker USD also supports the gold market.

The health of the US dollar weakened as the USD-Index remained at 99.93 points this morning, not yet regaining the 100-point threshold. The US greenback has been almost flat since the beginning of the week after a strong sell-off last week. At the same time, the financial market predicts that the US Federal Reserve (Fed) will continue to cut interest rates in June 2025 after pausing the cut earlier this year, and many forecasts suggest a total rate cut of 1% this year.

This has pushed the price of the precious metal gold up recently. The increase in gold prices partly reflects the prolonged weakness of the USD. Gold is considered a safe haven asset in times of political and financial instability. Gold prices have increased by more than 20% since the beginning of 2025 and have reached record highs many times.

With the US dollar and the global trade war escalating, financial analysts say the price of the precious metal gold has room to rise. Goldman Sachs says central bank demand for gold could average 80 tonnes per month this year, up from their previous estimate of 70 tonnes. Experts say the increased risk of a recession will prompt increased purchases of gold ETFs.

Goldman Sachs analysts said that recent trading activity shows that investors are seeking refuge amid rising recession risks and falling prices for risky assets. Currently, Goldman Sachs forecasts a 45% chance of a U.S. recession in the next 12 months. If this scenario occurs, gold ETFs will accelerate purchases and push prices to $3,880/ounce by the end of 2025.

Source: https://baodautu.vn/gia-vang-mieng-sjc-lap-dinh-gan-115-trieu-dongluong-d268786.html