Illustration photo. Photo: Internet
Opening the trading session this morning, Saigon Jewelry Company Limited listed the buying and selling prices of SJC gold bars at 117 - 120 million VND/tael, an increase of 1.5 million VND/tael for buying and 2 million VND/tael for selling compared to the end of yesterday. This is the first time the price of gold bars has reached this record level in the domestic market.
At Bao Tin Minh Chau system, plain round gold rings are being traded at 116.5 - 119.5 million VND/tael (buy - sell), increasing by 1.5 million VND/tael in both directions compared to the previous session.
The price of plain round rings of DOJI Gold and Gemstone Group Joint Stock Company is currently fluctuating around 114.5 - 118 million VND/tael, while Phu Nhuan Gold and Gemstone Joint Stock Company is listed at 114 - 117 million VND/tael.
Currently, the difference between the buying and selling price of domestic gold fluctuates around 3 million VND/tael, increasing the risk of short-term losses for individual investors when buying gold.
On the international market, on the morning of April 18, Vietnam time, the gold price briefly dropped below the threshold of 3,300 USD/ounce due to profit-taking pressure, but then quickly bounced back to the 3,326 USD/ounce mark at 9:00 a.m. If converted according to Vietcombank exchange rate, the world gold price is equivalent to about 104.1 million VND/tael.
Compared to international prices, SJC gold bars are about 16 million VND/tael higher. Domestic gold rings are 13 to 15 million VND/tael higher, depending on the brand.
Banking and finance experts said that the sharp increase on April 17 was due to concerns about US President Donald Trump’s new tariff policy. After that, many investors took advantage of the opportunity to take profits, but the decline did not last long because the US dollar weakened and trade tensions continued to escalate.
Regarding monetary policy, at a conference this week, Fed Chairman Jerome Powell said: "The US Central Bank will wait for more data before making a decision on interest rates", and he warned: "President Trump's tariff policy risks pushing inflation further away from the Central Bank's target".
Domestically, the demand for gold hoarding has increased sharply while supply is limited, forcing many gold businesses to temporarily stop selling or only supply in limited quantities, pushing gold prices even higher. Experts warn people to closely monitor the market before buying gold, as the current gap between buying and selling prices is high and poses great risks. At the same time, when demand increases while supply is limited, the risk of fraud and selling fake gold can also occur.
Cao Thong (t/h)
Source: https://doanhnghiepvn.vn/kinh-te/gia-vang-ngay-18-4-2025-tiep-tuc-tang-manh-lan-dau-vuot-moc-120-trieu-dong-luong/20250418093249282
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