Gold price on April 23: SJC sets new peak, reaching 124 million VND/tael

Illustration photo. Photo: Internet

Domestic gold price

The domestic market has witnessed the price of gold bars continuing to maintain an impressive upward trend. The current price recorded that gold of all brands was bought at 122 million VND/tael, while the selling price reached 124 million VND/tael.

In terms of buying, the purchase price at Bao Tin Minh Chau and Phu Quy SJC is 1.5 million VND and 2 million VND lower, respectively, than the remaining brands.

On the contrary, the selling price of Phu Quy SJC and Bao Tin Minh Chau gold is also lower than the market, at 1 million VND and 1.5 million VND/tael, respectively.

Similar to the gold bar market, the price of gold rings of major brands has also been adjusted to increase significantly.

Specifically, SJC 9999 gold ring increased by 3 million VND for buying and 5.5 million VND for selling, up to 116 million VND/tael and 119 million VND/tael.

In Hanoi and Ho Chi Minh City, the DOJI system increased the buying price by 3.7 million VND and increased the selling price by 2 million VND, reaching 117.2 million VND/tael for buying and 119 million VND/tael for selling.

With the PNJ brand, the price of gold rings is currently listed at 117 million VND/tael for buying and 120 million VND/tael for selling, corresponding to an increase of 3.5 million VND and 3.1 million VND in both directions.

At Bao Tin Minh Chau, the price of plain round gold rings has been adjusted to 119 million VND/tael for buying and 122 million VND/tael for selling, up 4.5 million VND and 4 million VND respectively.

Phu Quy SJC is currently 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 of transaction.

World gold price

Data from Kitco shows that at 5 a.m. this morning, Vietnam time, the global spot gold price reached 3,330.6 USD/ounce. Compared to yesterday's session, the price decreased by 94.8 USD.

After converting at the free exchange rate of 26,378 VND/USD, the world gold price is equivalent to about 109 million VND/tael, excluding taxes and fees. Thus, the difference between SJC gold and the world price is 15 million VND/tael.

Yesterday, the international gold price turned down sharply, losing more than 90 USD after reaching a peak of 3,500 USD/ounce earlier in the day.

The main reason came from positive sentiment towards the stock market and the recovery of the USD, when US Treasury Secretary Scott Bessent signaled that US-China trade tensions could ease.

The sell-off came as comments from the US Treasury Secretary hinted at a possible easing in trade tensions, said Bob Haberkorn, senior strategist at RJO Futures.

On Tuesday, Mr. Bessent said he hoped “there will be a de-escalation” in the US-China tariff war in the “very near future.”

Shortly after the announcement, US stocks rose more than 2% and the US dollar reversed course to rise. At the same time, the US Dollar Index also rose 0.7%, making gold more expensive for investors using other currencies.

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

Earlier, at the beginning of the trading session, spot gold recorded its 28th peak when it first reached the 3,500 USD/ounce mark.

Despite the sharp decline in prices during the session, JPMorgan bank remained optimistic and predicted that the upward trend will continue. Forecasts show that gold could surpass the $ 4,000 / ounce mark next year, amid growing recession concerns, high US tariffs and persistent US-China trade tensions.

Investors are now paying attention to upcoming statements from many officials of the US Federal Reserve (Fed), hoping to reveal important information about the future direction of monetary policy amid concerns about the independence of the central bank.

Cao Thong

Source: https://doanhnghiepvn.vn/kinh-te/gia-vang-ngay-23-4-sjc-lap-dinh-moi-dat-muc-124-trieu-dong-luong/20250423085446050