Gold prices increased sharply on the morning of April 10, exceeding 103 million VND/tael

Gold prices today, April 10, increased sharply, the highest in history.

Opening the morning session, the price of gold rings traded at Bao Tin Minh Chau was at 100.5 - 103.5 million VND/tael (buy - sell), an increase of 600,000 VND/tael for buying, and an increase of 1,500,000 VND for selling compared to the closing price yesterday.

Meanwhile, at DOJI Gold and Gemstone Group Joint Stock Company, plain round rings are traded at around 100.4 - 103.4 million VND/tael (buy - sell). At Phu Quy Gold Investment Joint Stock Company, gold rings are traded at 100 - 103.5 million VND/tael (buy - sell).

At Saigon Jewelry Company Limited, SJC listed the price of SJC gold bars at 100.4 - 103.4 million VND/tael (buy - sell), an increase of 700,000 VND/tael for buying and an increase of 1,500,000 VND/tael for selling compared to the closing price yesterday.

Domestic gold prices today are trading at a historic peak. The difference between buying and selling prices of domestic gold is quite high, more than 3 million VND/tael, pushing the risk of short-term losses to gold buyers.

Early morning of April 10 (Vietnam time), the world gold price was trading at 3,100 USD/ounce, an increase of more than 100 USD/ounce in the past 24 hours. If converted according to Vietcombank exchange rate, each tael of world gold costs about 98 million VND/tael. Thus, the domestic gold price is still more than 5 million VND/tael higher than the world gold price.

According to banking and finance experts, domestic gold prices are closely following the movements of world gold prices. Gold prices increased by 3% on April 9 (Washington time) and recorded the best day in many years, supported by money flowing into safe havens amid escalating US-China trade tensions.

This morning (Vietnam time), US President Donald Trump announced a 90-day delay in imposing reciprocal tariffs on many countries. However, the US leader also announced that he would increase tariffs on Chinese goods to 125%. This further raised concerns about rising inflation and hindering economic growth, prompting investors to seek gold.

Meanwhile, according to the minutes of the latest meeting of the US Central Bank, the US Federal Reserve (Fed) policymakers unanimously warned of the risks of higher inflation and slower growth. Investors are waiting for the US consumer price index (CPI) report due to be released on Thursday (Washington time) for more clarity on the above warnings. According to forecasting tools, the possibility of an interest rate cut is increasing, which will benefit the yellow metal.

Financial experts note that domestic gold buyers at this time need to closely monitor the market before deciding to buy, because the current buying-selling gap is high, pushing risks to the gold buyer. In addition, when the demand for gold increases and the quantity sold is limited, there will be fraud and fake gold sales for profit.

Source: https://baothainguyen.vn/kinh-te/202504/gia-vang-sang-104-dong-loat-tang-manh-vuot-103-trieu-dongluong-8590b98/