At 8:49 a.m. today (April 16, Vietnam time), the world spot gold price was at 3,265.1 USD/ounce, up 44.1 USD/ounce compared to last night's close. The price of gold futures for June 2025 on the Comex New York floor was at 3,283.2 USD/ounce.

Early this morning, SJC Company listed the price of gold rings of type 1-5 at only 105.8-108.8 million VND/tael (buy - sell), an increase of 2.8 million VND/tael in both buying and selling compared to yesterday's closing price.

Doji Gold and Gemstone Group also raised the price of 9999 gold rings to 104.8-107.8 million VND/tael (buy - sell), an increase of 1.6 million VND per tael for buying and 1.3 million VND per tael for selling compared to yesterday's closing price.

This afternoon, SJC gold price jumped to 111 million VND/tael for selling and 108.5 million VND/tael for buying.

Gold is the most expensive asset class ever relative to the long-term U.S. bond market, with prices up nearly 25% this year on central bank demand, ETF inflows and macroeconomic uncertainty, said Mike McGlone, senior commodity strategist at Bloomberg Intelligence.

While gold prices have soared, Bitcoin and stocks have plummeted. McGlone said the U.S. stock market has lost $6 trillion in market capitalization this year and warned of further declines. Last year, the market gained $12 trillion, the largest in history.

The S&P 500 could fall to 4,000 points, down nearly 25% from its recent level, if a US recession occurs. The US stock market is now at its highest level in a century relative to the rest of the world and relative to US GDP.

Bitcoin may have also peaked, especially with ETF inflows falling and the gold/Bitcoin ratio deteriorating. However, it remains a highly volatile speculative asset that is just starting to trend down. “Some people are saying this is a buy dip,” said Mike McGlone. “I don’t think it is.”

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Experts predict gold prices will increase. Photo: Chi Hieu

Meanwhile, China's 10-year bond yield is 1.66%. The US 10-year bond yield is 4.4%. There are signs of global deflation, especially from China and Germany. Mike McGlone predicts US bond yields will fall this year.

When asked where the money will go, he said investors will buy gold.

What will the price of gold be at the end of the year and next year?

Mike McGlone commented that the gold price exceeding 3,200 USD/ounce may just be the beginning of a strong increase phase, towards 4,000 USD/ounce.

He said the increased demand for safe havens as Bitcoin and the US stock market tumbled has supported gold prices, with the current base level at $3,000 an ounce. “$4,000 an ounce is just a matter of time for gold,” he said.

Meanwhile, Goldman Sachs raised its year-end gold price forecast to $3,700 an ounce this week and predicted that gold prices could surge to $3,900 an ounce during a recession.

Goldman Sachs even predicts gold prices will hit $4,000 an ounce by mid-2026.

Demand from central banks is far exceeding previous forecasts, as recession fears and geopolitical risks continue to loom over the global economy, according to Goldman Sachs.

According to the World Gold Council (WGC), global central banks bought 24 tons of gold in the month.

The largest central banks buying were the National Bank of Poland (29 tonnes), the People's Bank of China (5 tonnes) and the Central Bank of Türkiye (3 tonnes).

Gold price today April 16, 2025 increased sharply by millions of dong, what is the target for SJC? Gold price today April 16, 2025 on the international market skyrocketed and is not far from the historical peak set last weekend. SJC gold and gold rings increased sharply, setting a new record. Gold shops 'sold out', selling out in small drops.

Source: https://vietnamnet.vn/bitcoin-chung-khoan-chao-dao-gia-vang-sap-toi-ra-sao-2391613.html