Spot gold prices opened last week at $3,032 an ounce. After several sessions of increasing and decreasing within a narrow range, the world gold price officially surpassed the $3,200 an ounce mark, reaching a record $3,245.28 an ounce on April 11.
US-China tensions have pushed gold prices to a new record high. China's Ministry of Finance announced on April 11 that it would retaliate against US President Donald Trump's reciprocal tariffs by increasing tariffs on US imports from 84% to 125% starting April 12.
Gold prices on the Kitco floor closed the trading week at $3,236/ounce. Gold futures for June 2025 delivery on the Comex New York floor traded at $3,255/ounce.
Overall for the week, gold prices increased by more than 6%.
What will the price of gold be in the future?
Richard Hunter, market director at Interactive Investor, said the world gold price has increased by about 21% since the beginning of the year. Since the beginning of this year, the gold price has continuously conquered new record highs. He believes that the gold price will continue to increase in the coming time.
Fearing that tariffs would fuel inflation and stifle economic growth, investors have pulled capital out of stocks and industrial commodities and into gold.
The main cause is believed to be the policies of US President Donald Trump. According to expert Richard Hunter, market crises are usually the result of many factors combined. However, in this case, “the cause is only one person”. The escalating tariffs, along with strong reactions from US trading partners, have pushed the market into a state of instability.
Widespread recession fears have driven a surge of money into the precious metals market. “What investors are doing is looking for safe havens. They’re hoping they can weather some of these storms,” Hunter said.
In the financial markets, investors can see the particular strength of the Swiss franc, the Japanese yen and the ultimate safe haven asset, gold. A large amount of investor money has flowed into gold.
Bart Melek, head of commodity strategy at TD Securities, said gold remains a hedge against uncertainty. He said tariffs are becoming a problem, pushing up inflation expectations and leading to higher bond yields.
Gold, considered a safe-haven asset in times of political and financial uncertainty, has hit a new record high thanks to safe-haven demand and central bank buying.
Fears of lower US economic growth and high inflation are pushing investors out of the market and into gold, according to the latest research from the World Gold Council (WGC).
The recent rise in gold prices has been driven by uncertainty surrounding US tariff policy and the ongoing trade war, which has increased economic risks and market volatility, the WGC analyzed.
Meanwhile, gold-backed exchange-traded funds (ETFs) continued to buy gold. March data from the WGC showed that these funds added money to gold. North American-listed funds accounted for 61% of total inflows, European market funds accounted for about 22% of demand and Asia accounted for 16%.
A total of 92 tonnes of gold, worth $8.6 billion, flowed into global ETFs last month, while the first quarter of this year saw 226 tonnes of gold, worth $21 billion, in ETFs.
Forecasting the gold price trend in the coming time, WGC believes that the current geopolitical situation increases the trend of gold hoarding and contributes to pushing gold prices to record highs.
Domestic gold price trend
According to experts, domestic gold prices are affected by world market developments.
Speaking with VietNamNet reporter, Associate Professor, Dr. Nguyen Huu Huan said that domestic gold price will increase following world gold price.
“When the gold price was at VND100 million/tael, I predicted that the price could increase to VND110 million/tael. Now, I think the gold price could jump to this level sooner than I predicted. When the gold price was at VND106 million/tael, it only took two strong increases to reach VND110 million/tael.
Therefore, experts believe that the world gold price will increase to the mark of 3,600 USD/ounce this year, which is possible," said Mr. Huan.
At the end of the session on April 12, the price of gold bars at SJC closed at 103-106.5 million VND/tael (buy - sell). The price of 1-5 chi gold rings at SJC was listed at 101.4-104.9 million VND/tael (buy - sell). The price of 9999 gold rings at Doji closed at 101.2-104.8 million VND/tael.
Source: https://vietnamnet.vn/lien-tien-lap-ky-luc-gia-vang-thang-4-se-ra-sao-2390797.html
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