International gold exceeds 3,100 USD/ounce, SJC price reaches 104 million VND/tael

Thus, after just one day, international gold increased by more than 110 USD/ounce (equivalent to an increase of 2%) compared to yesterday (April 9). At the same time, according to Kitco, the price of gold for delivery in June 2025 increased to 3,115 USD/ounce.

Financial analysts said that the reason gold increased sharply in the US market session last night was due to the high demand for gold as a safe haven amid the tense global trade war, especially right after the news that China imposed an 84% tax on US goods.

International gold price exceeds 3,100 USD/ounce, SJC gold price reaches 104 million VND/tael.

Even though the US has just issued an order to postpone the application of new tariffs on imported goods from many other countries, the price of precious metals such as gold has still skyrocketed.

Specifically, the latest development is that US President Donald Trump announced a 90-day delay in imposing reciprocal tariffs on many countries. The US leader also announced that he would increase tariffs on Chinese goods to 125%. Escalating trade tensions have investors worried that China and Japan could dump US bonds, causing bond values to plummet and increasing instability in the bond market. In response to these concerns, demand for holding precious metals has skyrocketed, pushing gold prices up.

Financial analysts also predict that if gold regains the $3,100/ounce mark, it could rise to $3,200/ounce as it recently did. Conversely, if it remains below $3,000, it could slide to $2,930/ounce.

Gold, often seen as a safe haven in times of political and financial uncertainty, has gained 19% so far this year. Deutsche Bank has raised its average gold price forecasts for 2025 and 2026 to $3,139 an ounce and $3,700, respectively, largely due to recent global economic and geopolitical developments, significantly higher than its previous forecasts of $2,725 an ounce and $2,900 an ounce.

In fact, gold has always been seen as a hedge against uncertainty and is considered a safe investment during times of political instability, trade wars and economic recession. The price of this precious metal has skyrocketed in 2025, reaching a record high of $3,167 on April 3, 2025, thanks to strong demand for safe havens and central bank buying.

In contrast to the rising trend of gold, the health of the US dollar weakened in the US market session last night. The USD-Index fell to 102.7 points after a slight increase two days earlier. Currently, investors are betting on the US Federal Reserve (Fed) cutting USD interest rates at the end of May 2025 and thus the precious metal will have a chance to increase in price, because according to the principle of a decrease in US dollar interest rates, gold will increase. However, policymakers expressed concern that President Donald Trump's trade policy could negatively affect economic growth. However, the Fed still signaled that it would not rush to cut interest rates to support the economy.

The domestic gold bar price increased by about 2 million VND/tael compared to yesterday morning when SJC Company listed the opening price of gold bars this morning at 104-103.4 million VND/tael (buy-sell). At the same time, the price of gold rings was also listed at 100-103.1 million VND/tael. With the international gold price this morning converted according to Vietcombank 's exchange rate, it is equivalent to about 97 million VND/tael, lower than the domestic gold bar price by over 6 million VND/tael.

Although gold is on an upward trend, analysts also recommend that investors should be cautious, because this precious metal has increased too much in recent times, so investors' demand for profit-taking is currently higher than the purchasing power in the market. Because of concerns that when gold prices have increased too quickly, it will be difficult to avoid a downward reversal, increasing risks, especially when gold traders widen the buying and selling margin to 3 million VND/tael, pushing risks to gold buyers.

But not only is gold "hot" but the exchange rate has also increased to the ceiling in recent days due to the pressure of the global trade war, but has decreased slightly in this morning's session. This morning (April 10), the central exchange rate announced by the State Bank was 24,964 VND/USD, up 28 VND compared to the 24,936 VND/USD listed yesterday morning.

Meanwhile, the USD price at commercial banks has decreased compared to the sharp increase after surpassing 26,100 VND/USD for the first time yesterday. Specifically, this morning Vietcombank listed 25,640 - 26,000 VND/USD (buy-sell), down 152 VND for buying and 182 VND for selling (yesterday, the listed exchange rate at Vietcombank was 25,792 VND for buying and 26,182 VND for selling).

Source: https://baodautu.vn/vang-quoc-te-vuot-3100-usdounce-gia-sjc-tien-toi-104-trieu-dongluong-d265322.html