World gold price drops sharply, SJC price falls below 102 million VND/tael

Analysts said the sudden drop in gold came after President Trump announced a new round of import tariffs. The US president has outlined plans to increase tariffs on many of the US’s trading partners, escalating global trade tensions. Canada, China, the European Union and other countries have quickly prepared retaliatory measures, raising concerns about global economic growth and international inflation.

Therefore, the price of gold today turned down after reaching a new record in the previous sessions of nearly 3,160 USD/ounce. Traders said that this price decrease was mainly due to investors taking profits and being required to deposit additional deposits in other assets, leading to selling off gold to cover losses. US gold futures also closed at 3,122 USD/ounce, down 1.4%.

However, the overall trend of gold remains positive, with the precious metal having increased by more than $500 since the beginning of 2025. Currently, global trade tensions are still increasing as US President Donald Trump's reciprocal tax policy will cause investors to seek safe haven gold - which has attracted cash flow since last year, pushing up the price of the precious metal gold.

US President Donald Trump said the administration will impose a 10% base tariff on all imports into the US and higher tariffs on some of the country’s largest trading partners. These supportive factors will continue to support bullion prices, while the current deleveraging frenzy amid heightened volatility will also be felt in gold.

Another factor weighing on gold is a weaker US dollar and rising inflation expectations, which have pushed US real yields lower.
The US Dollar Index (DXY), which measures the greenback against a basket of major currencies, plunged to 102 overnight. The dollar fell against a basket of major currencies, hitting a six-month low against the euro and yen.

Along with the downward trend of international gold, the domestic price of SJC gold bars listed by Saigon Jewelry Company (SJC) is 99.4-101.9 million VND/tael (buy-sell), down about 500,000 VND/tael compared to yesterday. SJC gold rings also decreased to 99.3-101.8 million VND/tael (buy-sell). Transactions on the domestic gold market are also quite quiet due to fluctuations in gold prices.

This morning, the State Bank sharply increased the central exchange rate by 32 VND, to 24,886 VND/USD. Meanwhile, state-owned commercial banks, after raising the USD price to a record high of 26,000 VND yesterday, have sharply adjusted it down this morning.

Specifically, Vietcombank has reduced by 30 VND, buying at 25,580 (cash) - 25,610 VND (transfer), selling at 25,970 VND this morning. Similarly, Vietinbank also sharply reduced the USD selling price from 26,025 VND to 25,955 VND, buying at 25,595 VND. On the contrary, private joint stock commercial banks increased the USD buying price when opening this morning. For example, ACB increased each USD by 20 VND, buying at 25,610 - 25,640 VND, selling at 25,990 VND.

Source: https://baodautu.vn/vang-the-gioi-giam-sau-gia-sjc-ve-duoi-102-trieu-dongluong-d262044.html