At the end of the "historic" trading week from April 7-13, SJC gold bar prices were listed by businesses at 103-106.5 million VND/tael (buy - sell). This is the highest gold bar trading price ever.

Meanwhile, the closing price of gold rings at the end of the week was listed by Bao Tin Minh Chau at 101.6-105.1 million VND/tael (buy-sell), other famous gold brands also traded near this level. Previously, on April 11, there was a time when gold rings were traded at 102.5-106.4 million VND/tael (buy-sell), the highest in history.

Domestic gold prices increased sharply last week, in line with world gold prices. On the afternoon of April 13, world gold prices were trading around 3,235 USD/ounce, equivalent to 101.2 million VND/tael. Overall for the week, world gold prices increased by more than 6%.

Experts predict gold prices will exceed VND110 million/tael in 2025. Photo: VNA.

Mr. Dinh Nho Bang, Chairman of the Vietnam Gold Business Association, said that there are three main reasons for the recent sharp increase in world gold prices.

First, due to the complicated geopolitical situation, the war between Russia and Ukraine, and conflicts in the Middle East that have not shown signs of cooling down. Second, due to US President Donald Trump's tariff policy, the risk of a trade war is present. Third, in the context of economic recession forecasts, high inflation has boosted the demand for safe haven gold.

According to Dr. Nguyen Tri Hieu, a finance and banking expert, domestic gold prices are closely following the movements of world gold prices. Currently, investors are expecting the US Federal Reserve (Fed) to cut interest rates this year, which will have a positive impact on gold prices in the second half of the year. Domestically, the supply of gold bars and gold rings is limited, while the demand for hoarding is very large, which is the driving force pushing gold prices up.

"I think the 110 million VND/tael of gold mark could happen in 2025 with a probability of about 60% if the world gold market continues to fluctuate as in the past," said Dr. Nguyen Tri Hieu.

Experts also note that gold buyers at this time need to closely monitor the market before deciding to buy, because the current buying-selling gap is quite high, about 3 million VND/tael, pushing the risk to the gold buyer. In addition, when the demand for gold increases, the quantity sold is limited, there will be fraud and fake gold sales for profit.

Mr. Dinh Nho Bang emphasized that the Vietnamese gold market is directly affected by the world gold market, because Vietnam does not produce gold but mainly imports gold. The reasons for the recent sharp increase in world gold prices can be resolved, at which time the gold price will drop sharply.

According to Baotintuc.vn