At noon on April 15, the domestic gold price increased by several hundred thousand dong per tael compared to early this morning. Saigon Jewelry Company (SJC) listed the price of gold bars at 105.5 - 108 million dong. For plain gold rings, SJC raised the price to 102.5 - 105.5 million. Bao Tin Minh Chau also increased the price of plain rings to 103.9 - 106.9 million dong per tael this afternoon.

Earlier, at the opening of the day, SJC listed the price of gold bars at 105.2 - 107.7 million VND, an increase of 700,000 VND per tael compared to the end of yesterday. The selling price of gold bars at state-owned banks at the same time was up to 107.7 million VND per tael.

Plain rings increased at a lower amplitude, but some brands also raised their prices to nearly 106 million VND. Specifically, Phu Nhuan Jewelry Company (PNJ) listed 102.3 - 105.5 million, an increase of about 300,000 VND per tael. Meanwhile, Bao Tin Minh Chau announced the price of plain rings at 102.6 - 105.9 million VND.

The price of domestic gold bars has increased faster than that of plain rings in recent days, so each tael is now 1.7 - 3 million VND more expensive.

In the international market, the price of gold is around 3,221 USD per ounce, about 20 USD lower than the peak. Converted according to Vietcombank's selling rate, each tael of world gold is equivalent to 101.2 million VND, 6.5 million VND lower than the domestic price.

Goldman Sachs has just predicted that gold prices could reach $4,000 next year, thanks to buying power from central banks and ETFs in the face of recession risks.

Analysts at Goldman Sachs said central bank gold demand could rise to an average of 80 tons per month this year, up from their previous estimate of 70 tons. Rising recession risks will also boost buying in gold ETFs.

"Recent trading activity suggests that investors are seeking refuge amid rising recession risks and falling risk asset prices," Goldman Sachs said. The bank now sees a 45% chance of a US recession in the next 12 months. If that scenario plays out, "gold ETFs would accelerate their purchases, pushing prices to $3,880 by the end of the year."