In just one day, the domestic gold price increased "crazily" from 7.5 to 8 million VND/tael, making many people restless. Surprisingly, the domestic increase was stronger than the world gold price, causing the domestic gold price to be 12 million VND/tael higher than the world price.

Crazy for gold

At 5:00 p.m. on April 16, Saigon Jewelry Company listed SJC gold bar price 113 - 115.5 million VND/tael, up 7.5 million VND/tael compared to early morning.

Today, the price gold bar SJC at this company adjusted up 8 times, making many people "dizzy". SJC gold price continuously record breaking hourly makes many people restless.

Although the increase in gold prices was predicted, many people were still surprised and regretful at the rapid pace of this precious metal. Since the beginning of the year, the price of SJC gold bars has increased by about 25 million VND/tael. This is the strongest increase in the past 10 years.

Price gold ring also had a day of crazy price adjustments, at one point the price of gold rings was equal to the price of gold bars. However, by the end of the afternoon the price of gold rings had a slower increase. Specifically, Bao Tin Minh Chau Company Limited listed the price of gold rings at 112-115 million VND/tael, an increase of 8 million VND/tael compared to early morning.

Currently, the price of gold rings is only half a million VND/tael lower than that of gold bars.

Many investors regret "stupidly" because take profit gold at the price of 100 million VND/tael and could not buy back the gold sold, while the price had exceeded 115 million VND/tael.

Many investors with savings that they did not have time to withdraw missed the opportunity to buy gold. "When the gold price was around 101 million VND/tael, I intended to withdraw my savings to buy, but I felt sorry for the interest I had on my deposit so I hesitated to buy. Looking at today's gold price list, I keep regretting it," said Ms. Mai Hoa (in Dong Da, Hanoi).

At many gold shops on Tran Nhan Tong Street, Cau Giay (Hanoi), people still queue up even though they can only buy 1 tael per day.

Today, when the price of gold is at its peak, the "black market" is more difficult because many people want to buy but many parties do not have gold to sell. On the other hand, the "gold collecting" team is willing to pay a higher price than the listed price from 1-3 million VND/tael.

The "crazy" gold domestic Surprisingly, the world gold price, despite reaching a peak, only increased by 62 USD/ounce (equivalent to nearly 1.7 million VND/tael) during the day. Accordingly, the world gold price is listed at 3,304 USD/ounce, or about 103.5 million VND/tael.

With the increase in domestic prices, SJC gold is currently higher than the world 12 million VND/tael. This gap repeats history when Bank The state has not intervened in the price of SJC gold bars since mid-2024.

People should calmly observe the market.

Talk to PV Tien Phong , Mr. Nguyen Quang Huy - financial expert, Nguyen Trai University - said that today marked a price jump that shocked many people and professional investors. SJC gold price reached a new peak of 115.5 million VND/tael - the highest level ever. This price increase is the result of a combination of many factors intertwined between the international market and domestic psychology.

Specifically, the price of gold world exceeded 3,200 USD/ounce, strongly promoting the domestic increase. The reason for the sharp increase in world gold prices is: Political and military tensions in the Middle East; risk of economic recession in some major economies, especially Europe and Japan; Central banks of many countries continue to net buy gold to prevent systemic risks and reduce dependence on the USD; trade tensions between the US and China and major economies, tit-for-tat tariffs add to global economic uncertainty.

“In the above context, gold has become the leading safe haven asset, strongly sought after by investors, financial institutions and even the government,” Mr. Huy said. Supply is not enough to meet demand, combined with "crowd" psychology, pushing prices up sharply.

According to Mr. Huy, the supply of SJC gold is scarce, while the demand for buying is increasing rapidly. The sharp increase in the difference between domestic and international gold prices reflects a clear imbalance between supply and demand. The “FOMO” (fear of missing out) mentality has caused many people to rush to buy gold during the period of strong price increases, unintentionally adding fuel to the price increase wave.

“The gold market never goes in a straight line. Prices can increase sharply in the short term, but can also easily adjust when the following factors occur: Market sentiment changes, regulatory policies intervene to stabilize prices, and profit-taking selling pressure. increase from international financial institutions. Therefore, people need to stay calm, carefully observe market developments and not follow the crowd mentality," Mr. Huy analyzed.