Gold price on the afternoon of April 9, 2025: Domestic and world gold prices increased to a record high as the US began to impose new taxes

Domestic gold price on April 9, 2025

At the time of survey at 4:30 p.m. on April 9, 2025, domestic gold prices increased to a record high. Specifically:

DOJI Group listed the price of SJC gold bars at 99.7-101.9 million VND/tael (buy - sell), an increase of 2 million VND/tael for buying - an increase of 1.7 million VND/tael for selling compared to yesterday.

At the same time, the price of SJC gold bars was listed by Saigon Jewelry Company Limited - SJC at 99.7-101.9 million VND/tael (buy - sell), an increase of 2 million VND/tael in buying price - an increase of 1.7 million VND/tael in selling price compared to yesterday.

At Mi Hong Jewelry Company, the price of Mi Hong gold at the time of survey was listed at 100.2-101.5 million VND/tael for buying and selling. Compared to yesterday, the gold price increased by 800 thousand VND/tael for buying and 1.1 million VND/tael for selling compared to yesterday.

SJC gold price at Bao Tin Minh Chau Company Limited is traded by businesses at 99.8-101.9 million VND/tael (buying - selling, gold price increased by 2 million VND/tael in buying direction - increased by 1.7 million VND/tael in selling direction compared to yesterday.

SJC gold price at Phu Quy is traded by businesses at 98.9-101.9 million VND/tael (buy - sell), gold price increased by 1.2 million VND/tael in buying direction - increased by 1.7 million VND/tael in selling direction compared to yesterday.

As of 4:30 p.m. today, the price of 9999 Hung Thinh Vuong round gold rings at DOJI is listed at 99.7-101.9 million VND/tael (buy - sell); an increase of 2 million VND/tael in the buying direction - an increase of 1.7 million VND/tael in the selling direction compared to yesterday.

Bao Tin Minh Chau listed the price of gold rings at 99.9-102 million VND/tael (buy - sell); increased by 1.9 million VND/tael for buying - increased by 1.7 million VND/tael for selling.

The latest gold price list on the afternoon of April 9, 2025 is as follows:

World gold price on the afternoon of April 9, 2025 and chart of world gold price fluctuations in the past 24 hours

According to Kitco, the world gold price recorded at 4:30 p.m. today, Vietnam time, was 3,043.7 USD/ounce. Today's gold price increased by 36.21 USD/ounce compared to yesterday. Converted according to the USD exchange rate on the free market (26,250 VND/USD), the world gold price is about 97.38 million VND/tael (excluding taxes and fees). Thus, the price of SJC gold bars is 1 million VND/tael higher than the international gold price.

Global gold prices rose sharply as the US dollar weakened after US President Donald Trump's tariffs on Chinese goods officially took effect. Many investors rushed to buy gold as a safe-haven asset amid concerns about recession and global trade tensions.

US gold futures rose 2.2% to $3,056.60. The weaker dollar makes gold cheaper for foreign investors.

Mr Trump raised tariffs on Chinese imports to 104% in response to Beijing's sanctions, accusing China of manipulating its currency to reduce the impact of the tariffs. China has refused to budge, calling the move "bullying" and vowing to "fight to the end". The new tariffs officially took effect at 12:01 a.m. ET (4:01 GMT) as planned.

However, gold's gains were somewhat limited as the yield on 10-year US government bonds hit its highest level in more than a month.

According to the World Gold Council, gold exchange-traded funds (ETFs) recorded their largest inflows in three years in the first quarter of 2025. Central banks around the world are expected to continue buying gold. The goal is to diversify foreign exchange reserves and reduce dependence on the US dollar, especially in the context of the economic policies of the Trump administration.

"The Fed is likely to maintain its stance, continuing to cautiously monitor inflation risks rather than growth risks," said Kelvin Wong, Asia-Pacific market analyst at OANDA.

Besides gold, silver rose 1.3% to $30.23 an ounce, while platinum held steady at $921.62. Palladium also rose slightly by 0.9% to $914.73.

Gold Price Forecast

The world gold price is expected to fluctuate strongly due to the influence of many economic and geopolitical factors. However, the price trend may change depending on the development of the trade war between the US and other countries, especially China.

Retaliatory tariffs between countries are raising concerns in the market. In addition, the market is also waiting for important economic data from the US, such as the FOMC meeting minutes, CPI and PPI indexes. This information will directly affect interest rate expectations, thereby strongly affecting gold prices.

If inflation figures remain high or the Fed signals caution in cutting interest rates, gold could fall below $3,000 an ounce. Conversely, if inflation cools or the Fed leans toward a looser monetary policy, gold could rally and head toward $3,100 an ounce.

In addition, declines in other markets such as stocks, cryptocurrencies and oil could also put pressure on gold to correct. Many experts predict that gold prices will fluctuate in the range of $2,960–3,100/ounce in the short term. However, profit-taking activities from large investment funds could also cause unexpected price drops.

Standard Chartered Bank expert Suki Cooper recently raised her forecast for the average gold price in the second quarter of 2025 to $3,300 an ounce, instead of $2,900 as before. She said the gold market is being supported by the weakening of the US dollar due to concerns about trade tensions.

Bank of America strategist Michael Widmer recently raised his gold price forecast to $3,063 in 2025 and $3,350 in 2026. He even believes that gold could hit $3,500 within the next two years. However, he acknowledged that $3,500 is a challenging target, as the conditions for gold to maintain its current strong rally require a lot of persistent uncertainty.

Although gold has occasionally stalled, the overall trend is still toward new record highs, thanks to uncertainty over the global economy and inflation, according to KCM Trade expert Tim Waterer. However, he also noted that gold's rally is being somewhat restrained by the yield on the 10-year US government bond, which is at its highest level in more than a month.