Gold price today April 24, 2025: Domestic and world gold prices continuously dropped sharply to nearly 110 million

Domestic gold price today April 24, 2025

At the time of survey at 4:30 a.m. on April 24, 2025, the domestic gold price dropped sharply to below 120 million, and it is forecasted that today's gold price will continue to drop to near the 100 million mark. Specifically, the gold price early this morning:

DOJI Group listed the price of SJC gold bars at 116.5-119.5 million VND/tael (buy - sell), a sharp decrease of 5.5 million VND/tael in buying - a decrease of 4.5 million VND/tael in selling compared to yesterday.

At the same time, the price of SJC gold bars was listed by Saigon Jewelry Company Limited - SJC at 116.5-119.5 million VND/tael (buy - sell), a sharp decrease of 5.5 million VND/tael in buying - a decrease of 4.5 million VND/tael in selling compared to yesterday.

At Mi Hong Jewelry Company, the price of Mi Hong gold at the time of survey was listed at 116.5-119.5 million VND/tael for buying and selling. Compared to yesterday, the gold price decreased by 5 million VND/tael for both buying and selling compared to yesterday.

SJC gold price at Bao Tin Minh Chau Company Limited is traded by businesses at 116.5-119.5 million VND/tael (buying - selling), down 4 million VND/tael in buying - down 3 million VND/tael in selling compared to yesterday.

SJC gold price at Phu Quy is traded by businesses at 116.5-119.5 million VND/tael (buy - sell), gold price decreased 3.5 million VND/tael in both buying and selling directions compared to yesterday.

As of 4:30 a.m. today, the price of 9999 Hung Thinh Vuong round gold rings at DOJI is listed at 112.5-115.3 million VND/tael (buy - sell); the gold price decreased by 4.7 million VND/tael in buying - decreased by 3.7 million VND in selling compared to yesterday.

Bao Tin Minh Chau listed the price of gold rings at 115-118 million VND/tael (buy - sell); down 4 million VND/tael in both buying and selling directions compared to yesterday.

The latest gold price list today, April 24, 2025 is as follows:

World gold price today April 24, 2025 and world gold price fluctuation chart in the past 24 hours

According to Kitco, the world gold price recorded at 4:30 am today, Vietnam time, was at 3,275.15 USD/ounce. Today's gold price decreased by 156.48 USD/ounce compared to yesterday. Converted according to the USD exchange rate at Vietcombank (26,141 VND/USD), the world gold price is about 104.22 million VND/tael (excluding taxes and fees). Thus, the price of SJC gold bars is 15.28 million VND/tael higher than the international gold price.

The world gold price fell sharply by 4.56% after hitting an all-time high of 3,500.05 USD/ounce, as investors continued to take profits. The reason was that US President Donald Trump lowered his voice, declaring that he had no plans to fire Fed Chairman Jerome Powell, and at the same time said that there was progress in tariff negotiations with China. The price of gold futures in the US also fell by 2.9% to 3,320.4 USD.

According to Phillip Streible, market strategist at Blue Line Futures, the market is gradually reacting more positively after the tariff shock. Investors tend to withdraw money from gold and return to investment categories such as stocks, securities, commodity exchanges.

In addition, the world gold price fell sharply after the latest data showed that the US housing market improved beyond expectations in March. The US housing market is one of the important factors driving economic activity. Recently, this sector has encountered many difficulties due to the Fed's strongest interest rate increase in 40 years, pushing up house prices to expensive levels, making it impossible for many people to buy.

Specifically, about 724,000 new homes were sold in March (on a seasonally adjusted annual basis), far exceeding analysts' expectations of 680,000. New home sales in March increased 7.4%, much higher than the forecast of 0.2%. A marked improvement from the 1.8% increase in February.

According to the latest report from S&P Global, the preliminary PMI (measurement of service activity) fell to 51.4 points from 54.4 points in March, lower than the forecast of 52.8 points by analysts. This is the lowest level in the past two months, showing that service activity is slowing.

The manufacturing sector showed some improvement as the preliminary PMI rose slightly to 50.7, marking a two-month high. The composite index, which covers the entire economy, came in at 51.2, a 16-month low.

Normally, such a low PMI would send investors rushing to buy gold. However, the reality is different as the market is witnessing a strong sell-off after gold prices hit a historic peak of $3,500/ounce the day before.

Technically, the drop in gold prices after hitting a peak of $3,500 suggests a deeper correction in the short term, but current support around $3,292 (0.382 Fibonacci retracement) suggests this is just a minor pullback in a strong uptrend, according to Saxo Bank expert Ole Hansen.

Meanwhile, silver rose 1% to $32.83 an ounce, platinum rose 0.9% to $967.61 and palladium also edged up 0.6% to $941.04.

Gold price forecast

Chris Williamson, chief economist at S&P Global Market Intelligence, said the April PMI data showed the US economy slowing significantly as it entered the second quarter. This situation should have supported gold prices, but in reality, the market was focused on profit-taking after the recent strong price increase.

Sharing the same view, FXTM expert Lukman Otunuga predicts that gold may enter a correction and fall back to the $3,250 or even $3,140 price zone. However, if the price holds the $3,300/ounce mark, the opportunity to recover to the $3,400 and higher zone is still very possible.

Gold prices are currently under profit-taking pressure, especially with the strong recovery in the US stock market, said Kitco expert Jim Wyckoff. According to him, the recent price volatility could be a sign that the strong gold bull cycle is approaching its peak, at least in the short term.

Wong said there is still no clear sign that the gold rally has ended. Therefore, in the near future, the possibility of gold recovering is entirely possible.

Technically, the June gold futures bulls still have the upper hand but are weakening. Their next target is to push the price above the strong resistance at the high of $3,509.90. Meanwhile, the bears are aiming to push the price below the support level of $3,200. The nearest resistance levels are at $3,350 and $3,396, while support is at $3,302.60 and $3,300.

Despite the fall in gold prices, analysts say there is still potential for long-term upside, especially if risk factors such as inflation and economic uncertainty continue to rise. JP Morgan predicts gold prices could surpass $4,000 an ounce by 2026.

Specifically, JP Morgan believes that the average gold price in the fourth quarter of 2025 will reach about $3,675/ounce. Then, in the second quarter of 2026, gold could surpass the $4,000/ounce threshold if actual demand continues to increase more strongly than expected.

According to JP Morgan experts, the main factor supporting this trend is the steady flow of money from investors and central banks, with average purchases reaching about 710 tons per quarter in 2025. However, the bank also warned that if central banks suddenly cut demand for gold, this could be the biggest risk that the increase will be interrupted.

In addition, if the US economy remains stable despite the tariff policies, the US Federal Reserve (Fed) may take more drastic actions to prevent inflation. At that time, the expectation of interest rate hikes will return sooner than expected, creating downward pressure on gold prices.