Gold price on the afternoon of April 7, 2025: World gold price drops to nearly 3000 USD

Domestic gold price on April 7, 2025

At the time of survey at 3:30 p.m. on April 7, 2025, domestic gold prices did not fluctuate because today is the Hung Kings' Commemoration Day holiday. Specifically:

The price of SJC gold bars listed by DOJI Group is at 97.1-100.1 million VND/tael (buy - sell), the price remains unchanged in both buying and selling directions compared to yesterday.

At the same time, the price of SJC gold bars was listed by Saigon Jewelry Company Limited - SJC at 97.1-100.1 million VND/tael (buy - sell), unchanged in both buying and selling directions compared to yesterday.

At Mi Hong Jewelry Company, the price of Mi Hong gold at the time of survey was listed at 99-100.8 million VND/tael for buying and selling. Compared to yesterday, the gold price decreased by 300 thousand VND/tael for buying - unchanged for selling compared to yesterday.

SJC gold price at Bao Tin Minh Chau Company Limited is traded by businesses at 97.3-100.1 million VND/tael (buying - selling, gold price increased 100 thousand VND/tael in buying direction - unchanged in selling direction compared to yesterday.

SJC gold price at Phu Quy is traded by businesses at 97.3-100.1 million VND/tael (buy - sell), gold price remains unchanged in both buying and selling directions compared to yesterday.

As of 3:30 p.m. today, the price of 9999 Hung Thinh Vuong round gold rings at DOJI is listed at 96.7-100.1 million VND/tael (buy - sell); unchanged in both buying and selling directions compared to yesterday.

Bao Tin Minh Chau listed the price of gold rings at 97.5-100.5 million VND/tael (buy - sell); unchanged in both buying and selling directions.

The latest gold price list on the afternoon of April 7, 2025 is as follows:

World gold price on the afternoon of April 7, 2025 and chart of world gold price fluctuations in the past 24 hours

According to Kitco, the world gold price recorded at 3:30 p.m. today, Vietnam time, was 3,019.61 USD/ounce. Today's gold price decreased by 16.31 USD/ounce compared to yesterday. Converted according to the USD exchange rate on the free market (25,910 VND/USD), the world gold price is about 94.98 million VND/tael (excluding taxes and fees). Thus, the price of SJC gold bars is 5.12 million VND/tael higher than the international gold price.

Gold prices continued to fall sharply in the first trading session of the week, hitting a more than three-week low. But they later narrowed their losses thanks to safe-haven demand and strong buying from central banks. However, many experts remain optimistic about the long-term prospects of gold prices.

Gold prices fell more than 1% at one point, the lowest level since March 13. Meanwhile, US gold futures rose 0.5% to $3,051. Notably, gold fell more than 3% last Friday after US President Donald Trump imposed new tariffs on China, causing shockwaves in global markets.

In response to the US move, China increased tariffs on US goods by 34% and restricted exports of some rare earth metals. "The market is confused because it is unclear whether the conflict will ease, while many believe that a quick resolution is unlikely," said Yeap Jun Rong, a strategist at IG.

Gold is traditionally seen as a safe haven asset, but this time the price of gold has fallen sharply. Experts say investors may be taking profits from gold to cover losses in other portfolios or meet margin calls. Recession fears have wiped out nearly $6 trillion from the US stock market.

However, the People's Bank of China continued to buy gold for its reserves in March - the fifth consecutive month. "Central banks continue to favor gold, which is supportive of the precious metal. The inflows could help gold maintain its long-term upward trend," said Tim Waterer, an analyst at KCM Trade.

"As the market stabilises, central bank demand will help balance gold prices, giving investors confidence to return," said Ole Hansen from Saxo Bank.

While gold prices fell, silver prices rose 2% to $30.13 an ounce after hitting a seven-month low. Platinum and palladium prices also rose slightly to $926.09 and $919.50, respectively.

Gold Price Forecast

Kyle Rodda of Capital.com said the market is in a state of panic, leading to massive sell-offs. While the long-term outlook for gold remains positive, when fear is widespread, the market can become uncontrollable.

Adrian Day, chairman of Adrian Day Asset Management, said gold prices are likely to continue to fall in the short term and could fall below the $3,000/ounce mark in the coming days.

However, he still believes that the long-term trend is up, as the factors that have supported gold prices over the past two years remain intact. In particular, gold demand in North America continues to increase, which is the driving force for prices to recover strongly towards the end of the year.

Marc Chandler, managing director at Bannockburn Global Forex, also said the current sell-off may not be over. He noted that despite the decline in the dollar and interest rates, gold has been sold off along with stocks. In recent sessions, many retail investors appear to view gold as a risk asset rather than a haven.

Chandler warned that if gold breaks the $3,054/ounce level, it could continue to fall to the $3,030 and then $3,000 area. This will be a big psychological test for investors holding gold.

Gold has rallied so quickly in the first quarter that it's difficult to find clear support levels, said Everett Millman of Gainesville Coins.

He predicts that prices could fall to $2,900 or lower if the sell-off continues. This is a decisive stage for the upcoming trend of the gold market.

Quoc Duong