Gold price this afternoon April 10, 2025: Domestic and world gold prices slightly decreased due to 125% super tax

Domestic gold price on the afternoon of April 10, 2025

At the time of survey at 4:30 p.m. on April 10, 2025, domestic gold prices decreased compared to the morning but still increased sharply compared to yesterday. Specifically:

DOJI Group listed the price of SJC gold bars at 100.6-103.6 million VND/tael (buy - sell), an increase of 900 thousand 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 100.6-103.6 million VND/tael (buy - sell), an increase of 900 thousand VND/tael in buying - an increase of 1.7 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 100.7-102.9 million VND/tael for buying and selling. Compared to yesterday, the gold price increased by 500 thousand VND/tael for buying and 1 million VND/tael for selling compared to yesterday.

SJC gold price at Bao Tin Minh Chau Company Limited is traded by businesses at 100.6-103.6 million VND/tael (buying - selling, gold price increased by 800 thousand 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 100.1-103.7 million VND/tael (buy - sell), gold price increased by 1.2 million VND/tael in buying direction - increased by 1.8 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 100.2-103.2 million VND/tael (buy - sell); an increase of 500,000 VND/tael in the buying direction - an increase of 1.3 million VND/tael in the selling direction compared to yesterday.

Bao Tin Minh Chau listed the price of gold rings at 100.7-103.7 million VND/tael (buy - sell); increased by 800 thousand VND/tael for buying - increased by 1.7 million VND/tael for selling.

The latest gold price list on the afternoon of April 10, 2025 is as follows:

World gold price on the afternoon of April 10, 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 3,113.56 USD/ounce. Today's gold price increased by 68.27 USD/ounce compared to yesterday. Converted according to the USD exchange rate at Vietcombank (26,000 VND/USD), the world gold price is about 98.66 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.

World gold prices continue to rise sharply, mainly due to the escalating trade war between the US and China. Notably, US President Donald Trump has suspended high tariffs on many other countries for 90 days, but has sharply increased tariffs to 125% on Chinese goods.

World gold prices recorded the strongest increase since October 2023. US gold futures also increased by 1.5% to 3,126.70 USD.

Nitesh Shah, commodity strategist at WisdomTree, said the market is in a state of extreme uncertainty due to the unpredictable developments of the trade war. He predicted that gold prices will continue to rise this year. The US has just temporarily reduced tariffs on many countries but at the same time increased tariffs on Chinese goods from 104% to 125%, after Beijing decided to impose 84% tariffs on some US goods.

Minutes from the Federal Reserve’s recent meeting showed policymakers agreed that the U.S. economy faces two risks: high inflation and slow growth. Some even suggested that the Fed may have to make tough decisions in the coming period.

Investors are waiting for US consumer price index (CPI) data, scheduled to be released tonight (Vietnam time), to assess the direction of the Fed's monetary policy. The market currently expects the Fed to cut interest rates by a total of 0.84 percentage points this year.

Gold is considered a safe haven asset during times of geopolitical and economic uncertainty and tends to appreciate when interest rates are low. Since last year, gold prices have been on a steady rise and are up more than 18% so far in 2025.

Besides gold prices, silver prices fell 0.4% to $30.88/ounce, platinum prices fell slightly 0.3% to $934.70 and palladium prices lost 1.3% to $920.79.

Gold Price Forecast

In the next few days, many experts predict that the world gold price will continue to fluctuate strongly and tend to increase. The main reason is the escalating geopolitical situation and the weakening USD, causing investors to seek gold as a safe haven.

According to Nitesh Shah's forecast, gold prices could reach $3,600 in about a year, and even hit $4,000 if risks increase.

Many analysts believe that if the geopolitical situation continues to be tense and the USD does not recover, the price of gold could completely surpass the threshold of 3,100 USD/ounce in the short term, even approaching the 3,150 USD mark. However, the market is currently very sensitive and easily affected by policy statements from the Fed or unexpected developments in the Middle East.

If the Fed maintains high interest rates to control inflation, gold prices may be under downward pressure, because gold does not generate interest like other investment channels. Conversely, if there are signs of economic recession or the situation in the Middle East worsens, gold's role as a "safe haven asset" will be reinforced and prices will likely increase sharply.

Despite the Trump administration’s 90-day moratorium on global tariffs, the trade war between the US and many countries is far from over. The US is still maintaining a 10% base tariff on Canada, Mexico and the European Union, while increasing pressure on China with import tariffs of up to 125%.

Some experts warn that the negative impact of these tariffs will take a long time to overcome. Although the S&P 500 has recovered from its lows, it is still down 8% since the beginning of the year, according to Bill Adams, chief economist at Comerica Bank. He believes that the 125% tariff on Chinese goods, if prolonged, will cause great difficulties for businesses and could stifle economic growth in 2025.

Jeffrey Roach, chief economist at LPL Financial, also predicted that the US economy will face many challenges. He said that even if tariffs are suspended for countries that do not retaliate, the market will still be volatile. Data from the beginning of the year shows that the economy is showing signs of slowing down, despite efforts to adjust trade policies.

Quoc Duong