Gold price today April 25, 2024 around the world hung high, SJC gold skyrocketed

Domestic gold price today April 25, 2024

At the end of the trading session on April 24, the domestic 9999 gold price was listed by SJC and Doji Jewelry Group in the order of buying and selling as follows:

SJC Hanoi: 82,500,000 VND/tael – 84,520,000 VND/tael
Doji Hanoi: 82,000,000 VND/tael – 84,000,000 VND/tael
SJC Ho Chi Minh City: 82,500,000 VND/tael – 84,500,000 VND/tael
Doji Ho Chi Minh City: 82,000,000 VND/tael – 84,000,000 VND/tael

International gold price today April 25, 2024

At 8:00 p.m. on April 24 (Vietnam time), today’s spot gold price on the world market is at 2,320 USD/ounce. Gold for delivery in June 2024 on the Comex New York floor is at 2,334 USD/ounce.

The world gold price on the night of April 24 is about 12.5% ​​higher (257 USD/ounce) compared to the end of 2023. World gold price converted to USD bank price is 72 million VND/tael, including taxes and fee, about 12.5 million VND/tael lower than the domestic gold price as of late afternoon on April 24.

World gold prices hang high and appear to be quite stable above the threshold of 2,300 USD. Meanwhile, the price of SJC gold bars increased sharply even though the State Bank had put gold out for bidding.

After the first two sessions of the week plunging around 90 USD/ounce, world gold prices increased slightly again and showed that the threshold of 2,300 USD/ounce is quite solid. Many experts believe that the recent decline is an opportunity to buy for the long term.

World gold prices remain high because investors are still concerned about the situation in the Middle East as well as in Ukraine.

Previously, pressure from the people caused investors to bet on the possibility that the Israeli government would have to be cautious in decisions that could inflame tensions in the Middle East. Both sides also lowered their voices a bit.

However, on April 24, Iranian President Ebrahim Raisi warned that if Israel attacked Iran again, it would wipe out Israel. Specifically, the President of Iran said at that time “it is not clear whether this country has anything left.”

This warning makes investors worried about the situation in the Middle East. Escalating tensions can reach unimaginable levels.

Gold prices increased again due to increased bottom-fishing demand when gold reached the strong support level of 2,300 USD/ounce.

Gold price forecast

However, experts on Kitco believe that it is necessary to monitor more gold prices this week to determine gold trends in the near future.

Besides, some weaker economic data from the US is supporting gold prices. The US service and manufacturing sectors lost momentum.

S&P Global said its preliminary purchasing managers’ index for the U.S. services sector fell to 50.9 from 51.7 in March.

In the long term, gold is still in an upward trend. However, in the short term, gold may still have to witness a deeper correction because the decline in the first two sessions of the week is nothing compared to the long increase since the end of December last year.