Gold Price Update on April 21: Global Gold Hits Record High, Driving Domestic Market Surge

On the morning of Monday, April 21, Vietnam's gold market turned vibrant as global gold prices surged to historic highs. This spike pushed SJC gold prices up by as much as VND 4 million per tael, widening the gap between domestic and international gold prices to over VND 11 million per tael.

1. SJC Gold Bullion Jumps by VND 4 Million per Tael

As of around 9:30 AM, major brands including SJC, PNJ, and Bao Tin Minh Chau raised their SJC gold prices by VND 4 million per tael for both buying and selling, compared to last weekend.

SJC, PNJ, Bao Tin Minh Chau listed prices at VND 116 million (buying) and VND 118 million (selling) per tael.

Phu Quy Group increased by VND 3.5 million each way, now quoting VND 115 million (buying) and VND 117.5 million (selling).

Mi Hong Gold Shop (HCMC) made a smaller move, raising prices by VND 1 million each way to VND 117 million (buying) and VND 118 million (selling).

Despite the rebound, SJC gold prices still trail the recent peak set late last week by approximately VND 5.5 million per tael.

2. 9999 Gold Rings Rise More Moderately

Compared to gold bullion, 9999 gold rings also saw a price increase, though at a more moderate pace:

Bao Tin Minh Chau raised buying prices by VND 2.2 million and selling by VND 3 million to VND 113 million (buy) and VND 117 million (sell).

Phu Quy Group adjusted prices up by VND 2 – 2.5 million, listing VND 112.5 million (buy) and VND 116 million (sell).

PNJ increased buying by VND 2.5 million and selling by VND 2.1 million to VND 112 million (buy) and VND 115.6 million (sell).

SJC raised buying by VND 2.5 million and selling by VND 1.5 million, now quoting VND 112 million (buy) and VND 115 million (sell).

Currently, 9999 gold rings are still VND 1 – 3 million per tael cheaper than bullion and about VND 2 million below last week's peak.

3. Global Gold Sets Historic High, Price Gap Widens Further

On the Kitco trading platform, spot gold reached USD 3,383.2 per ounce on April 21, up USD 58 from last week's close. Converted, this equates to around VND 106.3 million per tael.

In comparison to domestic prices:

SJC bullion is VND 10.7 – 11.7 million higher than global gold.

9999 gold rings are VND 8.2 – 10.7 million higher.

This marks a notable increase from the previous weekend, where the gap stood at just VND 9.8 – 10.8 million for bullion and VND 9.3 – 9.8 million for gold rings.

4. Why Is Global Gold Surging?

Several key factors are fueling the historic rise in global gold prices:

Weakened US Dollar: The USD Index (DXY) fell nearly 0.8%, dropping below 98.6 points – the lowest level in over 3 years.

Geopolitical Tensions: Investors are flocking to gold as a safe haven amid concerns that former President Donald Trump could impose additional tariffs.

Speculation and Profit-Taking Risks: While gold remains in an uptrend, analysts warn of potential 5–7% corrections due to profit-taking pressure in the short term.

5. Summary

As of April 21, the gold market is experiencing dramatic movements both domestically and internationally. SJC bullion surged, while 9999 gold rings followed with a gentler increase. The widening gap between local and global prices presents both opportunities and risks for investors.

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