In Hanoi, SJC gold bars were priced at 148.2 million VND per tael for purchases and 150.2 million VND per tael for sales, marking a sharp increase compared with previous trading sessions.

On the international market, spot gold traded around US$4,040-4,047 per ounce, sustaining elevated levels and supporting domestic price momentum. The fluctuation in gold prices has created an unsettled market sentiment, causing many small investors to hesitate.

At major trading centers along Tran Nhan Tong Street in Hanoi, customer footfall was lower than usual, with some visiting only to check prices before leaving, while others queued patiently to buy.

Market participants expressed concerns over strong price swings. Many investors are trading in limited quantities, wary of short-term losses. Some analysts believe that while gold may rise modestly to around US$4,100 per ounce, significant breakthroughs are unlikely in the next 5-7 months.

Experts noted that gold is in a short-term rebound, but long-term trends remain uncertain. Weak demand could push domestic gold toward 145 million VND per tael. Conversely, rising international tensions or a weaker US dollar could drive prices above 150 million VND per tael.

For storage and investment purposes, experts recommend staged purchases rather than chasing the market, and setting clear exit points to limit risk.

According to Phu Quy Jewelry & Gold, global gold markets may continue to fluctuate strongly this week as investors monitor key economic data, including the US, CPI for October and GDP figures from the U.K. and Germany. Weaker-than-expected inflation and growth data could increase expectations for a Fed rate cut in December, boosting gold demand.

Phu Quy noted that gold inventories in Shanghai rose by 1.8 tons, while Comex stocks fell by more than 13 tons, marking the sixth consecutive weekly decline since late September. The World Gold Council’s October report confirmed that China continues to buy gold net, reinforcing its position as the world’s largest gold importer.

From a technical perspective, global gold is trading near US$4,080-4,100 per ounce, approaching strong resistance, with support around US$3,980-3,800 per ounce. Early-week gains were driven by inflation concerns and signals of monetary expansion. Global GDP data hitting a record 121% of the 2008 crisis level further attracted capital to gold as a safe-haven asset.

Phu Quy forecasts that if the Fed signals a clear rate cut, gold could surpass US$4,100 per ounce and approach US$4,200 per ounce. If monetary policy remains cautious, prices may be adjusted to US$3,900-4,000 per ounce before entering a new trend.

Vietnam gold prices reach new peak following global uptrend

VOV.VN - Gold prices in Vietnam surged sharply on October 21, reaching a historic high of VND154.6 million per tael, up VND3.1 million from the morning session.

Domestic gold prices keep soaring amid global market surge

VOV.VN - Domestic prices of gold bars and rings again rose to historic peaks on the morning of October 16 as global rates keep going up.