At 10 a.m., Doji and SJC listed gold bars at VND153.6-154.6 million per tael (buy–sell), while gold rings were quoted at VND151.5-154.5 million, rising by VND2.5-3.2 million.

Meanwhile, global gold prices on Kitco stood at US$4,364 per ounce, up US$96 from the previous day. The surge came as renewed trade tensions and the US Government shutdown added momentum to the market.

Analysts attributed the rally to expectations that the US Federal Reserve (Fed) will continue cutting interest rates while inflation remains high, pushing real interest rates further into negative territory and weakening the US dollar, factors that tend to boost gold demand.

According to the World Gold Council, global gold ETFs recorded their largest net inflow in September at US$17 billion, raising total inflows in the third quarter to US$26 billion, the highest since records began.

Global gold demand this year is projected to reach around 4,850 tons, the highest since 2011.

Experts noted that while domestic gold has soared over the past two years and remains a highly attractive investment channel, it also carries rising risks. Buying at record levels could expose investors to heavy losses if the market corrects.

Economist Tran Duy Phuong warned that “purchasing or investing in gold at this time is extremely risky.” He cited three main risks: the domestic–international price gap of about VND20 million per tael; the potential correction of global gold prices after rapid gains; and tighter government and State Bank of Vietnam controls to ensure market stability, which could lead to sharp domestic price adjustments.

He recommended investors allocate their capital prudently, for example, 60% in gold and 40% in savings deposits, instead of investing all their capital in gold during this period of sharp price fluctuations.

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.

Gold prices soar above VND145 million/tael amid global surge

VOV.VN - Domestic gold prices in Vietnam skyrocketed to a historic high, surpassing VND145 million per tael on the morning of October 14, following a sharp rally in global gold prices that pushed the metal above US$4,135 per ounce.