Domestically, right after the opening of the trading session on the morning of April 10, the price of SJC gold bars surged by VND 2 million per tael, pushing it close to the VND 104 million/tael mark.

Specifically, Saigon Jewelry Company (SJC) posted the largest increase, adjusting the buying price up by VND 1,200,000/tael and the selling price up by VND 2,000,000/tael compared to the previous day's closing price. This brings SJC gold bar prices to VND 100,900,000/tael (buy) and VND 103,900,000/tael (sell).

At DOJI Group, the gold bar price was increased by VND 700,000/tael on the buying side and VND 1,500,000/tael on the selling side from the previous session, setting new prices at VND 100,400,000/tael (buy) and VND 103,400,000/tael (sell).

Meanwhile, Phu Quy SJC adjusted its gold bar price up by VND 1,300,000/tael (buy) and VND 1,500,000/tael (sell), reaching VND 100,200,000/tael (buy) and VND 103,400,000/tael (sell).

At Bao Tin Minh Chau, the SJC gold bar price was raised by VND 600,000/tael (buy) and VND 1,500,000/tael (sell), resulting in prices of VND 100,400,000/tael (buy) and VND 103,400,000/tael (sell).

By 10:30 AM, nearly all gold trading companies in Vietnam had uniformly increased their SJC gold bar selling prices by another VND 2 million/tael, with most listing at VND 100,900,000/tael (buy) and VND 103,900,000/tael (sell).

In the same session, PNJ-branded gold jewelry from Phu Nhuan Jewelry Joint Stock Company also saw an increase, though at a slower pace compared to SJC gold bars.

Specifically, PNJ increased the buying price of its gold rings by VND 300,000/tael, while keeping the selling price unchanged from the previous session. The listed prices in both Hanoi and Ho Chi Minh City now stand at VND 99,800,000/tael (buy) and VND 101,900,000/tael (sell).

With just two consecutive sessions of price hikes, SJC gold bars have once again set a new peak, nearing VND 104 million/tael.

Globally, as of 9:30 AM (Vietnam time), international gold prices soared to over USD 3,116/ounce, rising nearly USD 136/ounce—a 4.55% increase within the past 24 hours.

Today’s sharp rise in gold prices comes as U.S. President Donald Trump announced a hike in tariffs on Chinese goods to 125%, while also issuing a 90-day delay on new tariffs for multiple countries. During this grace period, a 10% tariff will apply to allow room for negotiations.

Trade tensions and inflation concerns are believed to be key drivers behind the surge in demand for precious metals, pushing gold prices upward. Meanwhile, the U.S. Federal Reserve (Fed) has signaled that it is in no rush to cut interest rates to support the economy. Additionally, news that the People’s Bank of China plans to continue ramping up gold purchases as a hedge against tariff-related risks has further fueled the bullish momentum.

Bart Melek, an expert from TD Securities, stated that gold is considered a risk-hedging asset, especially when tariff wars threaten to amplify inflation and push bond yields higher. He also noted that if trade conflicts persist and weaken the U.S. dollar, this would further support gold prices.

Another new factor that could significantly impact the gold market is the expansion of Chinese insurance companies' investments in gold. Under a new pilot program, 10 major insurers in China will be allowed to invest up to 1% of their assets in gold—an amount equivalent to around USD 27.4 billion—which could add even more upward pressure to gold prices.