As of mid-April 2026, the gold market is witnessing unprecedented strong fluctuations. The global gold price is currently fluctuating around the threshold of 4,700 - 4,800 USD/ounce, while the domestic SJC gold price has established a new price level, exceeding 170 million VND/tael. This is an astonishing milestone when looking back at the price history of a few years ago.
The factors driving the increase
This breakthrough is not random but comes from the resonance of many macro factors:
Geopolitical tensions: Ongoing conflicts in the Middle East and instability in international relations have pushed investor sentiment into a defensive mode, making gold the number one safe haven.
Global public debt pressure: The struggle of major powers with rising public debt and the gradual weakening of the USD in the international reserve system has led central banks to ramp up their gold purchases.
Inflation expectations: Despite adjustments in monetary policy, fears of long-term inflation continue to drive strong capital flow into tangible assets.
Market insights and alerts
From an analytical perspective, while the long-term trend for gold remains in a growth cycle (some financial institutions like J.P. Morgan even forecast a target of $5,000 - $6,000 per ounce), short-term risks cannot be overlooked.
Note: The spread between domestic and global gold prices is currently very high (at times exceeding 20 million VND per tael). This creates significant risk for retail investors who are 'chasing the top' when the market experiences sudden technical corrections.
Advice: In the current 'whipsaw' price environment, the allocation of gold in your investment portfolio needs careful consideration. Gold remains a good safe haven, but instead of going all-in, investors should prioritize a gradual accumulation strategy to mitigate risks from strong market fluctuations.