Gold prices surge sharply after Trump declares Hormuz Strait 'fully open'

Expectations for a swift end to US-Iran conflict push gold prices higher

At the current price, converted at the bank’s listed exchange rate, world gold is equivalent to 155 million VND per tael.

World silver prices also jumped sharply, at times surpassing 83 USD per ounce, equivalent to approximately 2.64 million VND per tael.

This is a very strong increase in recent times.

Recently, gold price movements have largely depended on news of the conflict between the US and Iran; each time tensions de-escalate, gold prices are bolstered for an upward trend.

Tonight, although the US noted that “the naval blockade order will remain in full effect, but only applies to Iran, until the agreement with Iran is 100% complete,” expectations for an early end to the US-Iran conflict pushed gold prices to surge because of promises that “this process will happen very quickly, as most points have already been negotiated.”

Domestic gold price now only 16 million VND per tael higher than world gold price

At the end of today, SJC gold bar prices decreased by 200,000 VND per tael, to 171 million VND per tael. The buying price also decreased to a corresponding level, at 167.5 million VND per tael.

The selling price of 9999 gold rings decreased to 170.5 million VND per tael, with a buying price of 167 million VND per tael.

Compared to the converted world gold price, domestic gold is now only 16 million VND per tael higher. Previously, the difference had reached over 30 million VND per tael.

At the end of today, silver prices also edged up.

Ancarat Company listed silver selling price at 3.065 million VND per tael and buying price at 2.973 million VND per tael.

SBJ Company listed silver selling price at 3.072 million VND per tael and buying price at 2.982 million VND per tael.

Phú Quý Company listed silver selling price at 3.064 million VND per tael and 2.972 million VND per tael (buying price).

Over the past week, domestic silver prices have continuously risen and are now quite firm above the 3 million VND per tael mark. Buying demand has also improved after a period of stagnation.

World gold prices reversed to increase by 31 USD per ounce this morning (April 14), pulling SJC gold bar prices to surge to 173 million VND per tael. Silver prices also surpassed 2.9 million VND per tael.

US

The United States is a relatively young nation, founded in 1776 after declaring independence from Great Britain. Its history is defined by westward expansion, waves of immigration, and a civil war that ended slavery, evolving into a global superpower with a diverse cultural landscape shaped by its indigenous peoples and countless immigrant groups.

Iran

Iran, historically known as Persia, is a country in Western Asia with one of the world’s oldest continuous civilizations, dating back to the Elamite kingdoms of the 4th millennium BCE. It is home to numerous UNESCO World Heritage sites, including the ancient ceremonial capital of Persepolis and the magnificent architecture of Isfahan’s Naqsh-e Jahan Square, reflecting its profound influence on

US

The United States is a relatively young nation, founded in 1776 after declaring independence from Great Britain. Its history spans from indigenous civilizations and European colonization to becoming a global superpower, shaped by immigration, territorial expansion, and a federal constitutional republic. Culturally, it is a vast and diverse mosaic, known for its significant global influence in areas like technology, entertainment, and democratic ideals.

Iran

Iran, historically known as Persia, is a country in Western Asia with one of the world’s oldest continuous civilizations, dating back to the Elamite kingdoms of the 4th millennium BCE. It is home to numerous UNESCO World Heritage Sites, including the ancient capital of Persepolis, which was the ceremonial heart of the Achaemenid Empire founded by Cyrus the Great in the 6th century BCE. Today, Iran’s rich cultural heritage is reflected in its architecture, poetry, and traditions, shaped by successive empires and its 1979 Islamic Revolution.

Persepolis

Persepolis was the ceremonial capital of the Achaemenid Empire, founded by Darius I around 518 BCE in modern-day Iran. It served as a grand complex for royal receptions and festivals until its destruction by Alexander the Great’s army in 330 BCE. Today, its impressive ruins, including monumental stairways and columns, are a UNESCO World Heritage Site, showcasing ancient Persian art and architecture.

Naqsh-e Jahan Square

Naqsh-e Jahan Square, located in Isfahan, Iran, is a vast UNESCO-listed public square built in the early 17th century during the reign of Shah Abbas I of the Safavid dynasty. It was designed as a grand royal precinct and marketplace, famously flanked by iconic monuments like the Shah Mosque, Ali Qapu Palace, and the Sheikh Lotfollah Mosque, showcasing the pinnacle of Persian Islamic architecture.