CaliToday (17/11/2025): The global precious metals market was thrown into a frenzy as trading opened this week, with spot gold rocketing past the unprecedented $4,100 per ounce threshold in a stunning display of bullish momentum.
The explosive move, which occurred during early Asian trading hours, has sent shockwaves through financial markets and has Vietnam’s domestic gold market bracing for one of its most volatile openings in recent history.
The Global Surge: A New Paradigm
The leap past $4,100 was not a gradual climb; it was a sharp, aggressive move that shattered previous resistance levels. Analysts are pointing to a "perfect storm" of factors driving the sudden safe-haven demand:
Geopolitical Jitters: Renewed tensions in key global regions over the weekend are believed to be the primary catalyst, sending investors fleeing from riskier assets like equities and into the perceived safety of bullion.
Dollar and Yield Volatility: The move was amplified by fresh uncertainty surrounding the US Federal Reserve's next steps, causing fluctuations in the US Dollar Index (DXY) and Treasury yields.
Technical Breakout: From a technical standpoint, the breach of the $4,000 psychological barrier last week set the stage. Once that level was firmly broken, automated trading systems (algos) and momentum traders likely piled in, accelerating the climb to $4,100.
"This isn't just another new high; it's a fundamental re-pricing of gold," said a senior commodity strategist in Singapore. "The market is signaling deep-seated anxiety about inflation and geopolitical stability. $4,100 is the new floor until the global picture clarifies."
🇻🇳 Domestic Market Braces for Impact
In Vietnam, the global price explosion is the sole topic of focus for investors this morning. The domestic market, which often sees a lag, is expected to react forcefully when local jewelers adjust their price boards.
All eyes are on the state-owned SJC (Saigon Jewelry Company), as well as major private players like DOJI and PNJ.
SJC Price Gap: The key focus will be the "spread" the notoriously large price difference between domestic SJC taels and the world price. With the global price surging so dramatically, this spread is expected to widen significantly, at least in the initial chaotic hours of trading. Analysts predict SJC could open several million VND per tael higher than Friday's close.
Plain Rings (Vàng Nhẫn): Plain wedding rings and 24K gold bars (which are not under the SJC monopoly) are expected to see the most direct impact. Their prices, which track the global spot price more closely, are poised to shatter all-time domestic records this morning, reflecting the true, unadjusted cost of the metal.
Local financial expert Nguyen Tri Hieu commented, "Vietnamese investors must be extremely cautious today. While the upward trend is clear, the volatility will be immense. The domestic premium on SJC gold could make buying at these levels exceptionally risky, as any sudden global correction would be felt even more sharply at home."
As of 7:45 AM (Hanoi time), local markets are in a state of suspense, awaiting the official opening prices that will set the tone for a historic day of trading.