Experts predict that the price of SJC gold rings and gold bars may increase to a new high. However, the gold market always has potential risks and unpredictable fluctuations, investors should consider carefully before spending money.
Why is the price of gold skyrocketing?
The world gold price officially broke the record high of 3,000 USD/ounce. Domestically, the gold price also accelerated, continuously reaching new records when gold rings on March 14 reached 96.5 million VND/tael; while SJC gold bars approached the 96 million VND/tael mark.
Sharing with VietNamNet reporter, Associate Professor Dr. Ngo Tri Long - economic expert, said that there are many reasons why the domestic gold ring price exceeded 96 million VND/tael - the highest level in history.
This is due to the sharp increase in world gold prices, at times exceeding 3,000 USD/ounce, reaching an all-time high. This increase is mainly due to the increased demand for safe havens amid uncertainty about tariffs and the global economy. US President Donald Trump's constantly changing trade policies have further driven investors to gold.
On the other hand, domestic demand is increasing as people and investors tend to buy more gold rings due to their flexibility and storage capacity. Meanwhile, the amount of gold rings on the market is not abundant, causing prices to increase.
In particular, the gap between the buying and selling prices of gold rings is less volatile than gold bars, reducing trading risks, making it more attractive to investors.
Sharing the same view, economic expert Nguyen Tri Hieu said that the world gold price increased sharply due to many factors, in which geopolitical issues were the main reason for the gold price increase.
In addition, central banks are also buying a lot, including the Central Bank of China and India. The demand for gold in the world is increasing.
In particular, investors in the US are worried about a possible recession in the country as Donald Trump increases tariffs, inflation increases, causing more people to seek refuge in gold.
The 100 million VND/tael mark is easy to break.
Associate Professor Dr. Ngo Tri Long commented that with the current increase in gold prices, it is possible that domestic SJC gold prices will reach 100 million VND/tael, especially if world gold prices continue to increase.
However, the gold market always has potential risks and unpredictable fluctuations. He advised investors to be cautious, closely monitor market developments and consider carefully before making decisions.
According to Mr. Nguyen Tri Hieu, it is very difficult to predict domestic gold prices at this time.
“Gold bars are still under the strict management of the State Bank, while gold rings are freely traded. Therefore, the price of gold rings can reach 100 million VND/tael, but it is difficult to predict when. The probability is about 60% that gold rings can reach 100 million VND/tael at this time,” Mr. Hieu stated his opinion.
According to Mr. Hieu, the difference between domestic buying and selling prices is acceptable if it is around 300,000 VND/tael. However, if the difference is from 300,000 to 500,000 VND/tael, it is the time when gold traders make more profit. In particular, if the difference is 1 million VND or more, it is the time when gold traders pass the risk onto buyers.
In fact, whenever domestic gold prices "heat up", gold shops often push the buying and selling price difference to a very large level, sometimes up to more than 4 million VND/tael.
Giving advice for the long-term gold market, Dr. Nguyen Tri Hieu suggested that Decree 24 should be changed immediately, especially the national brand of SJC gold should be withdrawn so that products can compete freely. The market needs to provide a more abundant source of gold.
“When the gold price is as high as it is now, the supply is limited, the world gold market is in a 'fever', which will cause the domestic gold price to continue to be pushed very high. Decree 24 needs to allow other gold traders to import gold to provide a more abundant gold source for the market,” Mr. Hieu suggested.
At this time, Mr. Hieu advised investors to be extremely cautious because when gold prices rise, they may be pushed down, especially when US President Donald Trump withdraws tariff sanctions against countries or the issue between Ukraine and Russia is resolved satisfactorily.
When the world gold price drops, the domestic gold price will also decrease. Therefore, investors should not buy gold following the crowd mentality and should not borrow money to buy gold.
Gold price today March 15, 2025 suddenly increased to a record level, plain rings are still at the top
Plane packed with gold, thousands of tons shipped to the US
Gold prices today, March 14, 2025, simultaneously reached a new peak, approaching 100 million VND/tael
Source: https://vietnamnet.vn/gia-vang-tang-chuyen-gia-canh-bao-dau-hieu-nha-vang-day-rui-ro-cho-khach-2380949.html
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