Gold price today December 25, 2023 holds steady at the peak of 77 million, still threatening to increase in price
Ms. Ngo Hong Minh in Thanh Tri (Hanoi) confided that she and her husband have stable jobs with a good income. Therefore, each year they have a surplus of money to save for their old age. The amount has now reached 4 billion VND.
Last year, she deposited her savings in a bank for a one-year term with an interest rate of 9%. This time, when her savings matured, she looked at interest rates at several major banks but they were all very low, just over 5% for this term. “If I keep saving at low interest rates and the money depreciates, I won’t have much left,” she shared.
Therefore, for nearly two weeks now, the couple has been calculating what to invest with this money to be both safe and profitable.
Minh's husband wants to invest in land. However, the couple seems to have no luck with land. Nearly ten years ago, her husband bought land once. After waiting for 7-8 years, the price did not increase significantly, so he sold it. After half a year of selling, land prices skyrocketed everywhere.
“As for me, I tend to buy gold,” she said, adding that over the years, she occasionally bought a few taels of gold. Up to now, the amount of gold in her hands is not much, but the profit is quite high.
Recently, forecasts have shown that the price of gold will increase sharply, possibly reaching 90 million VND/tael. Therefore, she is wondering whether she should "take" all her 4 billion VND retirement money to buy gold at this time or not.
She calculated, bought all the gold, if the family needed it, they could sell some. Otherwise, they would save it. Investing in land, in case they needed money, it would be difficult to sell it right away.
"Previously, I didn't care too much about the price when I bought a few taels of gold because I planned to save it. This time, I planned to spend a large amount of money to buy gold at the peak price, but I was afraid that the price would turn around and fall," she shared.
Ms. Le Thi Binh in Hoang Mai (Hanoi) is also considering whether to buy gold at the price of 77 million VND/tael.
She has 700 million VND in idle money. She plans to use this money to pay for her daughter's study abroad expenses in the next 3 years. Now, if she puts it in savings, the interest rate is "too low". When the gold price was 73-74 million VND/tael, she considered buying gold but was still hesitant because she was afraid of buying when the price was high. Now, the gold price has increased sharply and she regrets it.
In fact, the domestic gold price has been increasing rapidly in recent days. On the morning of December 23, the selling price of SJC 9999 gold increased by 100,000 VND/tael compared to the closing price yesterday, reaching nearly 77 million VND/tael. This is an unprecedented high price for this precious metal.
Meanwhile, gold prices are forecast to have more room to break out in 2024 when central banks stop tightening monetary policy. If they loosen further, gold will increase even higher by the end of 2024, even into 2025.
Recently, Bank of America expected gold prices to rise to $2,400/ounce by 2024. Japan's Saxo Bank predicted gold would hit $2,300/ounce.
Many forecasts say world gold will peak in 2024. Domestic gold prices, accordingly, could reach 80-90 million VND/tael.
In China and some other countries, many people turn to gold as a safe haven.
Financial expert Dr. Nguyen Tri Hieu also commented that there is a lot of room for gold prices to increase. According to him, the fiscal year is about to end. Next year, the economic situation will be "brighter", creating favorable conditions for the gold market.
So should we buy gold when the price is as high as it is now? He said that each person's financial situation is the basis for making a decision. There is no standard for when to buy or sell gold.
The gold market fluctuates unpredictably and is affected by many issues and events. Therefore, if you want to buy gold, you should only buy 1/3 of the money you have. Do not put all your eggs in one basket and monitor the market daily and hourly to avoid risks. When buying, you need to determine to keep gold for at least 6 months to 1 year. Do not surf the gold wave, buying and selling to "make a quick buck" will be very dangerous, Mr. Hieu warned.
Source
![[Photo] Prime Minister Pham Minh Chinh chairs Government Conference with localities on economic growth](https://vstatic.vietnam.vn/vietnam/resource/IMAGE/2025/2/21/f34583484f2643a2a2b72168a0d64baa)
Comment (0)