The price of SJC gold bars and 99.99 gold rings continues to decrease sharply.

(NLDO) - In the context of fluctuating gold prices, many experts say that we need to be extremely careful and should not borrow money to buy gold to "surf" and make a profit because the risks are very high.

On the morning of December 14, SJC Company listed the price of gold bars at 83.8 million VND/tael for buying and 86.3 million VND/tael for selling - down 100,000 VND compared to yesterday morning. This is the second consecutive day of decline in the price of gold bars, bringing the total decline to 1 million VND/tael.

This price is also recorded at companies such as PNJ and DOJI.

Meanwhile, the price of 99.99% gold rings and jewelry gold recorded a sharper decrease. This morning, SJC Company adjusted the price of plain gold rings down to VND83.3 million/tael for buying and VND84.7 million/tael for selling - a decrease of VND500,000 compared to the previous day. In total, the price of gold rings has lost VND1.2 million per tael after 2 days.

At other businesses, PNJ Company listed the selling price of plain gold rings at 84.9 million VND/tael, while DOJI sold at a higher price, at 84.6 million VND/tael.

Mi Hong Company traded plain gold rings at a lower price, buying at 83.4 million VND/tael and selling at 84.4 million VND/tael.

Giá vàng miếng SJC và vàng nhẫn 99,99 tiếp tục giảm sâu- Ảnh 1. — Gold price today continues to decrease for gold bars and 99.99 gold rings

Domestic gold prices plummeted following the strong decline in world prices. In the international market, gold prices today closed the trading week at 2,648 USD/ounce, down nearly 50 USD/ounce from the highest price in the previous session.

The market expects the US to cut interest rates further next week, benefiting gold prices, but the USD is still rising against many other currencies. The USD index is currently at 106.6 points, maintaining a high level in recent days, causing gold to be under downward pressure.

The US bond interest rate increased to 4.39%, also encouraging investors to pour capital into this profitable channel and take profits from gold.

Investors are hesitant.

In recent days, domestic gold prices have fluctuated continuously, causing many investors to wonder whether they should "put money in" at this time or not.

Ms. Ngoc Nga - an investor in Binh Thanh District, Ho Chi Minh City - said that in early November, she closed a profit on 5 taels of 99.99 gold rings at the price of VND84.8 million/tael, right after Mr. Donald Trump was elected President of the United States. At that time, she predicted that the price of gold would hardly increase further.

However, the market developments that followed made Ms. Nga regretful, when the price of gold rings skyrocketed, at times reaching 86-87 million VND/tael.

"I am waiting for the gold price to drop to around 83-84 million VND/tael to buy back" - Ms. Nga said, expressing her hope for an opportunity to reinvest when the gold price adjusts.

Be careful when investing in gold when prices fluctuate.

Although the price of this precious metal in the world is on a downward trend, gold expert Tran Duy Phuong said this is only a short-term adjustment.

Mr. Phuong predicts that from now until the end of 2024 and the beginning of 2025, factors such as the US interest rate reduction roadmap, geopolitical tensions in the Middle East, the Russia-Ukraine situation... will be the driving force to push gold prices up again.

However, financial expert Phan Dung Khanh said that investors who intend to buy gold to "surf" to make a profit need to be very careful. Because, after a year of rapid increase, the price of gold is unlikely to break out strongly. He recommends investing in gold with a long-term vision, using idle money and limiting the proportion of gold in the investment portfolio to 20-30%.

"You should absolutely not borrow money to buy gold at this time because the risks are very high," Mr. Khanh emphasized, while warning about the risk of losses during a period when gold prices are still subject to unpredictable fluctuations.