Gold prices drop sharply, people need to be careful when investing

According to the reporter's records, at Saigon Jewelry Company (SJC), the listed price of gold bars is at 97.1 - 100.1 million VND/tael (buy - sell), down 1.7 million VND for buying and 1.2 million VND for selling compared to yesterday. In just two days, the price of SJC gold bars has decreased by 2.1 million VND/tael and is close to the 100 million VND/tael mark.

Latest SJC gold price

Phu Nhuan Jewelry Company (PNJ) listed plain rings at 97.5 - 100.1 million VND/tael (buy - sell). At Bao Tin Minh Chau Company, the price of 9999 gold rings decreased by 1.1 million VND/tael, to 100.5 million VND/tael (sell) and 97.5 million VND/tael (buy).

Similarly, the price of 9999 Hung Thinh Vuong round gold ring at DOJI is listed at 96.7-100.1 million VND/tael (buy - sell), down 1.8 million VND/tael in buying - down 1.2 million VND/tael in selling compared to yesterday.

There are many risks when investing in gold.

Domestic gold prices have fallen sharply due to the impact of world developments. On the evening of April 4, this precious metal suddenly plummeted by 140 USD/ounce in a short time, falling close to 3,000 USD/ounce. This is contrary to the expectations of many experts, that gold will continue to play a safe haven role in the context of global market instability. Instead of increasing in price as expected, gold has been under pressure to take profits from short-term traders and liquidate weak long-term contracts. Along with that, the global stock market plunged, forcing investors to sell gold to cover expenses. In the session on April 4, the US stock market continued to fall sharply, the Dow Jones continued to plummet after falling 1,679 points in the session on April 3. The S&P 500 traded 3.2% lower after a 4.84% drop on April 3. The Nasdaq also fell 6%.

This shows that, even in its role as a "safe haven", gold cannot avoid the impact of volatile market sentiment. In the context of an increasingly uncertain global economy, investment decisions need to be carefully considered. "This shows that investors need to be alert when investing in this asset. The current decline in gold prices will cause buyers to face huge losses. Speculating on gold is an extremely risky direction," Dr. Nguyen Tri Hieu warned.

According to experts, instead of following the crowd, investors should monitor macroeconomic factors, global financial and trade policies to make reasonable decisions, avoiding risks when gold prices may adjust in the near future.

Source: https://thoibaonganhang.vn/gia-vang-sut-giam-manh-nguoi-dan-can-can-trong-khi-dau-tu-162345.html