Gold price sets new record, market fluctuates strongly
At 11 a.m., the price of gold rings traded at DOJI Gold and Gemstone Group Joint Stock Company, plain round rings traded at 97.7 - 99.6 million VND/tael (buy - sell). At Phu Quy Gold Investment Joint Stock Company, gold rings traded at 97.8 - 99.6 million VND/tael (buy - sell). And at Bao Tin Minh Chau, it was at 97.8 - 99.9 million VND/tael (buy - sell), down 500,000 VND/tael compared to the opening price of the morning session.
Currently, the difference between buying and selling prices of domestic gold is at 1.8 - 2 million VND/tael; in addition, the domestic gold price is 5-6 million VND/tael higher than the world gold price. Ms. Hoang Thi Hanh - Deputy Director of Sales and Exchange of Bao Tin Minh Chau Company shared more about the gold buying and selling situation in recent days at the company's facilities:
"Currently, Bao Tin Minh Chau is receiving a relatively large number of customers, mainly customers who come to buy. Customers who come to buy are 80% and customers who come to sell are about 20%. Currently, Bao Tin Minh Chau has prepared the maximum amount of goods to serve the needs of customers. However, there will be times when we will have restrictions. For example, at present, we limit the sale to each customer to a maximum of 10 taels."
Updated early this morning on the New York market, world gold prices lost momentum. World spot gold prices fell 0.3% to 3,038.79 USD/ounce. World gold futures prices increased slightly 0.1% to 3,043.8 USD/ounce. Regarding the domestic gold price, Ms. Cao Nhu Hoa - Director of Hanoi Gold Company shared the reality:
"According to Hanoi Gold Company, the gold price in recent days has recorded clear fluctuations. For example, on March 18, 2025, the gold buying price was 9,520,000/tael and the selling price reached 9,660,000/tael. By March 19, 2025, the next day, the buying price had increased sharply to 9,650,000/tael and the selling price increased by 98 million/tael.
In the afternoon of the same day, the selling price reached 10 million VND/tael. We can see that the increase in gold prices in both gold and silver has increased significantly. By yesterday, the gold price had exceeded 10 million VND/tael. This reflects that the gold market is fluctuating frequently with the impact of many domestic and international factors.
The increase in world gold prices has affected the trend of domestic gold prices. Both domestic and world gold prices have set new records. World gold prices are not only influenced by interest rates and monetary policies but also depend on the global geopolitical situation.
In a cautious scenario, Mr. Nguyen The Minh, Director of Research and Development for Individual Clients at Yuanta Securities Vietnam, said that the USD is showing signs of slowing down its decline in the short term and could recover.
In addition, in the latest meeting, the FED's comments showed that inflationary pressure exists but has not yet affected the current health of the economy. We may face a mild recession or technical recession of the US economy. Therefore, Mr. Minh believes that the need for long-term storage in the gold investment channel may decrease in the near future:
"In the upcoming FED meeting, the scenario of two interest rate cuts in June and September 2025 may be maintained. This means that the loosening of monetary policy also brings the expectation that the US economy may not have a recession scenario or may also get stronger thanks to the FED's easing policy. This will help the USD increase again in the coming time.
Finally, there are Mr. Trump's solutions. Mr. Trump's principle is to benefit the US and maintain the strength of the USD. So with the recent depreciation of the USD index, Mr. Trump will have a solution to restore the strength of the USD. This will also create difficulties for gold prices in the coming time. Domestic gold prices will also cool down again."
Investors need to be careful, avoid Fomo mentality
The pressure to adjust gold prices is relatively high. Historically, every time there is a surge in gold prices, there will be a FOMO (crowd) situation and the consequence is very strong adjustments in gold prices. From there, investors also sell off a lot and suffer losses. Therefore, Ms. Cao Nhu Hoa - Director of Hanoi Gold Company, founder of the Hanoi Gold brand from 2020 to present, recommends:
"We recommend that investors should monitor developments to make appropriate decisions, avoiding buying too much when gold prices increase too much. Or some people feel that when gold prices increase to a stable level, they also take a lot of profits to keep cash."
Mr. Nguyen The Minh - Director of Research and Development of individual customers of Yuanta Securities Vietnam, reminded investors that the price of physical gold in the country is still traded through agents or banks. Therefore, liquidity may not be guaranteed as in the listed market and secondary market channels:
"So it is clear that if a sell-off occurs due to the pressure of gold price adjustment, it is very likely that liquidity is also a factor that investors must anticipate this risk. Therefore, I think that with the psychology of investors when shifting from savings to gold, they should tend to think about long-term investment holding instead of short-term speculation. But to implement that strategy more effectively, we should prioritize the stages of downward adjustment instead of FOMO following the upward price trend."
The world gold price surpassing 3,000 USD/Ounce reflects the deep instability of the global political economy. However, experts say that no asset increases forever without adjustment. Investors need to stay calm, avoid rushing into the market based on emotions, and instead focus on areas that bring long-term and sustainable value.
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