Want to save for the long term, should I save or buy gold?

Dr. Nguyen Bich Lam, former General Director of the General Statistics Office, said that the current gold price is at its peak, the reason being the unpredictable fluctuations of the world economy.

However, according to Mr. Lam, the price of gold is very erratic, it can go up but can also fall immediately. Therefore, those who do not have the capacity, the ability to do business and understand the market will tend to save money to be safe and protect their assets. As for those who have the ability to grasp quickly, have the ability to make decisions, they often buy and sell very quickly. Therefore, they will take this opportunity to invest in gold trading to quickly make a profit.

"However, gold trading at this time has many risks, so investors need to consider carefully before investing," said Dr. Nguyen Bich Lam.

Experts recommend that investors should consider carefully when investing in the context of rising gold prices. (Illustration photo).

Expert Nguyen Minh Phong also said that the increase in gold prices is certainly not long-term. Recently, gold prices have often increased rapidly but also decreased very quickly.

"Gold prices are unstable, so investors should not invest heavily, especially swing traders should be very careful," said Mr. Phong.

Associate Professor Dr. Dinh Trong Thinh advised: “Gold buyers should be cautious when domestic gold prices are continuously increasing and not completely in sync with world gold prices. In the long term, domestic gold prices will also fluctuate up and down according to world prices, so a reversal is entirely possible.”

Meanwhile, Dr. Nguyen Tri Hieu commented that the gold market is always unstable. The increase in gold prices does not mean that they will increase steadily from now until the end of the year.

Savings are still a safe investment channel. (Illustration photo).

“The important thing is to never borrow money from others to invest in gold. If the gold price falls contrary to expectations, gold buyers will have big financial problems. If you have the financial ability to invest in gold at this stage, you should only invest 1/3 of your savings and not put all your eggs in one basket,” said Dr. Nguyen Tri Hieu.

Comparing between investing in gold and saving in banks, Mr. Hieu stated his opinion: " If I were to rate on a scale of 10, I think the gold market would score 7 points, the stock market 4 points, real estate 5 points, and banks, although having low interest rates, are the safest market and still generate steady profits, so the investment channel in bank deposits is still at the highest level, 8 points ."

PHAM DUY

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