Gold price dropped by 1 million VND/tael in this morning's trading session, combined with the difference between buying and selling, causing investors to lose more than 2 million VND after just one week.
Specifically, if buying gold in the trading session on February 9 and selling it today, February 16, the gold buyer will lose more than 2 million VND/tael.
In an interview with VTC News on the morning of February 16, economic expert, Associate Professor, Dr. Dinh Trong Thinh said that in recent days, the world gold price has dropped to 2,882 USD/ounce, converted to VND, the world gold price is at about 85 million VND/tael.
In addition, after the God of Wealth Day, gold prices also decreased due to a decrease in purchasing power in the market. This made the gap between selling and buying prices, the gap between world and domestic gold prices shorter. This was also the reason why domestic gold prices decreased significantly.
Although it has decreased, the domestic gold price is still very high, at 87.3 - 90.1 million VND/tael (buy - sell) for gold rings and 87.3 - 90.3 million VND/tael (buy - sell) for gold bars.
Explaining this, expert Dinh Trong Thinh said: “When the world gold price is around 2,900 USD/ounce, the equivalent of VND is also over 85 million VND/tael. In addition, the difference between domestic gold price and world gold price is from 3 to 4 million, the difference between domestic gold buying and selling price is also wide, the current price is not a sudden change."
Mr. Thinh also predicted that gold prices in the coming time will fluctuate little, but the general trend will increase slightly.
“Gold can only continue to increase strongly when the USD is weak and the US imposes high taxes. Along with that, a trade war may occur, investors buy and sell less, international trade will decrease, causing gold prices to increase. In the case of moderate US taxes, good world trade, the USD appreciates, gold prices will decrease. But basically, in 2025, gold prices will increase slightly,” Mr. Thinh said.
For investors, Mr. Thinh said, they need to be alert and know how to seize the opportunity when gold goes up and down at the right time to buy and sell appropriately.
“If you buy and sell at the right time, you will make a profit. If you are too greedy, you will risk losing money.” Mr. Thinh recommends.
In the international market, spot gold price (XAU/USD) decreased by 33.91 USD to 2,882.74 USD/ounce, equivalent to a decrease of 1.16% in the past 24 hours.
Converted according to Vietcombank exchange rate, 1 ounce of gold is currently priced at 72.70 million VND. When calculated according to gold conversion, 1 tael of world gold is currently priced at about 87.65 million VND, about 2.5 million VND/tael lower than the domestic gold price.
According to experts' analysis, the decline in world gold prices has somewhat affected the domestic market as selling pressure has increased, creating adjustment pressure. Investors continue to monitor developments in the international market, especially macroeconomic signals and actions of central banks to assess the gold price trend in the coming time.
Domestically, after opening morning trading, domestic gold prices suddenly dropped sharply by 1 million VND/tael, to 90 million VND/tael.
Specifically, at 12:00 on February 16, Saigon Jewelry Company listed the price of SJC gold bars at 87.3 - 90.3 million VND/tael for buying and selling, down 1 million VND/tael in both directions compared to early this morning.
Bao Tin Minh Chau Company Limited listed the price of gold rings at 88.35 - 90.3 million VND/tael for buying and selling, down 1 million VND/tael compared to early this morning.
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