At 8:30 this morning, the domestic gold bar price was listed by SJC at 82.8 - 85.3 million VND/tael (buy - sell), down 1.8 million VND/tael (buy) and 1.3 million VND/tael (sell).
Domestic gold bar prices have fallen sharply following the downward trend of world gold prices. Today's world gold price is listed on Kitco at $2,625/ounce, down $90/ounce compared to early this morning.
Gold prices fell sharply as investors booked profits after a five-session rally to a three-week high last week.
Gold was also negatively impacted after Donald Trump picked billionaire investor Scott Bessent as his new Treasury Secretary. Analysts said Bessent would not be tough on trade with China, which would cool political risks, which would be detrimental to gold prices.
Gold bar prices drop sharply. (Photo: Cong Hieu).
Market participants are also now paying attention to the minutes of the US Federal Reserve's November monetary policy meeting, the first revised growth data and the core personal consumption expenditure index data.
Markets are generally expecting the Fed to cut interest rates by 25 basis points at its next meeting on December 18, although traders have reduced bets on that outcome in recent days, said market analyst Frank Watson of Kinesis Money.
Having given advice to investors during the time when gold prices were plummeting, gold expert Tran Duy Phuong said that this is also a good opportunity for investors who want to buy for storage or investment.
" We should divide the money and buy gradually instead of rushing to buy all at once. Those who want to sell gold should also consider. In recent days, I have seen many people come to sell gold. Buyers do not dare to invest at this time because they predict that the gold price will continue to decrease. I think investors should consider. If we need money and previously bought at a price of about 60 - 70 million VND/tael, we can sell to make a profit; but if it is not really necessary, we should wait for the right time when the gold price recovers ," Mr. Phuong shared.
Associate Professor Dr. Dinh Trong Thinh also said that the solutions to manage the gold market that the State Bank and ministries and branches have implemented in recent times have brought about some positive results, but the gold market still has many unstable and unclear factors.
Therefore, investing in gold now needs to be carefully considered, because the risks are high. When the world gold price adjusts, the domestic gold price will also decrease. The difference between the domestic and world gold prices is currently about 4-5 million VND, so the pressure to decrease when the world gold price plummets is reasonable. Not to mention, the price of gold rings increases rapidly when investors are impatient to buy and wait for the price to increase further, which invisibly creates virtual prices and risks. After the gold fever passes, managers should let the market operate according to supply and demand.
Source: https://vtcnews.vn/vua-mo-cua-gia-vang-mieng-trong-nuoc-boc-hoi-gan-2-trieu-dong-luong-ar909637.html
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