This is an extremely risky time to buy gold.

According to gold expert Tran Duy Phuong, now is an extremely risky time to buy gold, especially for investors who plan to use financial leverage and borrow money to buy gold.

This morning (March 24), gold price domestic still "anchored" at high level. Saigon Jewelry Company listed SJC gold bar price 94.4 - 97.4 million VND/tael for buying and selling.

Other gold trading businesses also listed gold bar prices. SJC at 97.4 million VND/tael sold.

Gold ring price listed by businesses around 98 million VND/tael. Specifically, Bao Tin Minh Chau Company Limited listed 96.1 - 98.6 million VND/tael; Phu Quy Gold and Gemstone Group listed 95.3 - 98.3 million VND/tael...

The price is still higher than SJC gold bars by 900,000 - 1.2 million VND/tael depending on the gold brand.

The price of gold rings is 900,000 - 1.2 million VND/tael higher than that of SJC gold bars (photo: Nhu Y).

At the same time, the price of gold world listed at 3,023 USD/ounce. The world gold price is more than 95.4 million VND/tael.

World gold price and domestic The past week has been a wild one. After hitting an all-time high, the market quickly fell.

However, experts still believe that this is a necessary adjustment period, and the long-term trend of gold is still positive. The gold market is in a "testing" phase of investor psychology, when prices are high but there are still no clear signs of a reversal.

In the short term, there are still factors supporting gold price increase. These are world geopolitical tension, USD price decrease, many bank The central government still buys gold.

Gold expert Tran Duy Phuong said that after the price adjustment due to investors taking profits, gold prices are likely to continue to move sideways and gradually increase again. During the term US President Donald Trump's administration is expected to continue to see many changes...

The expert advised investors that now is an extremely risky time to "put money down" to buy gold, especially with the calculation of using financial leverage, borrowing money to buy gold.

In the currency market this morning State Bank announce exchange rate center at 24,813 VND/USD.

The State Bank also increased the reference USD exchange rate to 23,623 - 26,003 VND/USD.

Banks also increased by 20 - 30 VND/USD during the day. Accordingly, the USD buying price is in the range of 25,350 - 25,380 VND/USD and the selling price is 25,740 - 25,760 VND/USD.

In fact, the price USD has been gradually increasing since the beginning of last week. Compared to the end of last week, the USD price at banks has increased by about 50 VND and is approaching the peak of 25,780 VND/USD recorded in early March.

In the free market, the USD price has also suddenly increased sharply in recent sessions. Foreign currency purchasing points sell at 25,950 - 25,970 VND/USD and buy at 25,850 - 25,870 VND/USD. After 1 week, the USD price in the free market has increased by a total of 150 - 170 VND and is currently approaching the peak of 26,000 VND/USD recorded at the end of June 2024.

Previously, the USD price increased to 25,900 VND/USD at the end of 2024 and then decreased sharply in January 2025. However, the USD price has continuously maintained an upward trend since the Lunar New Year until now. In general, since the beginning of the year, the free USD price has increased by 100 VND, equivalent to nearly 0.4%.

Experts from MBS Securities Company believe that the exchange rate fluctuated strongly throughout February 2025 under pressure from many factors. Regarding external factors, although the USD weakened during the period, it was still fluctuating at a high level, so it still caused certain pressure on the exchange rate. Not to mention, the domestic demand for foreign currency increased as businesses increased the import of production materials.

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