Gold bar and gold ring prices have dropped sharply. Should we buy gold for investment?

At 11:00 a.m. on November 14, the price of SJC gold bars and gold rings in the country both decreased sharply compared to the early morning of the same day.

At 11:00 a.m. on November 14, the world gold price today was trading at 2,561 USD/ounce. This is the fourth consecutive session that the world precious metal price has decreased. The rapid decline has even caused the gold price to break most of the previously established support levels.

The decrease in world gold prices has dragged down the price of SJC gold. At 11am, Saigon Jewelry Company Limited - SJC listed the price of SJC gold bars at 80 million VND/tael for buying and 83.5 million VND/tael for selling. Compared to 5:30am the same day, the price of SJC gold bars at this unit has "evaporated" 500,000 VND/tael.

Similarly, DOJI Group is listing the price of gold bars at 80 - 83.5 million VND/tael for buying and selling. Compared to the early morning of the same day, the price of gold bars here also decreased by 500,000 VND/tael for buying and selling.

Experts recommend that investors should not rush to buy all the gold for investment at this time.

After the gold price decreased, the difference between buying and selling prices of SJC gold at different units fluctuated around 3.5 million VND/tael.

Mi Hong Company alone sharply reduced the buying price of gold bars by 800,000 VND and reduced the selling price by 500,000 VND, currently trading around 80.5 - 83.5 million VND/tael.

Thus, compared to the level of 90 million VND/tael established nearly 2 weeks ago, the price of SJC gold bars decreased by 6.5 million VND/tael.

Sharing the same downward trend, at 11am on November 14, the price of gold rings at large enterprises also decreased simultaneously. SJC is listing the price of gold rings at 79 - 81.7 million VND/tael for buying and selling. DOJI listed the price of gold rings at 80.5 - 82.7 million VND/tael for buying and selling.

According to domestic economic experts, the direct cause of the fall in world gold prices is the increase in the value of the USD. In addition, it is partly due to the US presidential election. Previously, gold always increased in the years of the US presidential election. When the election results were out, gold would decline again.

In addition, investor sentiment will be more optimistic about the US economic outlook under the second term of Donald Trump's administration.

From the results of the US presidential election to the geopolitical conflict situation in the world, many experts predict that the world gold price will continue to decrease, leading to a decrease in the domestic gold price.

Sharing with Tien Phong, gold expert Tran Duy Phuong predicted that gold prices will continue to decrease following world prices, and the decrease will be stronger, due to many other factors.

“ The world gold price is likely to decline by another 70-80 USD, to around 2,550 USD/ounce. By 2025, gold will likely continue to shine. The gold price may rise again to 2,800 USD, 2,900 USD/ounce this year, but reaching 3,000 USD/ounce is very difficult, ” said gold expert Tran Duy Phuong.

As a businesswoman, in recent days, Ms. Thanh Thao (My Dinh, Hanoi) has been wondering whether or not to sell gold, because she is worried that the price of gold will continue to decrease in the coming days. "When the US presidential election results came out, I also wondered whether or not to sell gold because when Donald Trump becomes President, it will boost the USD, causing the Fed to temporarily stop the easing cycle if inflation spikes after the expected application of new tariffs."

In the context of the domestic gold price falling, experts say that this is the right time for investors to buy gold for investment or storage. However, experts recommend that investors should not "go all in" and rush to buy all the gold for investment at once.

For those who want to sell, experts also note that they should consider. Because in the past 2 days when the gold price decreased, many people also rushed to sell gold. "If investors and people buy gold at 60-70 million VND/tael, they can consider selling at this time. In case it is not really necessary, they should wait a bit longer, when the gold price increases again " - economic experts expressed their opinion.

In addition, there is another reason to consider buying gold at this time because the gold market is being controlled by the State Bank, gold investment needs to be carefully considered and one should not "put all eggs in one basket", because domestic gold prices often do not fluctuate in time with world gold prices.

Source: https://congthuong.vn/gia-vang-mieng-gia-vang-nhan-giam-sau-co-nen-mua-vang-dau-tu-358723.html