Gold ring price drops sharply, should I buy now?

This morning (December 15), the price of gold rings continued to fall sharply to 84 million VND/tael. Experts said that the fall in gold prices is a good opportunity to buy.

Saigon Jewelry Company listed gold ring price 83.3 - 84.7 million VND/tael for buying and selling, down half a million VND/tael compared to yesterday morning.

With a similar decrease, Doji Group listed the price of gold rings at 85.3 - 84.6 million VND/tael for buying and selling.

Meanwhile, the price SJC gold businesses, bank keep the listing at 86.3 million VND/tael.

At the same time, the price of gold world listed at 2,648 USD/ounce.

Gold ring price drops by half a million VND/tael (photo: Nhu Y).

Talk to PV Tien Phong , Mr. Nguyen Quang Huy - financial expert of Nguyen Trai University - analyzed, after many months of price increase, world gold has recently undergone a downward adjustment from the highest level at the end of October at 2,716 USD/ounce down to current level around 2,648 USD/ounce.

According to Mr. Huy, historical models around the world show that such corrections are often accompanied by periods of continuous price increases afterwards, causing the wave to discount This temporary situation becomes an attractive opportunity for those looking to buy or increase their gold holdings.

"With ongoing global tensions, gold offers a unique form of wealth insurance. Gold is a widely accepted asset and operates independently of the traditional banking system," said Mr. Huy. said, the Fluctuations in world gold prices directly affect Vietnam's gold prices. This year, gold is still the channel invest Good profit for investors with more than 23% gold rings and 14% SJC gold bars.

Sharing at the recent "Investment 2025: Decoding variables - identifying opportunities" seminar, Mr. Trinh Ha - Strategy expert of Exness Investment Bank - said that the gold buying power of central banks accounts for 20% of the total gold demand of the whole market in 2023. However, by the third quarter of this year, this rate was only 8%, typically the Central Bank of China stopped buying until November before returning to buy.

According to Exness Investment Bank experts, the reason for buying is due to the psychology of avoiding dependence on the USD, but in the coming time, this motivation will weaken, the amount of buying will be 8-10% of the total real gold demand. ETF (investment fund) money flows into gold when there is political instability, but when the instability gradually decreases, combined with the world economy, especially the US, landing safely, money flows do not seek risky assets like gold.

"In the long term, how Donald Trump's policies affect the US economy is a matter of concern for investors. If inflation increases sharply, the US Federal Reserve raises interest rates, and there is a risk of economic recession, investors will turn to gold," Mr. Ha emphasized.

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