Gold price goes sideways, short-term investors are worried

The world and domestic gold markets at this time recorded quite opposite developments compared to previous increases. Currently, the world gold price is around 3,395.3 USD/ounce. Domestically, the price of gold bars on July 21 was at 119.7 - 121.5 million VND/tael (buy - sell), almost unchanged compared to the end of last week.

Gold prices have now dropped nearly 1 million VND/tael compared to the time when they reached their record price.

In Ha Tinh market on July 21, the listed price of 9999 gold was 10,860,000 VND/tael for selling and 10,780,000 VND/tael for buying. This price has remained almost unchanged throughout the past time, the increase-decrease difference has not changed much.

According to records, unlike the "fever" of the gold market a few months ago, the buying and selling atmosphere is currently somewhat quiet, and the volume of gold transactions at many stores has also decreased significantly.

Ms. Ha Thi Lieu - owner of Kim Hoan gold shop (Nguyen Cong Tru street, Thanh Sen ward) said: "No longer fluctuating strongly and increasing as in previous months, the gold price in the past few months has only changed a few tens of thousands of dong per day. According to the market rhythm, the demand for buying and selling is often bustling when the price fluctuates strongly because many short-term investors take profits, but when the price is stable like now, people are cautious, and both buying and selling transactions are lower than before."

At a time when gold prices are stable like now, both buying and selling transactions have decreased compared to before.

Ms. Nguyen Thi Xuan - Director of Phuong Xuan Gold and Silver Joint Stock Company (Nguyen Cong Tru Street) said: "Recently, domestic gold prices have shown signs of sideways movement after a series of strong fluctuations. The price is stable but has not decreased deeply, not enough to create waves to stimulate buyers or sellers. Therefore, the market has also "cooled down", customers buying large quantities are very few. Most investors are waiting for new signals from the market".

The price of gold fluctuated slightly and was at a low level compared to a few months ago, making many people feel worried, because when the price of gold continuously reached new peaks, many people rushed to buy with the expectation that the price would increase sharply. However, in the past 2 months, the price of gold has started to decrease and is currently lower than the peak of nearly 1 million VND/tael (the highest price of gold was at the end of April with the selling price of 11,800,000 VND/tael - PV).

On July 21, 9999 gold rings were listed at 10,860,000 VND/tael for sale and 10,780,000 VND/tael for purchase.

Ms. Tran Hai H. (Co Dam commune) said: “In April, the price of gold fluctuated strongly, sometimes buying today and selling tomorrow would make a profit, so transactions on the market were bustling because many people bought to “surf”. Around the beginning of May, I bought 5 taels of gold at the price of 11,320,000 VND/tael, but since then, the price of gold has tended to decrease, the selling price is only around 10,700,000 - 10,900,000 VND/tael. If I sell at this time, I will lose more than 25 million VND for the 5 taels of gold. At first, I only intended to invest in the short term to make a profit, but after more than 2 months, I still haven't been able to sell, so I have to wait because I don't want to sell at a loss”.

The sideways gold price has also made trading in the Ha Tinh market quieter.

Not only Ms. H., many other investors are also in the situation of "holding gold" waiting for new signals from the market.

Ms. Hoang Ng. (Thanh Sen ward) worried: “I invested in gold in May when I saw the price continuously reaching new peaks. At that time, I bought 3 taels of gold for nearly 400 million VND with the expectation that the price of this precious metal would increase further, but then the price went sideways and adjusted down. Recently, the price of gold has increased and decreased but not significantly, the highest daily fluctuation is less than 100,000 VND/tael, the price goes up and down but is always below 11 million VND/tael. Previously, at the time of price fever, there were days when the price "jumped" to 200,000 - 300,000 VND/tael, now selling would be a loss but holding gold would tie up capital, so every day I monitor the price of gold, I just hope for a strong wave to recover some of it".

At this time, people mainly buy gold in small quantities instead of investing in large amounts.

Domestic gold prices are affected by many factors, including world gold prices, domestic and foreign economic and political situations, and government policies. According to experts, the gold market is falling into an accumulation zone, with a narrow trading range showing that investors are standing on the sidelines. One factor that investors are closely watching is the interest rate policy of the US Federal Reserve (Fed) and upcoming US economic data. If US inflation “cools down”, interest rate cuts will increase, which is a strong support factor for gold prices.

In this context, experts advise people to be alert and consider carefully before investing, keep calm, and not "buy at the bottom" or "buy at the top" when there is no clear signal. Those who are holding gold should closely monitor international developments. If there is no urgent need to sell, they can continue to hold it in the short term. For long-term investors, there is no need to worry too much because gold is still considered an asset for storage.

Source: https://baohatinh.vn/gia-vang-di-ngang-nha-dau-tu-ngan-han-thap-thom-lo-post292197.html