In the context of the price of SJC gold bars 'stagnating', many gold investors are restless. They do not know whether it is reasonable to buy or sell gold at this time.
At 11:00 a.m. on November 15, the price of SJC gold was listed by Saigon Jewelry Company Limited at 80 - 83.5 million VND/tael for buying and selling.
Similarly, the price of SJC gold at DOJI Group is also listed at 80-83.5 million VND/tael. Bao Tin Minh Chau listed the price of SJC gold at 80-83.5 million VND/tael.
Thus, compared to 5:30 a.m. the same day, the price of SJC gold at these units is still and unchanged.
At the same time at 11:00 a.m. on November 15, the world gold price was trading around 2,568 USD/ounce. Gold futures last traded at 2,570.5 USD/ounce, down 10.8 USD compared to early this morning.
SJC gold bar prices recorded their fifth consecutive decline and hit a two-month low as they continued to be pressured by the strength of the USD.
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| SJC gold price 'stands still', investors are restless, not knowing whether it is reasonable to buy or sell. Photo: Anh Hoang |
Meanwhile, the price of gold rings and jewelry of all kinds increased again. SJC traded 99.99 gold rings at 79.1 million VND/tael for buying and 81.8 million VND/tael for selling, an increase of 100,000 VND/tael compared to yesterday. The price of gold rings also stopped decreasing after many consecutive days of decline.
PNJ Company sells plain gold rings at 81.9 million VND/tael; DOJI sells at 82.1 million VND/tael while Mi Hong Company sells at 82 million VND/tael, 100,000 - 200,000 VND higher than SJC Company's selling price.
Analyzing the reasons for the sharp drop in gold prices in recent days, some economic experts said that gold prices were partly affected by the results of the US election.
Not to mention, recently, the Chairman of the US Federal Reserve (Fed) Jerome Powell met with business leaders in the Dallas-Fort Worth area to discuss monetary policy. Here, Mr. Powell said the Fed does not need to rush to cut interest rates.
“After the Fed Chairman's unexpected announcement, the gold market immediately fluctuated, the world spot gold price dropped tens of dollars in just a few hours, falling to 2,540 USD/ounce ” - experts observed and predicted that the world and domestic gold prices will continue to decline.
In the context of falling gold prices, many investors and people have quickly bought gold for investment and storage. Because they believe that this is a good time to buy because the price is in a much more reasonable range than before. In the near future, the gold price will turn around and increase again.
According to financial expert Nguyen Tri Hieu, gold has fluctuated a lot and gold rings have brought investors more than 30% profit from their investments since the beginning of the year, so it is time to think about taking profits.
However, economic experts recommend and advise that for those who want to sell gold, at this time, those who own gold should consider and not sell it in a hurry if they do not really need the money.
"If investors buy gold at 60-70 million VND/tael, they can consider selling because the profit is attractive. However, if they don't really need the money, they should consider it. If they choose to invest in gold at this time, they must be very careful because the price of gold is still very unpredictable" - experts recommend and advise.
Source: https://congthuong.vn/gia-vang-mieng-sjc-giam-chan-tai-cho-nha-dau-tu-can-luu-y-nhung-gi-358908.html
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