At 9:15 this morning, the price of gold bars was listed by Doji and SJC at 120 - 122 million VND/tael (buy - sell), an increase of 500,000 VND/tael compared to early this morning.
Similarly, Doji listed the price of gold rings at 116.6 - 119.1 million VND/tael (buy - sell), an increase of 500,000 VND/tael.
Domestic gold prices today increased following the increase in world gold prices. World gold prices are currently listed on Kitco at 3,398 USD/ounce, a sharp increase of 53 USD/ounce compared to early this morning.
Gold prices rose as the dollar weakened and US Treasury Secretary Scott Bessent tried to convince President Donald Trump not to fire Federal Reserve Chairman Jerome Powell.
Bessent warned that firing Mr. Powell would raise serious doubts about the Fed's independence, potentially putting pressure on the dollar and pushing up Treasury yields.
Last week, news of the Fed Chairman’s ouster sent shockwaves through financial markets and sent gold prices soaring. Shortly afterward, President Trump softened his tone and said he was not considering firing Mr. Powell.
In addition, the USD index fell against other major currencies, making gold cheaper for holders of other currencies.
Giving advice to investors at this time, economic expert Nguyen Tri Hieu said that if you have idle money, you should not focus all of it on gold but should allocate it to many different channels such as stocks, real estate, bank deposits, etc.
On the contrary, for those who have gold reserves and want to sell it to make a profit, they can calculate whether the current profit level is suitable for their set goals or not.
“ If you invest in gold to make a profit, you need to set a target of how much profit you will make each year. That way, you can calculate the price of gold you want to sell at, and when you reach your profit target, you can sell to take profit ,” Mr. Hieu advised.
Expert Tran Duy Phuong also said that for those who buy gold for investment, the current price range is ideal for selling for profit.
" To determine the time to sell gold, investors need to plan their expected profit level and should be satisfied with the planned profit level and not regret thinking that the gold price will continue to increase, " said Mr. Phuong.
For example, he said, we buy gold at 100 million VND/tael and set a profit target of 10 million VND/tael. So, when the gold price reaches 110 million VND or 118 million VND/tael as it is now, the profit target is guaranteed, or even exceeded, then investors should sell to take profit.
" You shouldn't think that the gold price will increase and regret not selling it. That's very risky in a volatile context ," Mr. Phuong analyzed.
Experts also recommend that gold investors need to be careful and research the market thoroughly to ensure they buy gold when the price is at its lowest possible level and sell when the price is at its highest or reaches their interest rate expectations.
VTC NewsSource: https://baohaiphongplus.vn/vang-trong-nuoc-dat-nhat-1-thang-416968.html
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