Increased by 1.4 million VND in a day, the most expensive gold price in history is 78.4 million VND/tael

Specifically, at 4:30 p.m. on December 25, the gold price at Doji was listed at 77.4 - 78.4 million VND/tael (buy - sell), an increase of 1.6 - 1.4 million VND/tael (buy - sell) compared to early this morning.

At the same time, the gold price at SJC was listed at 77.4 - 78.4 million VND/tael (buy - sell), an increase of 1.4 million VND/tael in both directions.

Thus, in just one trading day, the gold price increased by 1.4 - 1.6 million VND/tael. The level of 78.4 million VND/tael is also the most expensive price in history up to now and there is no sign that the gold price has stopped increasing.

The last months of 2023 recorded an incredible acceleration of gold prices in the Vietnamese market when they continuously broke unprecedented records in history.

Since the end of December 19, gold prices have continuously surprised by breaking one record after another.

Specifically, at the end of the trading session on December 19, the gold price climbed to 74.9 million VND/tael, breaking the record of 74.5 million VND/tael set on November 29.

However, surprisingly, the price of gold did not stop at 74.9 million VND/tael for long. The very next morning (December 20), the price of the precious metal reached a new peak when it climbed to 75.62 million VND/tael.

In the following days, gold prices continuously set new record highs. Specifically, on December 21, gold prices reached 76 million VND/tael.

Notably, in the trading session on December 22, within just 3 hours, the gold price set 3 new peaks of 77 million VND/tael; 77.3 and 77.4 million VND/tael.

However, this peak only lasted until early afternoon on December 22. Then the gold price suddenly reversed and continuously decreased. At the end of the session on December 22, the gold price evaporated 600,000 VND/tael to 76.8 million VND/tael.

And today (December 25), although the world gold price remained stable, the domestic price recovered strongly, regaining the 77 million VND mark, setting a record of 77.5 million VND in just the morning and twice breaking the record just set to reach new peaks of 78 and 78.4 million VND/tael.

Gold prices have set an all-time record but are still on an upward trend, causing many people to hoard. Experts have warned about this.

According to Dr. Nguyen Bich Lam, former General Director of the General Statistics Office, the current gold price is at its peak, the reason is the unpredictable fluctuations of the world economy. However, according to Mr. Lam, the gold price is very erratic, it can go up but can also fall immediately. Therefore, buying gold for storage at this time is not advisable, because the gold price is currently too high, even much different from the world price.

Associate Professor Dr. Dinh Trong Thinh advised: “Gold buyers should be cautious when domestic gold prices are constantly increasing and not completely in sync with world gold prices. In the long term, domestic gold prices will also fluctuate up and down according to world prices, so a reversal is entirely possible. In particular, people should not buy gold when gold prices fluctuate erratically and are too high.”