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Reviewing investment channels in 2023, Mr. Nguyen Tri Hieu, an economic expert, assessed that it was a year when securities fluctuated, real estate investment incurred losses, and savings interest rates continuously dropped low. while the price of gold is increasing. That’s also the reason why gold is a “valuable” investment channel in 2023.
Mr. Nguyen Tri Hieu further analyzed that, at the end of the year, the price of gold increased significantly and reached a record of 80 million VND/tael. The increase in gold prices may come from political fluctuations that make investors concerned about safe havens for them.
On the other hand, in terms of monetary policy in the US, the US wants to end inflation by increasing interest rates. This policy makes the value of the dollar increase, which puts pressure on the gold price. In 2023, the Federal Reserve of the United States signaled a possible interest rate cut as they have controlled inflation. However, they did not provide an exact timing. This makes investors expect a period of interest rate cuts to occur, meaning the dollar will depreciate and the gold price will increase.
This expectation psychology makes investors continue to buy gold. And by early 2024, the price of gold continued to “climb”.
According to Mr. Nguyen Tri Hieu, if the Government does not have strong measures such as amending Decree 24, the domestic gold price will continue to increase and exceed the threshold of 80 million VND compared to before.
This expert emphasized: “In 2024, gold will still be a safe haven for investors. When the economy is stable, other investment channels such as real estate and securities recover, the price of gold tends to decrease or remain stable. On the contrary, if the economy is still difficult. To conserve, gold prices may increase due to the psychology of people looking to accumulate and hoard gold. ”
According to Mr. Nguyen Tri Hieu, for investors, profits are only one of the motivations for buying gold. Meanwhile, securities in 2024 are still fluctuating, real estate continues to be difficult, and deposit interest rates are low. The profit of gold is still 10%, clearly investors choose gold because gold is still an asset, with high liquidity, good profits and especially safety.”
Projections for other investment channels, Mr. Nguyen Tri Hieu commented that the real estate market will continue to recover in the first half of 2024. It was not until the second half of 2024 that this investment channel could recover if legal issues were resolved.
Meanwhile, bond investment cannot yet be an effective investment channel. Decree 65, in particular, in terms of new credit rating conditions, may have a strong impact on this investment channel. For bank deposits in 2024, interest rates can rise again if the economic situation becomes active again.
In terms of securities, according to Mr. Nguyen Tri Hieu, there are still many risks that make it not a safe investment channel.
