After the peak of the morning of the God of Wealth Day on February 26, domestic gold prices entered a state of stagnation, in contrast to the sideways trend in the highlands of world gold. This change clearly reflects market sentiment when the demand for buying gold according to customs has passed the peak.
Domestic gold prices remain flat, buying-selling spread remains large
According to the update at 3:15 PM, the price of gold bars at Bao Tin Minh Chau was listed at 182–185 million VND/tael (buying - selling), unchanged compared to the morning. The price of gold rings also remained unchanged around 181.8–184 million VND/tael.
Meanwhile, SJC gold bar prices are listed by large enterprises at 181.5–184.5 million VND/tael, while SJC gold rings are also anchored at this price range. Thus, the domestic gold price level after peak hours is almost no longer strongly fluctuating, but the buying-selling difference still maintains around 3 million VND/tael, a high level compared to convention.
The fact that the price range has not narrowed shows that gold businesses still maintain a risk-prevention mindset, in the context that buying demand has cooled down but international market fluctuations are still latent.
World gold prices hold high, technical resistance pressure is increasingly clear
On the international market, as of 3:16 PM on February 26, spot gold prices traded around 5,190.57 USD/ounce, almost flat compared to the morning and maintained stability in a narrow range. The fact that gold prices continuously stand firm above the threshold of 5,100 USD/ounce shows that the medium-term trend is still maintained, reflecting investor confidence in the safe-haven role of precious metals in the context of a still volatile global economy.
However, the upward momentum of world gold is showing signs of slowing down as it approaches the 5,200–5,300 USD/ounce zone, an area assessed by technical analysts as a strong resistance zone. Here, profit-taking pressure begins to appear after a prolonged rally, while momentum indicators such as RSI have returned to high levels, increasing the risk of short-term correction.
According to experts, if no more strong enough information appears to create a new boost, gold prices are likely to continue to fluctuate and accumulate around the current highs instead of breaking out immediately. Conversely, the correction scenario will be activated more clearly if world gold loses the support level of 5,100 USD/ounce, then downward pressure may expand to lower price zones.
Gold prices slow down after the God of Wealth peak as buying power weakens
Domestic developments show that after the demand for buying gold for "luck" peaked in the morning of the God of Wealth Day, buying power quickly weakened in the afternoon, causing domestic gold prices to almost go sideways and no longer react strongly to fluctuations in the international market. This is a familiar characteristic of the domestic gold market during seasonal peak seasons.
Although prices have not increased further, the buying-selling spread is still maintained at a high level, reflecting the cautious sentiment of gold businesses in the face of the risk of world price fluctuations. This large amplitude has significantly increased transaction costs for buyers, especially for those who buy gold with short-term or short-term investment expectations.
In that context, buying gold on the God of Wealth Day continues to be more suitable for the meaning of customs and the psychology of praying for good luck at the beginning of the year. With investment goals, buyers need to consider carefully, because risks come not only from the ability to adjust world gold in the technical resistance zone, but also from the large price difference and the rapid response of the domestic market when demand weakens.
