{ "id": 61201, "date": "2026-02-03T09:47:40", "date_gmt": "2026-02-03T02:47:40", "guid": { "rendered": "https:\/\/hbbgroup.net\/hai-diem-khac-biet-cua-dot-giam-gia-vang-nam-2026-so-voi-14-nam-truoc\/" }, "modified": "2026-02-03T09:47:40", "modified_gmt": "2026-02-03T02:47:40", "slug": "hai-diem-khac-biet-cua-dot-giam-gia-vang-nam-2026-so-voi-14-nam-truoc", "status": "publish", "type": "post", "link": "https:\/\/hbbgroup.net\/en_us\/hai-diem-khac-biet-cua-dot-giam-gia-vang-nam-2026-so-voi-14-nam-truoc\/", "title": { "rendered": "Hai \u0111i\u1ec3m kh\u00e1c bi\u1ec7t c\u1ee7a \u0111\u1ee3t gi\u1ea3m gi\u00e1 v\u00e0ng n\u0103m 2026 so v\u1edbi 14 n\u0103m tr\u01b0\u1edbc" }, "content": { "rendered": "
\n

Gi\u00e1 v\u00e0ng \u0111\u00e3 t\u1eebng t\u0103ng m\u1ea1nh v\u00e0 s\u1ee5t gi\u1ea3m trong qu\u00e1 kh\u1ee9<\/strong><\/p>\n

Chia s\u1ebb t\u1ea1i h\u1ecdp b\u00e1o ng\u00e0y 2\/2, \u00f4ng Shaokai Fan, Gi\u00e1m \u0111\u1ed1c khu v\u1ef1c ch\u00e2u \u00c1 – Th\u00e1i B\u00ecnh D\u01b0\u01a1ng (kh\u00f4ng bao g\u1ed3m Trung Qu\u1ed1c) ki\u00eam Gi\u00e1m \u0111\u1ed1c Ng\u00e2n h\u00e0ng Trung \u01b0\u01a1ng to\u00e0n c\u1ea7u c\u1ee7a H\u1ed9i \u0111\u1ed3ng V\u00e0ng Th\u1ebf gi\u1edbi, cho bi\u1ebft, gi\u00e1 v\u00e0ng <\/a>th\u1eddi gian qua bi\u1ebfn \u0111\u1ed9ng m\u1ea1nh, song \u0111\u00e2y kh\u00f4ng ph\u1ea3i l\u1ea7n duy nh\u1ea5t.<\/p>\n

Theo \u00f4ng, v\u00e0ng th\u01b0\u1eddng ph\u1ea3n \u00e1nh nh\u1eefng b\u1ea5t \u1ed5n c\u1ee7a n\u1ec1n kinh t\u1ebf v\u00e0 ch\u00ednh tr\u1ecb th\u1ebf gi\u1edbi. Khi c\u00e1c y\u1ebfu t\u1ed1 r\u1ee7i ro gia t\u0103ng, gi\u00e1 v\u00e0ng l\u1eadp t\u1ee9c ph\u1ea3n \u1ee9ng. Trong qu\u00e1 kh\u1ee9, th\u1ecb tr\u01b0\u1eddng t\u1eebng ch\u1ee9ng ki\u1ebfn nh\u1eefng giai \u0111o\u1ea1n bi\u1ebfn \u0111\u1ed9ng m\u1ea1nh h\u01a1n hi\u1ec7n nay, \u0111i\u1ec3n h\u00ecnh l\u00e0 n\u0103m 1979.<\/p>\n

G\u1ea7n \u0111\u00e2y nh\u1ea5t, giai \u0111o\u1ea1n 2010-2012 c\u0169ng ghi nh\u1eadn bi\u1ebfn \u0111\u1ed9ng l\u1edbn c\u1ee7a gi\u00e1 v\u00e0ng. Trong b\u1ed1i c\u1ea3nh kh\u1ee7ng ho\u1ea3ng t\u00e0i ch\u00ednh to\u00e0n c\u1ea7u d\u1ea7n k\u1ebft th\u00fac, C\u1ee5c D\u1ef1 tr\u1eef Li\u00ean bang M\u1ef9 (Fed) th\u1ef1c hi\u1ec7n ch\u00ednh s\u00e1ch n\u1edbi l\u1ecfng \u0111\u1ecbnh l\u01b0\u1ee3ng, khi\u1ebfn gi\u00e1 v\u00e0ng t\u0103ng m\u1ea1nh v\u00e0 \u0111\u1ea1t \u0111\u1ec9nh v\u00e0o n\u0103m 2012.<\/p>\n

Tuy nhi\u00ean, sau \u0111\u00f3, khi nh\u1eefng lo ng\u1ea1i v\u1ec1 t\u00e1c \u0111\u1ed9ng ti\u00eau c\u1ef1c c\u1ee7a n\u1edbi l\u1ecfng \u0111\u1ecbnh l\u01b0\u1ee3ng kh\u00f4ng tr\u1edf th\u00e0nh hi\u1ec7n th\u1ef1c, nh\u00e0 \u0111\u1ea7u t\u01b0 kh\u00f4ng c\u00f2n nhu c\u1ea7u n\u1eafm gi\u1eef v\u00e0ng nh\u01b0 tr\u01b0\u1edbc, d\u1eabn \u0111\u1ebfn \u0111\u1ee3t \u0111i\u1ec1u ch\u1ec9nh s\u00e2u.<\/p>\n

\"ong<\/picture>
\u00d4ng Shaokai Fan, Gi\u00e1m \u0111\u1ed1c khu v\u1ef1c ch\u00e2u \u00c1 – Th\u00e1i B\u00ecnh D\u01b0\u01a1ng (kh\u00f4ng bao g\u1ed3m Trung Qu\u1ed1c) ki\u00eam Gi\u00e1m \u0111\u1ed1c Ng\u00e2n h\u00e0ng Trung \u01b0\u01a1ng to\u00e0n c\u1ea7u c\u1ee7a H\u1ed9i \u0111\u1ed3ng V\u00e0ng Th\u1ebf gi\u1edbi.\u00a0<\/figcaption><\/figure>\n

So s\u00e1nh v\u1edbi \u0111\u1ee3t bi\u1ebfn \u0111\u1ed9ng hi\u1ec7n nay, \u00f4ng Shaokai Fan cho r\u1eb1ng, n\u0103m 2026 c\u00f3 hai \u0111i\u1ec3m kh\u00e1c bi\u1ec7t c\u01a1 b\u1ea3n so v\u1edbi n\u0103m 2012.<\/p>\n

Th\u1ee9 nh\u1ea5t, c\u00e1c y\u1ebfu t\u1ed1 h\u1ed7 tr\u1ee3 gi\u00e1 v\u00e0ng hi\u1ec7n v\u1eabn t\u1ed3n t\u1ea1i m\u1ea1nh m\u1ebd. \u0110\u00f3 l\u00e0 b\u1ea5t \u1ed5n \u0111\u1ecba ch\u00ednh tr\u1ecb k\u00e9o d\u00e0i, xu h\u01b0\u1edbng l\u00e3i su\u1ea5t c\u00f3 kh\u1ea3 n\u0103ng ti\u1ebfp t\u1ee5c gi\u1ea3m v\u00e0 nh\u1eefng nghi v\u1ea5n v\u1ec1 t\u00ednh \u0111\u1ed9c l\u1eadp c\u1ee7a Fed. Ba nh\u00e2n t\u1ed1 n\u00e0y kh\u00f3 c\u00f3 th\u1ec3 s\u1edbm bi\u1ebfn m\u1ea5t, qua \u0111\u00f3 ti\u1ebfp t\u1ee5c t\u1ea1o \u0111\u1ed9ng l\u1ef1c cho nhu c\u1ea7u mua v\u00e0ng.<\/p>\n

Th\u1ee9 hai, c\u01a1 c\u1ea5u nh\u00e0 \u0111\u1ea7u t\u01b0 \u0111\u00e3 thay \u0111\u1ed5i \u0111\u00e1ng k\u1ec3. N\u1ebfu nh\u01b0 n\u0103m 2012, l\u1ef1c mua ch\u1ee7 y\u1ebfu \u0111\u1ebfn t\u1eeb c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 ph\u01b0\u01a1ng T\u00e2y th\u00ec \u0111\u1ebfn n\u0103m 2026, ng\u00e0y c\u00e0ng nhi\u1ec1u th\u1ecb tr\u01b0\u1eddng, th\u00e0nh vi\u00ean tham gia. T\u00ednh to\u00e0n c\u1ea7u h\u00f3a c\u1ee7a d\u00f2ng v\u1ed1n khi\u1ebfn th\u1ecb tr\u01b0\u1eddng v\u00e0ng n\u0103m 2026 kh\u00e1c n\u0103m 2012.<\/p>\n

Nh\u1eefng y\u1ebfu t\u1ed1 t\u00e1c \u0111\u1ed9ng \u0111\u1ebfn xu h\u01b0\u1edbng gi\u00e1 v\u00e0ng<\/strong><\/p>\n

\u00d4ng Shaokai Fan cho r\u1eb1ng hi\u1ec7n r\u1ea5t kh\u00f3 \u0111\u01b0a ra d\u1ef1 b\u00e1o gi\u00e1 v\u00e0ng ti\u1ebfp t\u1ee5c \u0111i l\u00ean, \u0111i ngang hay \u0111i xu\u1ed1ng trong th\u1eddi gian t\u1edbi.<\/p>\n

Tuy nhi\u00ean, \u00f4ng l\u01b0u \u00fd hai y\u1ebfu t\u1ed1 quan tr\u1ecdng nh\u00e0 \u0111\u1ea7u t\u01b0 c\u1ea7n theo d\u00f5i. Th\u1ee9 nh\u1ea5t l\u00e0 kh\u1ea3 n\u0103ng Fed c\u1eaft gi\u1ea3m l\u00e3i su\u1ea5t trong th\u1eddi gian t\u1edbi, y\u1ebfu t\u1ed1 \u0111\u01b0\u1ee3c \u0111\u00e1nh gi\u00e1 s\u1ebd c\u00f3 t\u00e1c \u0111\u1ed9ng t\u00edch c\u1ef1c \u0111\u1ebfn gi\u00e1 v\u00e0ng. Th\u1ee9 hai l\u00e0 nh\u1eefng b\u1ea5t \u1ed5n trong ch\u00ednh s\u00e1ch th\u01b0\u01a1ng m\u1ea1i to\u00e0n c\u1ea7u, v\u1ed1n th\u01b0\u1eddng th\u00fac \u0111\u1ea9y nhu c\u1ea7u tr\u00fa \u1ea9n.<\/p>\n

Hai y\u1ebfu t\u1ed1 n\u00e0y \u0111\u01b0\u1ee3c k\u1ef3 v\u1ecdng s\u1ebd ti\u1ebfp t\u1ee5c h\u1ed7 tr\u1ee3 nhu c\u1ea7u v\u00e0ng trong th\u1eddi gian t\u1edbi.<\/p>\n

\u201cT\u00f4i kh\u00f4ng ngh\u0129 ch\u00fang ta n\u00ean d\u1ef1a v\u00e0o l\u1ecbch s\u1eed hay qu\u00e1 kh\u1ee9 \u0111\u1ec3 n\u00f3i v\u1ec1 xu h\u01b0\u1edbng gi\u00e1 v\u00e0ng m\u00e0 n\u00ean nh\u00ecn v\u00e0o th\u1ef1c t\u1ebf \u0111\u1ec3 th\u1ea5y n\u00f3 ph\u1ea3n \u00e1nh nh\u1eefng g\u00ec th\u1ebf gi\u1edbi \u0111ang tr\u1ea3i qua\u201d, \u00f4ng Shaokai Fan nh\u1ea5n m\u1ea1nh.<\/p>\n

Theo \u00f4ng Shaokai Fan, \u0111\u1ee3t t\u0103ng gi\u00e1 \u0111\u1ed9t bi\u1ebfn trong th\u1eddi gian ng\u1eafn, t\u1eeb kho\u1ea3ng 4.500 USD\/ounce l\u00ean 5.000 USD\/ounce ch\u1ec9 trong m\u1ed9t tu\u1ea7n. Vi\u1ec7c gi\u00e1 \u0111i\u1ec1u ch\u1ec9nh sau \u0111\u00f3 l\u00e0 ph\u1ea3n \u00e1nh c\u1ee7a th\u1ecb tr\u01b0\u1eddng sau m\u1ed9t giai \u0111o\u1ea1n t\u0103ng gi\u00e1.<\/p>\n

D\u00f9 v\u1eady, c\u00e1c y\u1ebfu t\u1ed1 n\u1ec1n t\u1ea3ng h\u1ed7 tr\u1ee3 v\u00e0ng v\u1eabn c\u00f2n, trong khi t\u00e2m l\u00fd \u0111\u1ea7u c\u01a1 v\u1eabn t\u1ed3n t\u1ea1i. Do \u0111\u00f3, gi\u00e1 v\u00e0ng nhi\u1ec1u kh\u1ea3 n\u0103ng ti\u1ebfp t\u1ee5c bi\u1ebfn \u0111\u1ed9ng trong th\u1eddi gian t\u1edbi.<\/p>\n

\u00d4ng cho r\u1eb1ng, vai tr\u00f2 c\u1ee7a v\u00e0ng v\u1edbi t\u01b0 c\u00e1ch t\u00e0i s\u1ea3n tr\u00fa \u1ea9n ch\u01b0a b\u1ecb suy gi\u1ea3m. Th\u1ef1c t\u1ebf cho th\u1ea5y, m\u1ed7i khi xu\u1ea5t hi\u1ec7n r\u1ee7i ro \u0111\u1ecba ch\u00ednh tr\u1ecb, gi\u00e1 v\u00e0ng \u0111\u1ec1u ph\u1ea3n \u1ee9ng nhanh. Ch\u1eb3ng h\u1ea1n, khi M\u1ef9 \u0111\u01b0a ra c\u00e1c tuy\u00ean b\u1ed1 li\u00ean quan \u0111\u1ebfn Greenland, gi\u00e1 v\u00e0ng \u0111\u00e3 l\u1eadp t\u1ee9c t\u0103ng m\u1ea1nh.<\/p>\n

Theo \u0111\u1ea1i di\u1ec7n H\u1ed9i \u0111\u1ed3ng V\u00e0ng Th\u1ebf gi\u1edbi, gi\u00e1 v\u00e0ng ch\u1ecbu t\u00e1c \u0111\u1ed9ng c\u1ee7a nhi\u1ec1u y\u1ebfu t\u1ed1, trong \u0111\u00f3 n\u1ed5i b\u1eadt l\u00e0 ch\u00ednh s\u00e1ch ti\u1ec1n t\u1ec7, bi\u1ebfn \u0111\u1ed9ng c\u1ee7a \u0111\u1ed3ng USD v\u00e0 m\u1ee9c \u0111\u1ed9 r\u1ee7i ro to\u00e0n c\u1ea7u.<\/p>\n

Hai y\u1ebfu t\u1ed1 c\u01a1 b\u1ea3n c\u1ea7n \u0111\u1eb7c bi\u1ec7t l\u01b0u \u00fd l\u00e0 di\u1ec5n bi\u1ebfn ch\u00ednh s\u00e1ch v\u00e0 c\u0103ng th\u1eb3ng \u0111\u1ecba ch\u00ednh tr\u1ecb.<\/p>\n

B\u00ean c\u1ea1nh \u0111\u00f3, d\u00f2ng v\u1ed1n v\u00e0o c\u00e1c qu\u1ef9 ho\u00e1n \u0111\u1ed5i danh m\u1ee5c (ETF) c\u0169ng l\u00e0 m\u1ed9t ch\u1ec9 b\u00e1o, song kh\u00f4ng n\u00ean xem \u0111\u00e2y l\u00e0 y\u1ebfu t\u1ed1 duy nh\u1ea5t \u0111\u1ec3 d\u1ef1 b\u00e1o xu h\u01b0\u1edbng gi\u00e1.<\/p>\n

\u201cNh\u00e0 \u0111\u1ea7u t\u01b0 n\u00ean t\u1eadp trung theo d\u00f5i bi\u1ebfn \u0111\u1ed9ng v\u1ec1 l\u00e3i su\u1ea5t, di\u1ec5n bi\u1ebfn \u0111\u1ed3ng USD v\u00e0 c\u0103ng th\u1eb3ng \u0111\u1ecba ch\u00ednh tr\u1ecb, b\u1ea5t \u1ed5n v\u1ec1 ch\u00ednh s\u00e1ch\u201d, \u00f4ng Shaokai Fan khuy\u1ebfn ngh\u1ecb.<\/p>\n

<\/picture><\/a> <\/p>\n
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Gi\u00e1 v\u00e0ng t\u1ee5t h\u00e0ng ch\u1ee5c tri\u1ec7u\/l\u01b0\u1ee3ng, \u0111i\u1ec1u nh\u00e0 \u0111\u1ea7u t\u01b0 kh\u00f4ng th\u1ec3 b\u1ecf qua<\/a>T\u1eeb \u0111\u1ec9nh l\u1ecbch s\u1eed, gi\u00e1 v\u00e0ng b\u1ea5t ng\u1edd gi\u1ea3m s\u00e2u ch\u1ec9 trong th\u1eddi gian ng\u1eafn. Theo chuy\u00ean gia, th\u1ecb tr\u01b0\u1eddng \u0111ang b\u01b0\u1edbc v\u00e0o giai \u0111o\u1ea1n t\u00e1i c\u00e2n b\u1eb1ng sau chu\u1ed7i t\u0103ng m\u1ea1nh v\u00e0 khuy\u1ebfn ngh\u1ecb quan tr\u1ecdng v\u1edbi nh\u00e0 \u0111\u1ea7u t\u01b0.<\/span><\/p>\n<\/div><\/div>", "protected": false }, "excerpt": { "rendered": "

Gi\u00e1 v\u00e0ng \u0111\u00e3 t\u1eebng t\u0103ng m\u1ea1nh v\u00e0 s\u1ee5t gi\u1ea3m trong qu\u00e1 kh\u1ee9 Chia s\u1ebb t\u1ea1i h\u1ecdp b\u00e1o ng\u00e0y 2\/2, \u00f4ng […]<\/p>", "protected": false }, "author": 5, "featured_media": 61202, "comment_status": "open", "ping_status": "open", "sticky": false, "template": "", "format": "standard", "meta": { "_acf_changed": false, "footnotes": "" }, "categories": [ 219 ], "tags": [], "class_list": [ "post-61201", "post", "type-post", "status-publish", "format-standard", "has-post-thumbnail", "hentry", "category-vang" ], "acf": [], "_links": { "self": [ { "href": "https:\/\/hbbgroup.net\/en_us\/wp-json\/wp\/v2\/posts\/61201", "targetHints": { "allow": [ "GET" ] } } ], "collection": [ { "href": "https:\/\/hbbgroup.net\/en_us\/wp-json\/wp\/v2\/posts" } ], "about": [ { "href": "https:\/\/hbbgroup.net\/en_us\/wp-json\/wp\/v2\/types\/post" } ], "author": [ { "embeddable": true, "href": "https:\/\/hbbgroup.net\/en_us\/wp-json\/wp\/v2\/users\/5" } ], "replies": [ { "embeddable": true, "href": "https:\/\/hbbgroup.net\/en_us\/wp-json\/wp\/v2\/comments?post=61201" } ], "version-history": [ { "count": 0, "href": "https:\/\/hbbgroup.net\/en_us\/wp-json\/wp\/v2\/posts\/61201\/revisions" } ], "wp:featuredmedia": [ { "embeddable": true, "href": "https:\/\/hbbgroup.net\/en_us\/wp-json\/wp\/v2\/media\/61202" } ], "wp:attachment": [ { "href": "https:\/\/hbbgroup.net\/en_us\/wp-json\/wp\/v2\/media?parent=61201" } ], "wp:term": [ { "taxonomy": "category", "embeddable": true, "href": "https:\/\/hbbgroup.net\/en_us\/wp-json\/wp\/v2\/categories?post=61201" }, { "taxonomy": "post_tag", "embeddable": true, "href": "https:\/\/hbbgroup.net\/en_us\/wp-json\/wp\/v2\/tags?post=61201" } ], "curies": [ { "name": "wp", "href": "https:\/\/api.w.org\/{rel}", "templated": true } ] } }