{ "id": 76968, "date": "2026-05-04T08:55:03", "date_gmt": "2026-05-04T01:55:03", "guid": { "rendered": "https:\/\/hbbgroup.net\/gia-vang-roi-xa-dinh-lich-su-kich-ban-tut-xuong-4-000-usd-ounce-co-xay-ra\/" }, "modified": "2026-05-04T09:04:07", "modified_gmt": "2026-05-04T02:04:07", "slug": "gia-vang-roi-xa-dinh-lich-su-kich-ban-tut-xuong-4-000-usd-ounce-co-xay-ra", "status": "publish", "type": "post", "link": "https:\/\/hbbgroup.net\/en_us\/gia-vang-roi-xa-dinh-lich-su-kich-ban-tut-xuong-4-000-usd-ounce-co-xay-ra\/", "title": { "rendered": "Gi\u00e1 v\u00e0ng r\u1eddi xa \u0111\u1ec9nh l\u1ecbch s\u1eed, k\u1ecbch b\u1ea3n t\u1ee5t xu\u1ed1ng 4.000 USD\/ounce c\u00f3 x\u1ea3y ra?" }, "content": { "rendered": "
\n

T\u1eeb \u0111\u1ea7u n\u0103m 2026, gi\u00e1 v\u00e0ng th\u1ebf gi\u1edbi \u0111\u00e3 tr\u1ea3i qua m\u1ed9t c\u00fa s\u1ed1c l\u1edbn khi r\u1eddi kh\u1ecfi v\u00f9ng \u0111\u1ec9nh l\u1ecbch s\u1eed g\u1ea7n 5.600 USD\/ounce, hi\u1ec7n giao d\u1ecbch quanh m\u1ee9c 4.600 USD\/ounce. C\u00e2u h\u1ecfi khi\u1ebfn th\u1ecb tr\u01b0\u1eddng lo l\u1eafng l\u00e0 li\u1ec7u \u0111\u00e0 gi\u1ea3m n\u00e0y c\u00f3 \u0111\u01b0a v\u00e0ng xu\u1ed1ng ng\u01b0\u1ee1ng 4.000 USD\/ounce kh\u00f4ng?<\/p>\n

\u00c1p l\u1ef1c k\u00e9p t\u1eeb l\u1ea1m ph\u00e1t v\u00e0 \u0111\u1ecba ch\u00ednh tr\u1ecb<\/strong><\/p>\n

Di\u1ec5n bi\u1ebfn gi\u1ea3m m\u1ea1nh c\u1ee7a kim lo\u1ea1i qu\u00fd \u0111\u1ebfn t\u1eeb nhi\u1ec1u \u00e1p l\u1ef1c c\u00f9ng l\u00fac. Th\u1ee9 nh\u1ea5t<\/em>, l\u1ea1m ph\u00e1t t\u1ea1i M\u1ef9 v\u1eabn dai d\u1eb3ng. C\u1ee5c D\u1ef1 tr\u1eef Li\u00ean bang M\u1ef9 (Fed) v\u1eeba gi\u1eef nguy\u00ean l\u00e3i su\u1ea5t \u1edf m\u1ee9c 3,50%-3,75% trong cu\u1ed9c h\u1ecdp cu\u1ed1i th\u00e1ng 4\/2026.<\/p>\n

Ch\u1ec9 s\u1ed1 PCE, th\u01b0\u1edbc \u0111o l\u1ea1m ph\u00e1t \u01b0a th\u00edch c\u1ee7a Fed, \u0111\u00e3 t\u0103ng 0,7% so v\u1edbi th\u00e1ng tr\u01b0\u1edbc v\u00e0 m\u1ee9c t\u0103ng h\u00e0ng n\u0103m l\u00ean t\u1edbi 3,5% trong th\u00e1ng 3, cao h\u01a1n \u0111\u00e1ng k\u1ec3 so v\u1edbi m\u1ee9c 2,8% c\u1ee7a th\u00e1ng 2.<\/p>\n

\u0110i\u1ec1u n\u00e0y c\u1ee7ng c\u1ed1 k\u1ef3 v\u1ecdng Fed s\u1ebd duy tr\u00ec l\u00e3i su\u1ea5t cao trong th\u1eddi gian d\u00e0i, \u0111\u00e2y l\u00e0 y\u1ebfu t\u1ed1 b\u1ea5t l\u1ee3i h\u00e0ng \u0111\u1ea7u v\u1edbi t\u00e0i s\u1ea3n kh\u00f4ng sinh l\u1eddi nh\u01b0 v\u00e0ng.<\/p>\n

\"\"<\/p>\n

<\/picture>
V\u00e0ng \u0111ang ch\u1ecbu \u00e1p l\u1ef1c k\u00e9p t\u1eeb l\u1ea1m ph\u00e1t cao v\u00e0 l\u00e3i su\u1ea5t M\u1ef9 neo cao. \u1ea2nh: Bloomberg<\/figcaption><\/figure>\n

Th\u1ee9 hai<\/em>, c\u0103ng th\u1eb3ng \u0111\u1ecba ch\u00ednh tr\u1ecb leo thang. T\u1ed5ng th\u1ed1ng M\u1ef9 Donald Trump tuy\u00ean b\u1ed1 duy tr\u00ec phong t\u1ecfa h\u1ea3i qu\u00e2n c\u00e1c c\u1ea3ng c\u1ee7a Iran, trong khi Tehran kh\u1eb3ng \u0111\u1ecbnh kh\u00f4ng t\u1eeb b\u1ecf ch\u01b0\u01a1ng tr\u00ecnh h\u1ea1t nh\u00e2n.<\/p>\n

Eo bi\u1ec3n Hormuz, tuy\u1ebfn v\u1eadn chuy\u1ec3n d\u1ea7u th\u00f4 huy\u1ebft m\u1ea1ch c\u1ee7a th\u1ebf gi\u1edbi, \u0111ang \u1edf tr\u1ea1ng th\u00e1i g\u1ea7n nh\u01b0 \u0111\u00f3ng c\u1eeda, \u0111\u1ea9y gi\u00e1 n\u0103ng l\u01b0\u1ee3ng t\u0103ng cao v\u00e0 th\u1ed5i b\u00f9ng lo ng\u1ea1i l\u1ea1m ph\u00e1t. \u0110i\u1ec1u n\u00e0y v\u00f4 t\u00ecnh khi\u1ebfn c\u00e1c ng\u00e2n h\u00e0ng trung \u01b0\u01a1ng c\u00e0ng kh\u00f3 c\u1eaft gi\u1ea3m l\u00e3i su\u1ea5t, t\u1ea1o \u00e1p l\u1ef1c k\u00e9p l\u00ean v\u00e0ng.<\/p>\n

Ho\u00e0n to\u00e0n c\u00f3 kh\u1ea3 n\u0103ng d\u01b0\u1edbi 4.000 USD\/ounce<\/strong><\/p>\n

\u0110\u00e1ng ch\u00fa \u00fd nh\u1ea5t trong tu\u1ea7n qua l\u00e0 s\u1ef1 thay \u0111\u1ed5i quan \u0111i\u1ec3m c\u1ee7a Jeffrey Gundlach, ng\u01b0\u1eddi s\u00e1ng l\u1eadp ki\u00eam CEO c\u1ee7a qu\u1ef9 \u0111\u1ea7u t\u01b0 tr\u00e1i phi\u1ebfu h\u00e0ng \u0111\u1ea7u th\u1ebf gi\u1edbi DoubleLine Capital.<\/p>\n

Trong cu\u1ed9c ph\u1ecfng v\u1ea5n v\u1edbi CNBC<\/em> ngay sau cu\u1ed9c h\u1ecdp c\u1ee7a Fed, Gundlach tuy\u00ean b\u1ed1 \u00f4ng s\u1ebd kh\u00f4ng ng\u1ea1c nhi\u00ean n\u1ebfu v\u00e0ng r\u01a1i xu\u1ed1ng d\u01b0\u1edbi 4.000 USD\/ounce tr\u01b0\u1edbc khi ph\u1ee5c h\u1ed3i tr\u1edf l\u1ea1i.<\/p>\n

Nh\u01b0ng quan tr\u1ecdng h\u01a1n, \u00f4ng \u0111ang h\u00e0nh \u0111\u1ed9ng. Gundlach cho bi\u1ebft \u00f4ng \u0111\u00e3 c\u1eaft gi\u1ea3m t\u1ef7 tr\u1ecdng v\u00e0ng trong danh m\u1ee5c \u0111\u1ea7u t\u01b0 t\u1eeb m\u1ee9c khuy\u1ebfn ngh\u1ecb 25% xu\u1ed1ng c\u00f2n kho\u1ea3ng 10%, \u0111\u1ed3ng th\u1eddi l\u01b0u \u00fd c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 “t\u00e1i c\u00e2n b\u1eb1ng” t\u01b0\u01a1ng t\u1ef1.<\/p>\n

L\u00fd gi\u1ea3i cho \u0111\u1ed9ng th\u00e1i n\u00e0y, Gundlach n\u00f3i r\u1eb1ng gi\u00e1 v\u00e0ng<\/a> \u0111\u00e3 ch\u1ea1m “m\u1ee9c cao ch\u00f3ng m\u1eb7t” v\u00e0 \u0111\u1ee3t gi\u1ea3m hi\u1ec7n t\u1ea1i c\u00f3 th\u1ec3 c\u00f2n nhi\u1ec1u d\u01b0 \u0111\u1ecba h\u01a1n tr\u01b0\u1edbc khi t\u00ecm th\u1ea5y \u0111\u00e1y.<\/p>\n

Tuy nhi\u00ean, \u00f4ng v\u1eabn l\u1ea1c quan trong d\u00e0i h\u1ea1n: “Qu\u00e1 tr\u00ecnh gi\u1ea3m n\u00e0y ch\u00ednh l\u00e0 c\u01a1 h\u1ed9i \u0111\u1ec3 t\u00ecm ra \u0111i\u1ec3m v\u00e0o r\u1ebb h\u01a1n” v\u00e0 kh\u1eb3ng \u0111\u1ecbnh tri\u1ec3n v\u1ecdng 4.000 USD v\u1eabn l\u00e0 m\u1ee5c ti\u00eau d\u00e0i h\u1ea1n.<\/p>\n

C\u00e1c t\u1ed5 ch\u1ee9c l\u1edbn v\u1eefng tin<\/strong><\/p>\n

\u1ede chi\u1ec1u ng\u01b0\u1ee3c l\u1ea1i, \u0111a s\u1ed1 c\u00e1c t\u1ed5 ch\u1ee9c t\u00e0i ch\u00ednh l\u1edbn v\u1eabn gi\u1eef quan \u0111i\u1ec3m l\u1ea1c quan h\u01a1n. H\u1ecd cho r\u1eb1ng \u0111\u1ee3t gi\u1ea3m ch\u1ec9 l\u00e0 nh\u1ecbp \u0111i\u1ec1u ch\u1ec9nh k\u1ef9 thu\u1eadt sau chu\u1ed7i t\u0103ng n\u00f3ng.<\/p>\n

T\u1eadp \u0111o\u00e0n t\u00e0i ch\u00ednh h\u00e0ng \u0111\u1ea7u Citibank d\u1ef1 b\u00e1o trong 3 th\u00e1ng t\u1edbi, gi\u00e1 v\u00e0ng c\u00f3 th\u1ec3 ch\u1ecbu \u00e1p l\u1ef1c gi\u1ea3m v\u1ec1 4.300 USD\/ounce, nh\u01b0ng nh\u1edd s\u1ee9c h\u00fat c\u1ee7a t\u00e0i s\u1ea3n tr\u00fa \u1ea9n, gi\u00e1 s\u1ebd ph\u1ee5c h\u1ed3i m\u1ea1nh l\u00ean 5.000 USD\/ounce trong v\u00f2ng 6-12 th\u00e1ng t\u1edbi.<\/p>\n

UBS v\u1eabn coi v\u00f9ng gi\u00e1 4.400-4.600 USD\/ounce l\u00e0 “\u0111i\u1ec3m ng\u1ecdt ng\u00e0o” (sweet spot<\/em>) \u0111\u1ec3 mua v\u00e0ng, v\u1edbi k\u1ef3 v\u1ecdng 5.900 USD v\u00e0o cu\u1ed1i n\u0103m.<\/p>\n

\u0110i\u1ec1u tr\u1edb tr\u00eau l\u00e0 ngay c\u1ea3 Gundlach, ng\u01b0\u1eddi \u0111ang b\u00e1n ra, c\u0169ng th\u1eeba nh\u1eadn: “V\u00e0ng kh\u00f4ng c\u00f2n l\u00e0 c\u00f4ng c\u1ee5 \u0111\u1ea7u c\u01a1 ng\u1eafn h\u1ea1n c\u1ee7a c\u00e1c nh\u00e0 giao d\u1ecbch n\u1eefa m\u00e0 \u0111\u00e3 tr\u1edf th\u00e0nh t\u00e0i s\u1ea3n n\u1eafm gi\u1eef d\u00e0i h\u1ea1n. Ng\u01b0\u1eddi ta lo ng\u1ea1i v\u1ec1 b\u1ea5t \u1ed5n \u0111\u1ecba ch\u00ednh tr\u1ecb, thu\u1ebf quan v\u00e0 g\u00e1nh n\u1eb7ng n\u1ee3. V\u00e0ng l\u00e0 t\u00e0i s\u1ea3n ti\u1ec1n t\u1ec7 th\u1ef1c s\u1ef1”.<\/p>\n

Ph\u00e2n t\u00edch k\u1ef9 thu\u1eadt cho th\u1ea5y v\u00e0ng \u0111ang giao d\u1ecbch quanh v\u00f9ng 4.600-4.650 USD\/ounce, v\u1edbi ng\u01b0\u1ee1ng kh\u00e1ng c\u1ef1 ng\u1eafn h\u1ea1n t\u1ea1i 4.650 USD.<\/p>\n

M\u1ee9c 4.000 USD\/ounce \u0111\u01b0\u1ee3c xem l\u00e0 ng\u01b0\u1ee1ng t\u00e2m l\u00fd quan tr\u1ecdng, b\u1edfi \u0111\u00e2y l\u00e0 c\u1ed9t m\u1ed1c m\u00e0 v\u00e0ng chinh ph\u1ee5c v\u00e0 thi\u1ebft l\u1eadp trong n\u0103m 2025. Vi\u1ec7c gi\u00e1 quay l\u1ea1i ki\u1ec3m \u0111\u1ecbnh m\u1ed1c n\u00e0y cho th\u1ea5y \u0111\u00e2y s\u1ebd l\u00e0 v\u00f9ng tranh ch\u1ea5p quy\u1ebft li\u1ec7t gi\u1eefa b\u00ean mua v\u00e0 b\u00ean b\u00e1n.<\/p>\n

Th\u1ecb tr\u01b0\u1eddng \u0111ang bi\u1ebfn \u0111\u1ed9ng m\u1ea1nh, c\u00e1c chuy\u00ean gia khuy\u1ebfn ngh\u1ecb nh\u00e0 \u0111\u1ea7u t\u01b0 c\u00e1 nh\u00e2n kh\u00f4ng n\u00ean h\u00e0nh \u0111\u1ed9ng theo t\u00e2m l\u00fd b\u1ea7y \u0111\u00e0n.<\/p>\n

Vi\u1ec7c “b\u1eaft dao r\u01a1i” (mua v\u00e0o khi gi\u00e1 \u0111ang lao d\u1ed1c) ti\u1ec1m \u1ea9n r\u1ee7i ro l\u1edbn n\u1ebfu v\u00e0ng ti\u1ebfp t\u1ee5c xu h\u01b0\u1edbng gi\u1ea3m v\u1ec1 4.000 USD.<\/p>\n

Thay v\u00e0o \u0111\u00f3, chi\u1ebfn l\u01b0\u1ee3c \u0111\u1ea7u t\u01b0 trung b\u00ecnh gi\u00e1 (DCA), t\u1ee9c chia nh\u1ecf v\u1ed1n mua v\u00e0o nhi\u1ec1u l\u1ea7n \u1edf c\u00e1c m\u1ee9c gi\u00e1 kh\u00e1c nhau ho\u1eb7c ki\u00ean nh\u1eabn ch\u1edd t\u00edn hi\u1ec7u \u0111\u1ea3o chi\u1ec1u r\u00f5 r\u00e0ng (nh\u01b0 khi gi\u00e1 h\u00ecnh th\u00e0nh \u0111\u00e1y cao h\u01a1n ho\u1eb7c ph\u00e1 v\u1ee1 xu h\u01b0\u1edbng gi\u1ea3m) \u0111\u01b0\u1ee3c \u0111\u00e1nh gi\u00e1 l\u00e0 h\u1ee3p l\u00fd h\u01a1n, gi\u00fap nh\u00e0 \u0111\u1ea7u t\u01b0 ki\u1ec3m so\u00e1t r\u1ee7i ro thay v\u00ec \u0111o\u00e1n \u0111\u00e1y trong bi\u1ebfn \u0111\u1ed9ng m\u1ea1nh.<\/p>\n

T\u1eed Huy<\/a><\/strong><\/div>", "protected": false }, "excerpt": { "rendered": "

T\u1eeb \u0111\u1ea7u n\u0103m 2026, gi\u00e1 v\u00e0ng th\u1ebf gi\u1edbi \u0111\u00e3 tr\u1ea3i qua m\u1ed9t c\u00fa s\u1ed1c l\u1edbn khi r\u1eddi kh\u1ecfi v\u00f9ng \u0111\u1ec9nh […]<\/p>", "protected": false }, "author": 5, "featured_media": 76972, "comment_status": "open", "ping_status": "open", "sticky": false, "template": "", "format": "standard", "meta": { "_acf_changed": false, "footnotes": "" }, "categories": [ 219 ], "tags": [], "class_list": [ "post-76968", "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\/76968", "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=76968" } ], "version-history": [ { "count": 1, "href": "https:\/\/hbbgroup.net\/en_us\/wp-json\/wp\/v2\/posts\/76968\/revisions" } ], "predecessor-version": [ { "id": 77084, "href": "https:\/\/hbbgroup.net\/en_us\/wp-json\/wp\/v2\/posts\/76968\/revisions\/77084" } ], "wp:featuredmedia": [ { "embeddable": true, "href": "https:\/\/hbbgroup.net\/en_us\/wp-json\/wp\/v2\/media\/76972" } ], "wp:attachment": [ { "href": "https:\/\/hbbgroup.net\/en_us\/wp-json\/wp\/v2\/media?parent=76968" } ], "wp:term": [ { "taxonomy": "category", "embeddable": true, "href": "https:\/\/hbbgroup.net\/en_us\/wp-json\/wp\/v2\/categories?post=76968" }, { "taxonomy": "post_tag", "embeddable": true, "href": "https:\/\/hbbgroup.net\/en_us\/wp-json\/wp\/v2\/tags?post=76968" } ], "curies": [ { "name": "wp", "href": "https:\/\/api.w.org\/{rel}", "templated": true } ] } }