{"id":76192,"date":"2026-04-28T09:01:04","date_gmt":"2026-04-28T02:01:04","guid":{"rendered":"https:\/\/hbbgroup.net\/vi-sao-quy-vang-lon-nhat-the-gioi-vua-xa-hon-14-tan-vang\/"},"modified":"2026-04-28T09:11:49","modified_gmt":"2026-04-28T02:11:49","slug":"vi-sao-quy-vang-lon-nhat-the-gioi-vua-xa-hon-14-tan-vang","status":"publish","type":"post","link":"https:\/\/hbbgroup.net\/vi\/vi-sao-quy-vang-lon-nhat-the-gioi-vua-xa-hon-14-tan-vang\/","title":{"rendered":"V\u00ec sao qu\u1ef9 v\u00e0ng l\u1edbn nh\u1ea5t th\u1ebf gi\u1edbi v\u1eeba x\u1ea3 h\u01a1n 14 t\u1ea5n v\u00e0ng?"},"content":{"rendered":"
\n

Tu\u1ea7n qua (20-24\/4), qu\u1ef9 SPDR Gold Trust (GLD) – qu\u1ef9 v\u00e0ng ETF l\u1edbn nh\u1ea5t th\u1ebf gi\u1edbi, \u0111\u00e3 b\u00e1n r\u00f2ng t\u1edbi 14,19 t\u1ea5n v\u00e0ng, \u0111\u00e1nh d\u1ea5u \u0111\u1ee3t r\u00fat v\u1ed1n m\u1ea1nh nh\u1ea5t trong nhi\u1ec1u n\u0103m. \u0110\u1ed9ng th\u00e1i n\u00e0y di\u1ec5n ra trong b\u1ed1i c\u1ea3nh th\u1ecb tr\u01b0\u1eddng t\u00e0i ch\u00ednh to\u00e0n c\u1ea7u \u0111ang tr\u1ea3i qua nh\u1eefng bi\u1ebfn \u0111\u1ed9ng kh\u00f3 l\u01b0\u1eddng.<\/p>\n

Nguy\u00ean nh\u00e2n \u0111\u1eb1ng sau<\/strong><\/p>\n

S\u1ed1 li\u1ec7u t\u1eeb c\u00e1c s\u00e0n giao d\u1ecbch cho th\u1ea5y m\u1ee9c gi\u1ea3m di\u1ec5n ra \u0111\u1ec1u \u0111\u1eb7n trong su\u1ed1t c\u1ea3 tu\u1ea7n, kh\u00f4ng c\u00f3 b\u1ea5t k\u1ef3 phi\u00ean mua r\u00f2ng n\u00e0o.<\/p>\n

Cao \u0111i\u1ec3m l\u00e0 ng\u00e0y 22\/4 v\u1edbi l\u01b0\u1ee3ng b\u00e1n ra l\u00ean t\u1edbi 4,57 t\u1ea5n ch\u1ec9 trong m\u1ed9t phi\u00ean. Tu\u1ea7n tr\u01b0\u1edbc, ng\u00e0y 17\/4, qu\u1ef9 n\u00e0y \u0111\u00e3 ghi nh\u1eadn m\u1ee9c t\u0103ng k\u1ef7 l\u1ee5c 7,7 t\u1ea5n, cho th\u1ea5y th\u1ecb tr\u01b0\u1eddng \u0111ang bi\u1ebfn \u0111\u1ed9ng c\u1ef1c k\u1ef3 nhanh ch\u00f3ng v\u00e0 kh\u00f3 \u0111o\u00e1n \u0111\u1ecbnh.<\/p>\n

S\u1ef1 \u0111\u1ea3o chi\u1ec1u m\u1ea1nh m\u1ebd n\u00e0y kh\u00f4ng ph\u1ea3i l\u00e0 hi\u1ec7n t\u01b0\u1ee3ng c\u00e1 bi\u1ec7t m\u00e0 n\u1eb1m trong m\u1ed9t xu h\u01b0\u1edbng l\u1edbn h\u01a1n. Th\u00e1ng 3 v\u1eeba qua, c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 \u0111\u00e3 r\u00fat h\u01a1n 20 t\u1ef7 USD kh\u1ecfi c\u00e1c qu\u1ef9 v\u00e0ng l\u1edbn nh\u1ea5t th\u1ebf gi\u1edbi, \u0111\u00e1nh d\u1ea5u th\u00e1ng t\u1ed3i t\u1ec7 nh\u1ea5t c\u1ee7a v\u00e0ng trong 17 n\u0103m.<\/p>\n

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<\/picture>
Qu\u1ef9 ETF l\u1edbn nh\u1ea5t th\u1ebf gi\u1edbi b\u00e1n v\u00e0ng khi Fed b\u1ebb l\u00e1i ch\u00ednh s\u00e1ch ti\u1ec1n t\u1ec7 gi\u1eefa b\u1ed1i c\u1ea3nh kh\u1ee7ng ho\u1ea3ng n\u0103ng l\u01b0\u1ee3ng leo thang. \u1ea2nh: Benzinga<\/figcaption><\/figure>\n

L\u00fd do c\u1ed1t l\u00f5i khi\u1ebfn d\u00f2ng ti\u1ec1n \u0111\u1ed5 ra kh\u1ecfi v\u00e0ng ETF \u0111\u1ebfn t\u1eeb m\u1ed9t “c\u00fa s\u1ed1c k\u00e9p” tr\u00ean th\u1ecb tr\u01b0\u1eddng to\u00e0n c\u1ea7u.<\/p>\n

Th\u1ee9 nh\u1ea5t, c\u0103ng th\u1eb3ng leo thang t\u1ea1i eo bi\u1ec3n Hormuz khi\u1ebfn gi\u00e1 d\u1ea7u th\u00f4 t\u0103ng v\u1ecdt l\u00ean tr\u00ean 100 USD\/th\u00f9ng. \u0110i\u1ec1u n\u00e0y ngay l\u1eadp t\u1ee9c l\u00e0m gia t\u0103ng n\u1ed7i lo l\u1ea1m ph\u00e1t b\u00f9ng ph\u00e1t tr\u1edf l\u1ea1i, \u0111\u1eb7c bi\u1ec7t khi gi\u00e1 x\u0103ng t\u1ea1i M\u1ef9 \u0111\u00e3 v\u01b0\u1ee3t m\u1ed1c 4 USD\/gallon.<\/p>\n

Th\u1ee9 hai v\u00e0 quan tr\u1ecdng h\u01a1n, C\u1ee5c D\u1ef1 tr\u1eef Li\u00ean bang M\u1ef9 (Fed) \u0111\u00e3 bu\u1ed9c ph\u1ea3i thay \u0111\u1ed5i l\u1eadp tr\u01b0\u1eddng. Tr\u01b0\u1edbc khi x\u1ea3y ra kh\u1ee7ng ho\u1ea3ng, th\u1ecb tr\u01b0\u1eddng k\u1ef3 v\u1ecdng Fed s\u1ebd c\u1eaft gi\u1ea3m l\u00e3i su\u1ea5t \u0111\u1ec3 h\u1ed7 tr\u1ee3 n\u1ec1n kinh t\u1ebf. Tuy nhi\u00ean, \u00e1p l\u1ef1c l\u1ea1m ph\u00e1t t\u1eeb gi\u00e1 d\u1ea7u \u0111\u00e3 khi\u1ebfn Fed “b\u1ebb l\u00e1i” theo h\u01b0\u1edbng th\u1eaft ch\u1eb7t h\u01a1n, s\u1eb5n s\u00e0ng t\u0103ng l\u00e3i su\u1ea5t \u0111\u1ec3 ki\u1ec3m so\u00e1t l\u1ea1m ph\u00e1t.<\/p>\n

V\u00e0ng l\u00e0 t\u00e0i s\u1ea3n kh\u00f4ng sinh l\u1eddi. Trong b\u1ed1i c\u1ea3nh l\u00e3i su\u1ea5t<\/a> t\u0103ng cao, vi\u1ec7c n\u1eafm gi\u1eef v\u00e0ng tr\u1edf n\u00ean k\u00e9m h\u1ea5p d\u1eabn h\u01a1n so v\u1edbi vi\u1ec7c g\u1eedi ti\u1ec1n v\u00e0o tr\u00e1i phi\u1ebfu ch\u00ednh ph\u1ee7 M\u1ef9 \u0111\u1ec3 h\u01b0\u1edfng l\u1ee3i su\u1ea5t cao.<\/p>\n

Ch\u00ednh v\u00ec v\u1eady, c\u00e1c qu\u1ef9 \u0111\u1ea7u t\u01b0 v\u00e0 ng\u00e2n h\u00e0ng trung \u01b0\u01a1ng \u0111\u00e3 \u1ed3 \u1ea1t b\u00e1n th\u00e1o v\u00e0ng \u0111\u1ec3 quay sang n\u1eafm gi\u1eef \u0111\u1ed3ng USD \u0111ang l\u00ean gi\u00e1.<\/p>\n

\u2018Hi\u1ec7u \u1ee9ng domino\u2019 tr\u00ean th\u1ecb tr\u01b0\u1eddng ph\u00e1i sinh<\/strong><\/p>\n

M\u1ed9t y\u1ebfu t\u1ed1 quan tr\u1ecdng kh\u00e1c khi\u1ebfn \u0111\u1ee3t b\u00e1n th\u00e1o di\u1ec5n ra nghi\u00eam tr\u1ecdng nh\u01b0 v\u1eady l\u00e0 t\u00ednh thanh kho\u1ea3n c\u1ee7a c\u00e1c qu\u1ef9 ETF. Kh\u00e1c v\u1edbi v\u00e0ng mi\u1ebfng v\u1eadt ch\u1ea5t, c\u1ed5 phi\u1ebfu qu\u1ef9 ETF c\u00f3 th\u1ec3 \u0111\u01b0\u1ee3c mua b\u00e1n d\u1ec5 d\u00e0ng nh\u01b0 c\u1ed5 phi\u1ebfu ph\u1ed5 th\u00f4ng.<\/p>\n

Khi th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n M\u1ef9 suy y\u1ebfu, c\u00e1c qu\u1ef9 \u0111\u1ea7u t\u01b0 th\u01b0\u1eddng ph\u1ea3i b\u00e1n \u0111i nh\u1eefng t\u00e0i s\u1ea3n \u0111ang c\u00f3 l\u00e3i \u0111\u1ec3 n\u1ed9p k\u00fd qu\u1ef9 (margin call) v\u00e0 v\u00e0ng l\u00e0 “mi\u1ebfng m\u1ed3i ngon” nh\u1ea5t.<\/p>\n

Vi\u1ec7c b\u00e1n th\u00e1o t\u1eeb c\u00e1c t\u1ed5 ch\u1ee9c l\u1edbn k\u00edch ho\u1ea1t thu\u1eadt to\u00e1n giao d\u1ecbch, t\u1ea1o th\u00e0nh m\u1ed9t v\u00f2ng xo\u00e1y gi\u1ea3m gi\u00e1: gi\u00e1 v\u00e0ng gi\u1ea3m, vi\u1ec7c gi\u1ea3i ch\u1ea5p ti\u1ebfp t\u1ee5c k\u00e9o gi\u00e1 v\u00e0ng gi\u1ea3m s\u00e2u h\u01a1n.<\/p>\n

Trong khi c\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 ph\u01b0\u01a1ng T\u00e2y “x\u1ea3” v\u00e0ng th\u00ec m\u1ed9t b\u1ee9c tranh ho\u00e0n to\u00e0n ng\u01b0\u1ee3c l\u1ea1i \u0111ang di\u1ec5n ra \u1edf ch\u00e2u \u00c1.<\/p>\n

C\u00e1c ng\u00e2n h\u00e0ng trung \u01b0\u01a1ng, \u0111\u1eb7c bi\u1ec7t l\u00e0 Trung Qu\u1ed1c, v\u1eabn ti\u1ebfp t\u1ee5c mua v\u00e0o m\u1ed9t l\u01b0\u1ee3ng l\u1edbn v\u00e0ng. Trung Qu\u1ed1c \u0111\u00e3 k\u00e9o d\u00e0i chu\u1ed7i mua v\u00e0ng sang th\u00e1ng th\u1ee9 15 li\u00ean ti\u1ebfp, n\u00e2ng l\u01b0\u1ee3ng d\u1ef1 tr\u1eef l\u00ean h\u01a1n 2.300 t\u1ea5n.<\/p>\n

S\u1ef1 kh\u00e1c bi\u1ec7t n\u00e0y \u0111\u1ebfn t\u1eeb vi\u1ec7c c\u00e1c ng\u00e2n h\u00e0ng trung \u01b0\u01a1ng ch\u00e2u \u00c1 coi v\u00e0ng l\u00e0 t\u00e0i s\u1ea3n chi\u1ebfn l\u01b0\u1ee3c d\u00e0i h\u1ea1n \u0111\u1ec3 ph\u00f2ng ng\u1eeba r\u1ee7i ro \u0111\u1ecba ch\u00ednh tr\u1ecb v\u00e0 s\u1ef1 m\u1ea5t gi\u00e1 c\u1ee7a \u0111\u1ed3ng USD, thay v\u00ec c\u00f4ng c\u1ee5 \u0111\u1ea7u c\u01a1 ng\u1eafn h\u1ea1n nh\u01b0 c\u00e1c qu\u1ef9 ETF ph\u01b0\u01a1ng T\u00e2y.<\/p>\n

Li\u1ec7u \u0111\u1ee3t b\u00e1n th\u00e1o n\u00e0y c\u00f3 ti\u1ebfp di\u1ec5n? C\u00e1c chuy\u00ean gia \u0111ang c\u00f3 quan \u0111i\u1ec3m tr\u00e1i chi\u1ec1u. Goldman Sachs v\u1eabn l\u1ea1c quan v\u00e0 d\u1ef1 b\u00e1o gi\u00e1 v\u00e0ng c\u00f3 th\u1ec3 \u0111\u1ea1t 5.400 USD\/ounce v\u00e0o cu\u1ed1i n\u0103m 2026 nh\u1edd nhu c\u1ea7u t\u00edch tr\u1eef t\u1eeb c\u00e1c ng\u00e2n h\u00e0ng trung \u01b0\u01a1ng.<\/p>\n

Tuy nhi\u00ean, c\u0169ng theo Goldman, n\u1ebfu xung \u0111\u1ed9t t\u1ea1i Iran leo thang v\u00e0 g\u00e2y s\u1ed1c n\u0103ng l\u01b0\u1ee3ng, v\u00e0ng c\u00f3 th\u1ec3 lao d\u1ed1c v\u1ec1 3.800 USD\/ounce tr\u01b0\u1edbc khi h\u1ed3i ph\u1ee5c.<\/p>\n

C\u00e1c nh\u00e0 ph\u00e2n t\u00edch kh\u00e1c cho r\u1eb1ng th\u1ecb tr\u01b0\u1eddng \u0111ang b\u01b0\u1edbc v\u00e0o m\u1ed9t “k\u1ef7 nguy\u00ean l\u1ea1m ph\u00e1t \u0111\u00ecnh tr\u1ec7\u201d, khi t\u0103ng tr\u01b0\u1edfng kinh t\u1ebf suy y\u1ebfu trong khi l\u1ea1m ph\u00e1t v\u1eabn duy tr\u00ec \u1edf m\u1ee9c cao.<\/p>\n

D\u00f9 v\u00e0ng b\u1ecb b\u00e1n th\u00e1o trong ng\u1eafn h\u1ea1n nh\u01b0ng n\u00f3 v\u1eabn \u0111\u01b0\u1ee3c xem l\u00e0 n\u01a1i tr\u00fa \u1ea9n an to\u00e0n trong d\u00e0i h\u1ea1n, \u0111\u1eb7c bi\u1ec7t n\u1ebfu c\u00e1c ng\u00e2n h\u00e0ng trung \u01b0\u01a1ng bu\u1ed9c ph\u1ea3i quay l\u1ea1i n\u1edbi l\u1ecfng ti\u1ec1n t\u1ec7 trong t\u01b0\u01a1ng lai.<\/p>\n

\u0110\u1ee3t b\u00e1n ra 14 t\u1ea5n v\u00e0ng, v\u00ec v\u1eady, kh\u00f4ng ph\u1ea3i l\u00e0 d\u1ea5u ch\u1ea5m h\u1ebft cho k\u1ef7 nguy\u00ean v\u00e0ng, m\u00e0 ch\u1ec9 l\u00e0 m\u1ed9t nh\u1ecbp \u0111i\u1ec1u ch\u1ec9nh k\u1ef9 thu\u1eadt m\u1ea1nh trong m\u1ed9t chu k\u1ef3 \u0111\u1ea7y bi\u1ebfn \u0111\u1ed9ng, khi th\u1ecb tr\u01b0\u1eddng \u0111ang c\u1ed1 g\u1eafng \u0111\u1ecbnh gi\u00e1 l\u1ea1i tr\u01b0\u1edbc b\u1ed1i c\u1ea3nh \u0111\u1ecba ch\u00ednh tr\u1ecb ph\u1ee9c t\u1ea1p v\u00e0 ch\u00ednh s\u00e1ch ti\u1ec1n t\u1ec7 kh\u00f3 \u0111o\u00e1n \u0111\u1ecbnh c\u1ee7a c\u00e1c ng\u00e2n h\u00e0ng trung \u01b0\u01a1ng l\u1edbn.<\/p>\n

Theo Bloomberg, SPDR Gold Trust, WGC, Goldman Sachs<\/em><\/strong><\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"

Tu\u1ea7n qua (20-24\/4), qu\u1ef9 SPDR Gold Trust (GLD) – qu\u1ef9 v\u00e0ng ETF l\u1edbn nh\u1ea5t th\u1ebf gi\u1edbi, \u0111\u00e3 b\u00e1n r\u00f2ng t\u1edbi […]<\/p>","protected":false},"author":5,"featured_media":76193,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[219],"tags":[],"class_list":["post-76192","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-vang"],"acf":[],"_links":{"self":[{"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/posts\/76192","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/comments?post=76192"}],"version-history":[{"count":1,"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/posts\/76192\/revisions"}],"predecessor-version":[{"id":76368,"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/posts\/76192\/revisions\/76368"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/media\/76193"}],"wp:attachment":[{"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/media?parent=76192"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/categories?post=76192"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/tags?post=76192"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}