{"id":57041,"date":"2025-12-10T09:20:16","date_gmt":"2025-12-10T02:20:16","guid":{"rendered":"https:\/\/hbbgroup.net\/ap-luc-bua-vay-du-bao-gia-vang-nam-2026\/"},"modified":"2025-12-10T09:20:16","modified_gmt":"2025-12-10T02:20:16","slug":"ap-luc-bua-vay-du-bao-gia-vang-nam-2026","status":"publish","type":"post","link":"https:\/\/hbbgroup.net\/zh\/ap-luc-bua-vay-du-bao-gia-vang-nam-2026\/","title":{"rendered":"\u00c1p l\u1ef1c b\u1ee7a v\u00e2y, d\u1ef1 b\u00e1o gi\u00e1 v\u00e0ng n\u0103m 2026"},"content":{"rendered":"
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V\u00e0ng ch\u1ecbu \u00e1p l\u1ef1c gi\u1ea3m<\/strong><\/p>\n

Trong v\u00e0i phi\u00ean giao d\u1ecbch g\u1ea7n \u0111\u00e2y, th\u1ecb tr\u01b0\u1eddng v\u00e0ng th\u1ebf gi\u1edbi \u0111\u1ed1i m\u1eb7t v\u1edbi \u00e1p l\u1ef1c b\u00e1n ra kh\u00e1 m\u1ea1nh. T\u1eeb m\u1ee9c 4.260 USD\/ounce ghi nh\u1eadn ng\u00e0y 5\/12, gi\u00e1 v\u00e0ng<\/a> giao ngay \u0111\u00e3 lao d\u1ed1c, c\u00f3 l\u00fac ch\u1ea1m ng\u01b0\u1ee1ng 4.180 USD\/ounce. T\u00ednh \u0111\u1ebfn 9h s\u00e1ng ng\u00e0y 9\/12, gi\u00e1 v\u00e0ng tr\u00ean th\u1ecb tr\u01b0\u1eddng ch\u00e2u \u00c1 \u1ed5n \u0111\u1ecbnh \u1edf m\u1ee9c 4.195 USD\/ounce.<\/p>\n

\u00c1p l\u1ef1c n\u00e0y xu\u1ea5t ph\u00e1t t\u1eeb lo ng\u1ea1i xung quanh cu\u1ed9c h\u1ecdp ch\u00ednh s\u00e1ch ti\u1ec1n t\u1ec7 c\u1ee7a C\u1ee5c D\u1ef1 tr\u1eef Li\u00ean bang M\u1ef9 (Fed) d\u1ef1 ki\u1ebfn di\u1ec5n ra ng\u00e0y 10\/12. C\u00e1c nh\u00e0 \u0111\u1ea7u t\u01b0 lo s\u1ee3 Fed s\u1ebd \u0111\u01b0a ra nh\u1eefng b\u00ecnh lu\u1eadn c\u1ee9ng r\u1eafn, d\u00f9 c\u00f3 kh\u1ea3 n\u0103ng c\u1eaft gi\u1ea3m l\u00e3i su\u1ea5t 0,25 \u0111i\u1ec3m ph\u1ea7n tr\u0103m l\u00e0 r\u1ea5t cao.<\/p>\n

Theo d\u1eef li\u1ec7u t\u1eeb th\u1ecb tr\u01b0\u1eddng, x\u00e1c su\u1ea5t c\u1eaft gi\u1ea3m l\u00e3i su\u1ea5t l\u00ean \u0111\u1ebfn 90%, nh\u01b0ng k\u1ef3 v\u1ecdng v\u1ec1 gi\u1ecdng \u0111i\u1ec7u “di\u1ec1u h\u00e2u” (hawkish) t\u1eeb Fed \u0111ang t\u0103ng cao, \u0111\u1eb7c bi\u1ec7t khi l\u1ea1m ph\u00e1t v\u1eabn dai d\u1eb3ng. B\u00e1o c\u00e1o l\u1ea1m ph\u00e1t s\u1ea3n xu\u1ea5t M\u1ef9 cho th\u00e1ng 10 v\u00e0 11 b\u1ecb tr\u00ec ho\u00e3n \u0111\u1ebfn th\u00e1ng 1\/2026, c\u00e0ng l\u00e0m t\u0103ng b\u1ea5t \u1ed5n, th\u00fac \u0111\u1ea9y b\u00e1n v\u00e0ng v\u00e0 b\u1ea1c.<\/p>\n

B\u00ean c\u1ea1nh \u0111\u00f3, c\u00e1c y\u1ebfu t\u1ed1 b\u00ean ngo\u00e0i c\u0169ng \u1ea3nh h\u01b0\u1edfng. Ch\u1ec9 s\u1ed1 USD Index t\u0103ng nh\u1eb9, trong khi gi\u00e1 d\u1ea7u th\u00f4 y\u1ebfu \u0111i. D\u1ea7u WTI xu\u1ed1ng d\u01b0\u1edbi ng\u01b0\u1ee1ng 59 USD\/th\u00f9ng, l\u1ee3i su\u1ea5t tr\u00e1i phi\u1ebfu kho b\u1ea1c M\u1ef9 10 n\u0103m \u1edf kho\u1ea3ng 4,15%.<\/p>\n

Ng\u00e2n h\u00e0ng Th\u1ebf gi\u1edbi (World Bank) cho hay Ng\u00e2n h\u00e0ng Trung \u01b0\u01a1ng Trung Qu\u1ed1c th\u00e1ng 11 ti\u1ebfp t\u1ee5c mua r\u00f2ng v\u00e0ng th\u00e1ng th\u1ee9 13 li\u00ean ti\u1ebfp, th\u00eam 30.000 ounce troy (g\u1ea7n 1 t\u1ea5n), \u0111\u01b0a t\u1ed5ng d\u1ef1 tr\u1eef l\u00ean 74,12 tri\u1ec7u ounce troy (kho\u1ea3ng 2.380 t\u1ea5n). Tuy nhi\u00ean, \u0111i\u1ec1u n\u00e0y ch\u01b0a \u0111\u1ee7 \u0111\u1ec3 b\u00f9 \u0111\u1eafp \u00e1p l\u1ef1c b\u00e1n t\u1eeb th\u1ecb tr\u01b0\u1eddng M\u1ef9.<\/p>\n

\"giavang<\/picture>
\u00c1p l\u1ef1c gi\u1ea3m gi\u00e1 gia t\u0103ng trong v\u00e0i tu\u1ea7n g\u1ea7n \u0111\u00e2y. \u1ea2nh: HH<\/em><\/figcaption><\/figure>\n

T\u1ea1i Vi\u1ec7t Nam, gi\u00e1 v\u00e0ng c\u0169ng \u0111i\u1ec1u ch\u1ec9nh gi\u1ea3m theo \u0111\u00e0 th\u1ebf gi\u1edbi. V\u00e0ng mi\u1ebfng SJC gi\u1ea3m h\u01a1n 1 tri\u1ec7u \u0111\u1ed3ng\/l\u01b0\u1ee3ng so v\u1edbi cu\u1ed1i tu\u1ea7n tr\u01b0\u1edbc, mua v\u00e0o 152,2 tri\u1ec7u \u0111\u1ed3ng\/l\u01b0\u1ee3ng v\u00e0 b\u00e1n ra 154,2 tri\u1ec7u \u0111\u1ed3ng\/l\u01b0\u1ee3ng. V\u00e0ng nh\u1eabn giao d\u1ecbch quanh 150-153 tri\u1ec7u \u0111\u1ed3ng\/l\u01b0\u1ee3ng.<\/p>\n

T\u1ef7 gi\u00e1 USD\/VND tr\u00ean th\u1ecb tr\u01b0\u1eddng t\u1ef1 do gi\u1ea3m m\u1ea1nh, t\u1eeb \u0111\u1ec9nh g\u1ea7n 28.000 \u0111\u1ed3ng\/USD (b\u00e1n ra) h\u1ed3i th\u00e1ng 10 xu\u1ed1ng 27.150 \u0111\u1ed3ng\/USD hi\u1ec7n nay. Ch\u00eanh l\u1ec7ch gi\u1eefa t\u1ef7 gi\u00e1 ng\u00e2n h\u00e0ng v\u00e0 th\u1ecb tr\u01b0\u1eddng t\u1ef1 do thu h\u1eb9p t\u1eeb 1.500 \u0111\u1ed3ng xu\u1ed1ng kho\u1ea3ng 800 \u0111\u1ed3ng, gi\u00fap \u1ed5n \u0111\u1ecbnh th\u1ecb tr\u01b0\u1eddng n\u1ed9i \u0111\u1ecba nh\u01b0ng c\u0169ng l\u00e0m gi\u1ea3m s\u1ee9c h\u00fat c\u1ee7a v\u00e0ng nh\u01b0 k\u00eanh tr\u00fa \u1ea9n.<\/p>\n

D\u1ef1 b\u00e1o t\u0103ng trong n\u1eeda cu\u1ed1i 2026<\/strong><\/p>\n

Gi\u00e1 v\u00e0ng \u0111ang trong pha \u0111i\u1ec1u ch\u1ec9nh, c\u00e1c chuy\u00ean gia d\u1ef1 b\u00e1o c\u00f3 th\u1ec3 c\u00f2n m\u1ed9t nh\u1ecbp gi\u1ea3m n\u1eefa tr\u01b0\u1edbc khi ph\u1ee5c h\u1ed3i m\u1ea1nh m\u1ebd t\u1eeb gi\u1eefa n\u0103m 2026. L\u00fd do ch\u00ednh n\u1eb1m \u1edf b\u1ed1i c\u1ea3nh v\u0129 m\u00f4 ch\u01b0a cho t\u00edn hi\u1ec7u b\u1ee9t ph\u00e1. D\u00f9 th\u1ecb tr\u01b0\u1eddng k\u1ef3 v\u1ecdng Fed c\u1eaft gi\u1ea3m l\u00e3i su\u1ea5t, l\u1ea1m ph\u00e1t l\u00f5i M\u1ef9 v\u1eabn ch\u01b0a h\u1ea1 nhi\u1ec7t \u0111\u00fang qu\u1ef9 \u0111\u1ea1o. Fed kh\u00f3 n\u1edbi l\u1ecfng nhanh ch\u00f3ng khi ch\u1ec9 s\u1ed1 gi\u00e1 ti\u00eau d\u00f9ng (CPI) dai d\u1eb3ng, gi\u1eef USD m\u1ea1nh v\u00e0 l\u1ee3i su\u1ea5t tr\u00e1i phi\u1ebfu cao, t\u1ea1o \u00e1p l\u1ef1c t\u1ef1 nhi\u00ean l\u00ean v\u00e0ng.<\/p>\n

Th\u1ee9 hai, \u0111\u1ed3ng USD ch\u01b0a th\u1ef1c s\u1ef1 suy y\u1ebfu. Ch\u1ec9 s\u1ed1 DXY v\u1eabn duy tr\u00ec tr\u00ean c\u00e1c v\u00f9ng h\u1ed7 tr\u1ee3 quan tr\u1ecdng, cho th\u1ea5y d\u00f2ng v\u1ed1n l\u1edbn ch\u01b0a “tho\u00e1t” kh\u1ecfi USD. Khi USD c\u00f2n m\u1ea1nh, v\u00e0ng kh\u00f3 t\u1ea1o s\u00f3ng t\u0103ng b\u1ec1n v\u1eefng.\u00a0<\/p>\n

B\u00ean c\u1ea1nh \u0111\u00f3, c\u1ea5u tr\u00fac gi\u00e1 v\u00e0ng \u0111ang trong pha \u0111i\u1ec1u ch\u1ec9nh k\u1ef9 thu\u1eadt. Bi\u1ec3u \u0111\u1ed3 cho th\u1ea5y gi\u00e1 li\u00ean t\u1ee5c th\u1ea5t b\u1ea1i khi ti\u1ebfp c\u1eadn v\u00f9ng ph\u00e2n ph\u1ed1i c\u1ee7a t\u1ed5 ch\u1ee9c l\u1edbn, kh\u1ed1i l\u01b0\u1ee3ng giao d\u1ecbch t\u0103ng \u1edf \u0111\u1ec9nh nh\u01b0ng gi\u1ea3m \u1edf v\u00f9ng h\u1ed3i ph\u1ee5c. \u0110i\u1ec1u n\u00e0y cho th\u1ea5y th\u1ecb tr\u01b0\u1eddng ch\u01b0a t\u00edch l\u0169y \u0111\u1ee7 \u0111\u1ec3 b\u1eadt l\u00ean, c\u1ea7n “r\u0169 b\u1ecf” v\u1ecb th\u1ebf FOMO qua m\u1ed9t nh\u1ecbp gi\u1ea3m.<\/p>\n

Cu\u1ed1i c\u00f9ng, t\u00e2m l\u00fd th\u1ecb tr\u01b0\u1eddng \u0111ang qu\u00e1 nghi\u00eang v\u1ec1 t\u0103ng, khi\u1ebfn t\u1ed5 ch\u1ee9c l\u1edbn c\u00f3 th\u1ec3 “\u0111\u1ea1p gi\u00e1” \u0111\u1ec3 gom h\u00e0ng \u1edf m\u1ee9c t\u1ed1t h\u01a1n. Gi\u00e1 c\u1ea3 nhi\u1ec1u lo\u1ea1i t\u00e0i s\u1ea3n th\u01b0\u1eddng t\u0103ng m\u1ea1nh sau khi \u0111a s\u1ed1 nh\u00e0 \u0111\u1ea7u t\u01b0 m\u1ea5t ki\u00ean nh\u1eabn.<\/p>\n

V\u1ec1 d\u00e0i h\u1ea1n, v\u00e0ng v\u1eabn \u0111\u01b0\u1ee3c d\u1ef1 b\u00e1o t\u0103ng gi\u00e1 m\u1ea1nh. Theo b\u00e1o c\u00e1o c\u1ee7a Heraeus trong Outlook 2026, sau giai \u0111o\u1ea1n c\u1ee7ng c\u1ed1 \u0111\u1ea7u n\u0103m, v\u00e0ng c\u00f3 th\u1ec3 \u0111\u1ea1t 5.000 USD\/ounce khi \u0111\u00e0 t\u0103ng ti\u1ebfp t\u1ee5c, nh\u1edd \u0111\u01b0\u1ee3c h\u1ed7 tr\u1ee3 b\u1edfi ho\u1ea1t \u0111\u1ed9ng mua v\u00e0o t\u1eeb c\u00e1c ng\u00e2n h\u00e0ng trung \u01b0\u01a1ng, n\u1ed7i lo v\u1ec1 th\u00e2m h\u1ee5t ng\u00e2n s\u00e1ch c\u00e1c n\u01b0\u1edbc v\u00e0 nhu c\u1ea7u \u0111\u1ea7u t\u01b0 m\u1ea1nh tr\u00ean ph\u1ea1m vi to\u00e0n c\u1ea7u.<\/p>\n

B\u1ea1c c\u0169ng \u0111\u01b0\u1ee3c d\u1ef1 b\u00e1o c\u00f3 th\u1ec3 l\u00ean 62 USD\/ounce d\u00f9 nhu c\u1ea7u gi\u1ea3m \u1edf m\u1ed9t s\u1ed1 l\u0129nh v\u1ef1c.\u00a0<\/p>\n

Heraeus nh\u1ea5n m\u1ea1nh, vi\u1ec7c c\u00e1c ng\u00e2n h\u00e0ng trung \u01b0\u01a1ng ti\u1ebfp t\u1ee5c mua v\u00e0ng, v\u1edbi 43% ng\u00e2n h\u00e0ng d\u1ef1 ki\u1ebfn t\u0103ng d\u1ef1 tr\u1eef, trong khi nhu c\u1ea7u trang s\u1ee9c c\u00f3 th\u1ec3 ph\u1ee5c h\u1ed3i n\u1ebfu gi\u00e1 gi\u1ea3m tr\u1edf l\u1ea1i. L\u1ea1m ph\u00e1t cao h\u01a1n d\u1ef1 ki\u1ebfn sau th\u1ecfa thu\u1eadn ng\u00e2n s\u00e1ch M\u1ef9 c\u00f3 th\u1ec3 d\u1eabn \u0111\u1ebfn l\u00e3i su\u1ea5t th\u1ef1c \u00e2m, h\u1ed7 tr\u1ee3 v\u00e0ng.<\/p>\n

Edward Dowd, c\u1ef1u qu\u1ea3n l\u00fd qu\u1ef9 BlackRock, c\u00f2n l\u1ea1c quan h\u01a1n khi d\u1ef1 b\u00e1o v\u00e0ng c\u00f3 th\u1ec3 l\u00ean 10.000 USD\/ounce nh\u1edd Basel III t\u00e1i ph\u00e2n lo\u1ea1i v\u00e0ng th\u00e0nh t\u00e0i s\u1ea3n c\u1ea5p 1 v\u00e0 ho\u1ea1t \u0111\u1ed9ng t\u00edch l\u0169y v\u00e0ng m\u1ea1nh m\u1ebd t\u1eeb Trung Qu\u1ed1c gi\u1eefa bong b\u00f3ng n\u1ee3 to\u00e0n c\u1ea7u. D\u00f9 c\u00f3 r\u1ee7i ro suy tho\u00e1i M\u1ef9 n\u0103m 2026, v\u1edbi th\u1ecb tr\u01b0\u1eddng lao \u0111\u1ed9ng y\u1ebfu, Fed c\u00f3 th\u1ec3 c\u1eaft gi\u1ea3m l\u00e3i su\u1ea5t th\u00eam, gi\u1ea3m l\u00e3i su\u1ea5t th\u1ef1c v\u00e0 \u0111\u1ea9y v\u00e0ng l\u00ean.\u00a0<\/p>\n

T\u00f3m l\u1ea1i, nh\u1ecbp gi\u1ea3m hi\u1ec7n t\u1ea1i l\u00e0 \u201cb\u01b0\u1edbc l\u00f9i b\u1eaft bu\u1ed9c\u201d \u0111\u1ec3 th\u1ecb tr\u01b0\u1eddng t\u00edch l\u0169y, nh\u01b0ng xu h\u01b0\u1edbng d\u00e0i h\u1ea1n v\u1eabn t\u00edch c\u1ef1c nh\u1edd c\u00e1c y\u1ebfu t\u1ed1 c\u01a1 b\u1ea3n v\u1eefng ch\u1eafc.<\/p>\n

<\/picture><\/a> <\/p>\n
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Gi\u00e1 v\u00e0ng h\u00f4m nay 9\/12\/2025 SJC quay \u0111\u1ea7u gi\u1ea3m v\u1ec1 s\u00e1t 154 tri\u1ec7u \u0111\u1ed3ng\/l\u01b0\u1ee3ng<\/a>Gi\u00e1 v\u00e0ng h\u00f4m nay 9\/12\/2025 ghi nh\u1eadn v\u00e0ng mi\u1ebfng SJC h\u1ea1 nhi\u1ec7t l\u00fac m\u1edf \u0111\u1ea7u phi\u00ean. \u0110\u1ed9ng l\u1ef1c t\u0103ng gi\u00e1 c\u1ee7a v\u00e0ng \u0111ang \u00edt \u0111i.<\/span><\/p>\n<\/div><\/div>","protected":false},"excerpt":{"rendered":"

V\u00e0ng ch\u1ecbu \u00e1p l\u1ef1c gi\u1ea3m Trong v\u00e0i phi\u00ean giao d\u1ecbch g\u1ea7n \u0111\u00e2y, th\u1ecb tr\u01b0\u1eddng v\u00e0ng th\u1ebf gi\u1edbi \u0111\u1ed1i m\u1eb7t v\u1edbi […]<\/p>","protected":false},"author":5,"featured_media":57042,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[219],"tags":[],"class_list":["post-57041","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-vang"],"acf":[],"_links":{"self":[{"href":"https:\/\/hbbgroup.net\/zh\/wp-json\/wp\/v2\/posts\/57041","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hbbgroup.net\/zh\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hbbgroup.net\/zh\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hbbgroup.net\/zh\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/hbbgroup.net\/zh\/wp-json\/wp\/v2\/comments?post=57041"}],"version-history":[{"count":0,"href":"https:\/\/hbbgroup.net\/zh\/wp-json\/wp\/v2\/posts\/57041\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/hbbgroup.net\/zh\/wp-json\/wp\/v2\/media\/57042"}],"wp:attachment":[{"href":"https:\/\/hbbgroup.net\/zh\/wp-json\/wp\/v2\/media?parent=57041"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hbbgroup.net\/zh\/wp-json\/wp\/v2\/categories?post=57041"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hbbgroup.net\/zh\/wp-json\/wp\/v2\/tags?post=57041"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}