Gold price hits peak but purchasing power still increases
In recent days, domestic gold prices have continued to remain at a record high, fluctuating around 150 - 155 million VND/tael. Although the difference between buying and selling prices is quite large, from 1.5 to 3 million VND/tael, the number of gold buyers has not decreased.
The buying and selling range of gold currently ranges from 1.5 to 3 million VND/tael, much higher than the previous period. This means that the risks of short-term investors increase, especially those with a "surfing" mentality. Just by a slight reversal in price, buyers can suffer immediate losses due to the large price difference.
However, unlike the "gold fever" in the past, the current market no longer has the scene of people jostling to buy and sell for profit. Instead, the popular trend is to buy gold for long-term storage, considering it a safe form of "money retention" in the context of economic fluctuations.
From surfing to retirement: Vietnamese people choose to stay stable in times of change
A survey at many gold shops in Hanoi shows that the number of customers buying gold has increased steadily, especially among middle-aged people with stable income. Most customers said they do not expect prices to increase immediately, but buy for storage, in case of inflation or unpredictable financial fluctuations.
Even though it does not bring immediate profits, gold is still considered a channel for holding sustainable value in the long term. Meanwhile, real estate after a period of hot increase is entering a period of stagnation and declining liquidity; while stocks are fluctuating strongly, making many investors more cautious with decisions to spend money.
Notably, young people have also begun to participate in hoarding gold. Instead of depositing money in banks, many people aged 25 - 35 choose to buy gold rings periodically every month, considering it a safe and easy-to-control form of "saving against price spikes".
The trend of gold hoarding shows that defensive psychology is on the rise. In the context of many economic risks, it is understandable that people seek safe assets. They are no longer chasing quick profits, but focus on preserving asset value.
In addition to financial factors, gold still has a special meaning in the cultural heritage of the Vietnamese people. Since ancient times, "polluting gold" has always been considered the most reliable way to protect property. As other investment channels roam, confidence in gold is strengthened.
Amid a volatile economic picture, gold continues to prove its enduring appeal. Despite high prices and a large buy-sell gap, people still choose to buy gold because of its safety, ease of liquidity and the ability to keep prices long-term.
