The spiritual day of the 10th lunar month) every year is always the time when the golden market in the country is most vibrant, when people have the habit of buying gold to demand wealth. This year, the market recorded many notable developments, not only in terms of demand and prices but also in terms of gold buying and selling trends before and during the God of Wealth, reflecting changes in investment psychology.
Before the God of Wealth, domestic gold prices continued to increase sharply, hitting a new record. On February 6, 2025, the price of SJC gold bars was listed at VND 88-91 million/tael (buy in - sell out). On February 7, the price of gold cooled down, listed at 86-90 million VND/tael (buy in - sell out).
Meanwhile, the price of 9999 gold rings - a product chosen by many people on the occasion of Than Tai - also increased significantly, then turned around and decreased sharply. On February 7, the price of 9999 gold rings was listed at 86-89.6 million VND/tael (buy in - sell out).
Regarding the market trend, unlike every year, when people mainly rushed to buy gold bridge, this year the market recorded the phenomenon of people massively selling gold before the day of the God of Fortune. The main reason is that gold price has increased sharply before, causing many people to profit before the price may decrease after January 10.
As noted from the golden stores, the number of guests to sell gold in the previous days before the genius increased by 30-40% compared to the same period last year. Many people said they sold because of concerns after the day of the genius, the price of gold could be adjusted to decrease, as common in previous years.
Commenting on the current gold market situation, PhD. Nguyen Tri Hieu - Economic Expert - said that the increase of domestic gold price is completely dependent on the world gold price, which is in a trend of increasing.
"The world gold price has surpassed $2,800/ounce and is approaching $2,850/ounce, possibly $2,900/oz. In 2025, world gold may even reach the threshold of 3,000 USD/ounce. This increase is mainly due to investors' concerns about global economic fluctuations, especially the tough trade policy from the Donald Trump administration to Canada, Mexico and China. When geopolitical tensions escalate, investors tend to seek gold as a safe haven."
Also according to TS. Nguyen Tri Hieu, the trend of gold selling profit before the day of the God of Fortune this year reflects the change in the investment psychology of the people. "In previous years, people often buy gold to pray for fortune, but this year, more people are more interested in prices and profits. They sell gold in front of the god of fortune because the price has increased sharply and worried that the price will adjust the price. After this day.
With the current price, many people are worried about whether to buy gold on the God of Wealth's Day or not. Dr. Nguyen Tri Hieu recommends: "Buying gold on the death day of the God of Wealth often costs higher than normal days. History shows that after the death anniversary of God Tai, gold prices in the short term may be adjusted down. Investors need to consider carefully. Those who buy gold for the purpose of staying long-term (6 months or more) can consider it, but if they buy it for short-term surfing, the risk will be very high".
