Recorded by Lao Dong on February 20, at some gold shops in Binh Thanh District, District 3, District 5..., the buying and selling situation was relatively bustling.
Ms. Tran Thi Oanh (residing in Binh Thanh District) said that since buying gold on Talent Day (January 10), she has made a profit.
"On Talent Day, I bought a tael of gold for tailoring at a price of more than 89 million VND/tael. Today's gold price has increased to about 92 million VND/tael, with this price, I have made a profit," Ms. Oanh happily said.
Mr. Chung Hung Thinh (residing in District 1) said that he and his wife often buy gold in accumulation, because they believe that the gold price will continue to increase.
"I see quite a lot of people transacting, but the procedures are simple, I don't have to wait long," Mr. Thinh added.
Talking to Lao Dong, gold expert Tran Duy Phuong - Director of Golden Fund Gold and Gemstone Company informed that domestic gold prices increased because world gold prices increased, not because domestic buying pressure was high, there were no sudden changes.
Regarding selling, investors need to ask whether their profit-taking expectations have been met. For example, if it reaches 20-30%, then you should take profits, and if you have not yet met your expectations, you can wait until the right time.
Regarding buying, gold prices are still high, world gold prices are also approaching an all-time peak, so it is inevitable that there will be a sudden price adjustment. It is forecasted that in the next 1-2 weeks, gold prices will turn down 100-200 USD, so this is not a good time for investment.
By the afternoon of February 20, the price of gold rings was listed by SJC Company at VND89.7-91.8 million/tael (buy - sell), an increase of VND200,000/tael. At the same time, gold bar prices also continued to increase and approached the previously set historical peak of VND92.3 million/tael.
PNJ Company listed SJC gold bars at VND89.8-92.1 million/tael.
Domestic gold prices continue to increase today because world gold prices are still above the high threshold. The world gold price is currently listed at 2,937 USD/ounce.
