The difference between buying and selling is very high
Early this morning, the price of SJC gold bars was listed by Saigon Jewelry Company at VND94.4-97.4 million/tael (buy in - sell out). The difference between buying and selling prices is at 3 million VND/tael.
DOJI Group listed the price of SJC gold bars at VND94.4-97.4 million/tael (buy in - sell out). The difference between buying and selling prices is at 3 million VND/tael.
Meanwhile, Bao Tin Minh Chau listed the price of SJC gold bars at VND94.8-97.4 million/tael (buy in - sell out). The difference between buying and selling prices is at 2.6 million VND/tael.
At the same time, the price of 9999 Hung Thinh Vuong round gold rings at DOJI was listed at 95.6-98.2 million VND/tael (buy in - sell out). The difference between buying and selling is listed at 2.6 million VND/tael.
Bao Tin Minh Chau listed the price of gold rings at 96.1-98.6 million VND/tael (buy in - sell out). The difference between buying and selling is 2.5 million VND/tael.
Risk of loss
The difference between buying and selling prices is too high, which can cause a risk of quick losses for investors who need immediate liquidity. When gold prices fluctuate strongly, buying at high prices and selling at low prices will create significant losses for gold holders in the short term. This makes it difficult for investors to achieve the desired profit if they need to sell immediately.
To analyze more clearly, we can consider a specific example of buying gold this morning at Saigon Jewelry Company SJC, where the buying price was 94.4 million VND/tael and the selling price was 97.4 million VND/tael, creating a difference of 3 million VND/tael.
If you decide to buy gold this morning at 94.4 million VND/tael and then need to sell immediately to recover capital, investors will have to sell at 97.4 million VND/tael. However, selling immediately will cause you to suffer losses due to the difference between buying and selling prices.
To break even, gold prices must increase by at least VND3 million/tael, or at least VND97.4 million/tael. If investors want to make a profit, gold prices need to increase another item. For example, to make a profit of VND500,000/tael, the gold price needs to reach at least VND97.9 million/tael.
If gold prices do not increase sharply or maintain high prices for a long time, the risk of loss is very high for those who invest with the goal of quick liquidity.
Therefore, in the context of the current strong fluctuations in the gold market, investors need to be cautious when deciding to trade, especially those who intend to surf.
See more news related to gold prices HERE...
