At DOJI, the price of SJC gold bars on August 18 was listed at 123.7 - 124.7 million VND/tael (buy - sell). Three months later, on the morning of November 18, the price increased to 147.8 - 149.8 million VND/tael.
Thus, the purchase price has increased by 24.1 million VND/tael, while the selling price has increased by 25.1 million VND/tael. If investors buy gold on August 18 and resell it to DOJI today, the profit will reach VND23.1 million/tael.
At Bao Tin Minh Chau, SJC gold bars increased from 123.7 - 124.7 million VND/tael in mid-August to 148.3 - 149.8 million VND/tael this morning.
The purchase price increased by 24.6 million VND/tael, while the selling price increased by 25.1 million VND/tael. Thanks to that, buyers three months ago are currently making a profit of VND 23.6 million/tael.
Phu Quy Group also recorded a strong increase. The purchase price increased from 122.7 million VND/tael to 146.8 million VND/tael, equivalent to an increase of 24.1 million VND.
The selling price increased from 124.7 million to 149.8 million VND/tael. With this price, investors are making a profit of 22.1 million VND/tael when comparing the buying and selling prices three months apart.
Not only gold bars, 9999 gold rings also bring record high profits. At DOJI, the price of gold rings from 116.8 - 119.8 million VND/tael on August 18 skyrocketed to 146 - 149 million VND/tael this morning, equivalent to an increase of 29.2 million VND in both directions. Buyers of gold rings three months ago are currently making a profit of VND26.2 million/tael.
At Bao Tin Minh Chau, the increase was even more impressive when the purchase price jumped from 117 million to 146.8 million VND/tael, an increase of 29.8 million VND; the selling price also increased correspondingly to 149.8 million VND/tael. The interest rate accordingly reached 26.8 million VND/tael.
Phu Quy recorded the highest increase in the gold ring group. From 116.6 - 119.6 million VND/tael, the price of gold rings has increased to 146.5 - 149.5 million VND/tael, equivalent to an increase of 29.9 million VND.
If comparing the buying and selling prices over a three-month period, investors are currently making a profit of VND26.9 million/tael, the highest in the whole market.
Domestic gold has increased sharply in the past three months, partly due to the direct impact of the upward trend of world gold prices. From $3,341.9/ounce on August 18, international gold prices climbed to $4,032.9/ounce on the morning of November 18, equivalent to an increase of $691/ounce.
The strong increase of the world market creates a clear push up domestic gold prices, causing listed prices at enterprises to continuously be adjusted in an upward direction.
Although they earn big profits, individual investors, especially those with a "surfing" mentality, need to be very careful at this stage. The buying-selling gap is too wide, causing the risk of immediate losses when prices turn down.
In the context of the world gold price being in a strong correction trend, the domestic market is completely likely to decrease sharply. Following the crowd psychology or FOMO can cause investors to pay a high price when buying gold at high prices.
