Gold prices are rising rapidly, but buyers are still suffering heavy losses

Investors lose heavily in short-term investments

Last week, the price of SJC gold was adjusted up by 500,000 VND/tael by domestic businesses. However, if buyers decide to sell today, they will lose about 1.5 million VND/tael.

Accordingly, on October 6, DOJI Group listed the price of SJC gold at 82-84 million VND/tael (buy - sell). Meanwhile, Saigon Jewelry Company SJC listed the price of SJC gold at 82-84 VND/tael (buy - sell).

As of today's session (October 13), DOJI Group listed the price of SJC gold at 82.5 - 84.5 million VND/tael (buy - sell). Meanwhile, Saigon Jewelry Company SJC listed the price of SJC gold at 82.5 - 84.5 VND/tael (buy - sell).

Thus, if you buy gold at DOJI Group on October 6 at VND84 million/tael and sell it today (October 13), the investor will lose VND1.5 million/tael. Similarly, those who buy gold at Saigon Jewelry Company SJC will also lose VND1.5 million/tael.

Not only SJC gold bars, buyers of plain gold rings also suffered losses last week, despite the increase in price. On October 6, the price of Hung Thinh Vuong 9999 round gold rings at DOJI was listed at VND82.85-83.60 million/tael (buy in - sell out). Saigon Jewelry Company listed the price of gold rings at VND82-83.3 million/tael (buy in - sell out).

As of today, the price of 9999 Hung Thinh Vuong round gold rings at DOJI is listed at 82.55 - 83.45 million VND/tael (buy - sell). Saigon Jewelry Company listed the price of gold rings at 81.6 - 83 million VND/tael (buy - sell).

After a week of increase, if buying gold rings in the session of October 6 and selling in today's session (October 13), the loss that investors will receive when buying at DOJI and Saigon Jewelry Company is 1.05 million VND/tael and 1.7 million VND/tael, respectively.

Why?

In fact, the investor's loss comes from the difference between buying and selling being pushed too high. Last week, the difference between buying and selling remained at VND2 million/tael. Meanwhile, the difference between buying and selling 9999 plain gold rings was around VND900,000/tael to VND1.4 million/tael.

This is understandable, when buying plain gold rings at DOJI at VND83.45 million/tael and immediately selling, this brand will buy back at VND82.55 million/tael. At that time, the investor loses about VND900,000/tael. To break even and make a profit, the price of gold rings needs to increase beyond the difference between buying and selling.

Of course, no one would buy gold and then sell it right at the store to receive the above-mentioned loss. Adjusting the difference between buying and selling gold to ensure profit when trading gold is a business trick of enterprises. However, experts say that the difference that businesses are listing is too large.

The safe difference recommended by experts is below 300,000 VND/tael. However, for a long time, the difference between buying and selling gold in the country has been adjusted to over 1 million VND, even reaching over 3 million VND/tael at times.