Gold price continuously drops, loss or profit after 1 month of buying?

Khương Duy |

Since the end of October, domestic gold prices have been falling continuously. However, if you bought gold a month ago, investors would still make a big profit.

A month ago (session 4.10), the price of SJC gold bars was listed by DOJI Group at 82 - 84 million VND/tael (buy - sell). The difference between the buying and selling price of SJC gold at DOJI Group was at 2 million VND/tael.

Meanwhile, Bao Tin Minh Chau listed the price of SJC gold at 82 - 84 million VND/tael (buy - sell). The difference between the buying and selling price of SJC gold at Saigon SJC Jewelry Company is at 2 million VND/tael.

Dien bien vang mieng SJC nhung phien gan day. Bieu do: Khuong Duy
SJC gold bar price movements in recent sessions. Chart: Thieu Trang

Also in the session on October 4, the price of 9999 Hung Thinh Vuong round gold rings at DOJI was listed at 82.50-83.20 million VND/tael (buy - sell). The difference between buying and selling gold rings was around 700,000 VND/tael.

At the same time, Bao Tin Minh Chau listed the price of plain round gold rings at 82.28-83.18 million VND/tael (buy - sell). The difference between buying and selling gold rings is around 900,000 VND/tael.

As of today (November 4 session), the price of SJC gold bars listed by DOJI Group is at 87-89 million VND/tael (buy - sell). The difference between the buying and selling price of SJC gold at DOJI Group is at 2 million VND/tael.

Bao Tin Minh Chau listed the price of SJC gold at 87-89 million VND/tael (buy - sell). The difference between the buying and selling price of SJC gold at Bao Tin Minh Chau is 2 million VND/tael.

Dien bien gia vang nhan tron 9999. Bieu do: Khuong Duy
Price developments of 9999 plain gold rings. Chart: Thieu Trang

Early this afternoon, the price of 9999 Hung Thinh Vuong round gold rings was listed by DOJI at 87.6-88.6 million VND/tael (buy - sell). The difference between buying and selling gold rings is around 1 million VND/tael.

Bao Tin Minh Chau listed the price of gold rings at 87.78-88.78 million VND/tael (buy - sell). The difference between buying and selling gold rings is around 1 million VND/tael.

Although there have been some recent declines, overall the price of gold has still recorded a fairly high increase over the past month. Specifically, DOJI and Bao Tin Minh Chau have adjusted the price of SJC gold bars up to VND5 million/tael in both directions. Minus the difference between buying and selling, gold bar buyers make a profit of VND3 million/tael.

For gold rings, after one month, DOJI adjusted the price up to 5.1 million VND/tael for buying and increased by 5.4 million VND/tael; Bao Tin Minh Chau adjusted the price up to 5.5 million VND/tael for buying and increased by 5.6 million VND/tael.

After deducting the difference between buying and selling, buyers of DOJI plain round gold rings make a profit of 4.4 million VND/tael; buyers of Bao Tin Minh Chau plain round gold rings make a profit of 4.6 million VND/tael.

Nguoi dan xep hang mua vang tai mot cua hang tren duong Tran Nhan Tong. Anh: Phuong Anh
People line up to buy gold at a store on Tran Nhan Tong Street (Hanoi). Photo: Phuong Anh

The price of round gold rings increased less than that of SJC gold bars last month, but buyers received much higher profits. The main reason is that the difference between buying and selling prices of gold rings is much lower than that of gold rings.

In fact, in recent sessions, buying gold bars and gold rings has been very difficult. In Hanoi, most stores have completely stopped trading SJC gold bars. Some units have opened gold rings for sale but in very small quantities at irregular hours, making gold bars and gold rings very scarce.

See more news related to gold prices HERE...

Khương Duy
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