Gold ring price at all time high, big profit after 3 months

Three months ago (July 19, 2024), the price of 9999 Hung Thinh Vuong round gold ring at DOJI Gold and Gemstone Group was listed at 76.10 - 77.35 million VND/tael (buy - sell).

Meanwhile, Bao Tin Minh Chau listed the price of gold rings at 76.08 - 77.38 million VND/tael (buy - sell).

By today's trading session (October 19, 2024), the domestic gold ring price had increased sharply by more than 8 million VND/tael. The price of Hung Thinh Vuong 9999 round gold rings at DOJI was listed at 84.55 - 85.55 million VND/tael (buy - sell), an increase of 8.45 million VND/tael for buying and an increase of 8.2 million VND for selling.

Bao Tin Minh Chau listed the price of plain round gold at 84.52 - 85.52 million VND/tael (buy - sell); an increase of 8.44 million VND/tael for buying and an increase of 8.14 million VND/tael for selling.

Thus, after 3 months of buying, gold buyers at DOJI and Bao Tin Minh Chau respectively made a profit of 7.2 million and 7.14 million VND/tael.

Although buying plain gold rings is helping investors earn high profits, buying this item has been relatively difficult recently. It is noted that in Hanoi, businesses have stopped selling, or are selling in small quantities at irregular hours. This creates scarcity in the market, making it difficult for those in need to access.

In recent sessions, the price of gold rings has often fluctuated in the same direction as the world market. Investors can refer to the world market and expert opinions before making investment decisions.

In the past 3 months, the world gold price has also continuously increased sharply. On July 19, 2024 (Vietnam time), the world gold price listed on Kitco was at 2,422.7 USD/ounce.

At 9:45 a.m. on October 19, 2024, the world gold price increased to an all-time high of 2,721.9 USD/ounce (an increase of nearly 300 USD/ounce compared to three months ago).

Experts say that the world gold price is receiving support from many factors, including escalating geopolitical tensions, a wave of buying and interest rate cuts by central banks, information surrounding the US election...