Gold ring price increased to 25 million VND after only one year

Gold ring price increased more than 40% after one year

The domestic gold market has experienced many unexpected fluctuations in 2024. The price of gold bars and gold rings has continuously had breakthroughs.

Faced with this situation, the State Bank of Vietnam (SBV) has implemented many intervention measures. After the gold bar auction did not bring the expected results, the SBV switched to the plan of selling gold to four state-owned commercial banks and SJC Company so that these units could supply the market.

After the above move, the price of SJC gold bars and gold rings decreased sharply in May and June.

Gold ring price developments over the past year:

However, the decline did not last long. From September to November 2024, the domestic ring gold price continuously set new peaks. By the end of the fourth quarter of 2024 and the beginning of 2025, the ring gold price was affected by the world market, so there was a time when it decreased. But in February 2025, the ring gold price increased sharply, reaching the highest level in history.

After more than a year, the price of gold rings in the domestic market has increased by 25.15 million VND/tael for buying and 26.9 million VND/tael for selling, equivalent to an increase of more than 40%.

Risk of loss when investing in surfing

At the beginning of the year, the demand for gold increased. In the context that many businesses did not sell SJC gold bars, plain round gold rings became the choice of many people.

However, the difference between buying and selling prices of this item is widening, causing investors to face the risk of losses. If this morning (February 6, 2025), the price of plain gold rings was listed at around VND 88.2-91.2 million/tael, the difference between buying and selling was VND 3 million/tael, then by 4:00 p.m. on February 6, 2025, the price had been adjusted down to VND 86.5-89.9 million/tael, the difference between buying and selling increased to VND 3.4 million/tael.

When the difference between buying and selling prices widens, investors will have to suffer losses as soon as they buy gold. With the current difference of up to 3.4 million VND/tael, if they buy gold and sell it immediately, investors will lose 3.4 million VND/tael, making it difficult to surf.

In this afternoon session, the price of gold rings at many units such as DOJI and Bao Tin Minh Chau has decreased from 1.1 - 1.7 million VND/tael. If buying at a high price in the morning and selling in the afternoon, investors can suffer a loss of up to 4.55 - 4.7 million VND/tael, due to both the loss of gold value and the large price difference.

In recent sessions, the price of domestic gold rings has fluctuated quite closely with the world market. Therefore, investors can follow international developments for reference and make judgments before deciding to trade.