Domestic gold price increases vertical
Domestic gold price on 11.2 recorded a sharp increase compared to the previous day, pushing SJC gold price close to the threshold of VND 93 million/tael.
Saigon SJC VBQ Company listed SJC gold price at 90.1-93.1 million dong/tael (bought - sold), an increase of 2.8 million dong/tael in both directions compared to 10.2. The difference in buying and selling prices remains at 3 million VND/tael.
Similar to Doji Group, SJC gold price also increased sharply to 90.1-93.1 million dong/tael, higher than 2.8 million dong/tael compared to the previous session. The amplitude of buying and selling SJC gold here remains at 3 million VND/tael.
The price of 9999 prosperous gold rings at Doji increased to 89.8-91.7 million VND/tael, an increase of 1.6 million VND/tael to buy and increase 1.7 dong/tael to sell compared to 10.2. . The difference in buying - selling increased slightly to 1.9 million VND/tael.
Notably, the price of gold rings in Bao Tin Minh Chau has the strongest adjustment. On 11.2, the listed price reached 89.1-93.05 million dong/tael, an increase of 0.9 million dong/tael in the buying direction and 2.6 million dong/tael in the selling direction compared to the previous day. The difference in purchased - sold here is widening VND 3.95 million/tael, significantly higher than the level of VND 2.25 million/tael on 10.2.
Thus, in just one day, domestic gold price has increased significantly, especially SJC gold in large systems. In addition, the difference in buying and selling prices in some units also tends to increase, reflecting the strong fluctuations of the gold market.
The potential risk when the purchase difference - sell is too high
Although the price of gold increases, the difference in buying - selling gold is too high makes investors face the risk of losses. That is, when the difference in buying and selling gold at the threshold of 3 million, after buying, the price of gold must increase more than 3 million buyers to start profitable.
At Saigon SJC VBQ, the selling price of SJC gold bar on 10.2 was 90.3 million dong/tael, while the purchase price on 11.2 was 90.1 million dong/tael. Thus, if a gold buyer on October 10 and sold on 11.2, they will lose 200,000 VND/tael.
Similarly, Doji Group also recorded a loss of VND 200,000/tael, when the selling price on 10.2 was VND 90.3 million/tael, higher than the purchase price on 11.2 (VND 90.1 million/tael).
With Doji's 9999 golden rings, the loss is also 200,000 VND/tael, when the selling price on 10.2 is 90 million dong/tael, but the purchase price on 11.2 is only 89.8 million dong/tael.
Most notably, gold rings at Bao Tin Minh Chau. If purchased on 10.2 for 90.45 million dong/tael and sold on 11.2 for 89.1 million dong/tael, the buyer will lose up to 1.35 million dong/tael.
Thus, although gold price tends to increase sharply on 11.2, the difference between the purchase price and sold in some units still makes the buyer of gold ring significantly bear losses. This reflects the fact that not every gold price increases, the buyer may profit, but also depends on the difference in buying - selling price at each time.
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