Gold prices are dancing, the buying and selling gap continues to widen

Gold prices fluctuate strongly

Domestic gold prices are recording a very strong correction, at times reaching 3.4 million VND/tael after just one trading session. Along with strong fluctuations, the buy-sell gap is anchored at a very high level, causing investors to face the risk of losses when surfing.

Below is the domestic gold price movement from February 6 to present:

Why?

One of the main reasons for the strong fluctuations in domestic gold prices is the psychology of buying gold for luck at the beginning of the year, especially on the day of the God of Wealth (the 10th day of the first lunar month).

Traditionally, people buy gold on this day in the hope of bringing luck and fortune for the whole year. This creates a sudden demand for gold, pushing prices up in the short term. However, after the God of Wealth day, demand decreases, leading to a downward trend in gold prices.

Experts say that the phenomenon of gold prices skyrocketing is due to high demand at a certain time, usually on the day of the God of Wealth, but immediately after that the price drops sharply when demand cools.

Besides domestic factors, world gold prices also significantly affect the Vietnamese gold market. In recent sessions, world gold prices have fluctuated strongly, breaking historical peaks.

Faced with major market fluctuations, businesses often widen the buy-sell spread. The large buy-sell spread makes investors cautious, as the risk of loss increases if the gold price does not fluctuate as expected.

Given the unpredictable fluctuations of the gold market, experts recommend that investors should consider carefully before participating in transactions. Short-term gold "surfing" has many potential risks, especially when the difference between buying and selling prices is at a high level. In addition, investors should closely monitor the developments of world gold prices and macroeconomic factors that may affect gold prices to make reasonable decisions.

Gold price update

This morning, the price of SJC gold bars was listed by Saigon Jewelry Company at 86.7-90.2 million VND/tael (buy - sell). The difference between the buying and selling price of SJC gold at Saigon Jewelry Company is 3.5 million VND/tael.

Meanwhile, the price of SJC gold bars is listed by DOJI Group at 86.7-90.2 million VND/tael (buy - sell). The difference between the buying and selling price of SJC gold at DOJI Group is 3.5 million VND/tael.

Bao Tin Minh Chau listed the price of SJC gold bars at 87.9-90.15 million VND/tael. The difference between buying and selling SJC gold at Bao Tin Minh Chau is 2.25 million VND/tael.

Meanwhile, the price of 9999 Hung Thinh Vuong round gold ring at DOJI is listed at 87.8-90 million VND/tael (buy - sell). The difference between buying and selling prices increased to 2.2 million VND/tael.

Bao Tin Minh Chau listed the price of gold rings at 88.4-90.45 million VND/tael (buy - sell). The difference between buying and selling prices increased sharply to 2.05 million VND/tael.