Gold price breaks record, is it more profitable to buy gold rings or gold bars?

    Khương Duy |

    Over the past two months, domestic gold prices have increased sharply, reaching a record high for many weeks. However, the profits when investing in SJC gold bars and plain round gold rings are different.

    Buy SJC gold bars after two months of break-even

    The price of SJC gold bars has increased sharply in the past two months. On July 21, DOJI Group listed the price of SJC gold bars at 78.5-80 million VND/tael (buy - sell). The difference between the buying and selling price of SJC gold at DOJI is 1.5 million VND/tael.

    Meanwhile, Saigon Jewelry Company SJC listed the price of SJC gold at 78-80 million VND/tael (buy - sell). The difference between the buying and selling price of SJC gold at Saigon Jewelry Company SJC is at 2 million VND/tael.

    Up to now, the price of SJC gold bars has been listed by DOJI Group at 80-82 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.

    Saigon Jewelry Company SJC listed the price of SJC gold at 80-82 VND/tael (buy - sell). The difference between the buying and selling price of SJC gold at Saigon Jewelry Company SJC is at 2 million VND/tael.

    Thus, after two months of investing in SJC gold bars, gold buyers at DOJI and Saigon Jewelry Company SJC broke even. The reason for this situation is that the price of SJC gold increased, but the difference between buying and selling was too large, so investors had difficulty making a profit in short-term investments. After two months, the increase in the price of gold bars was only equal to the difference between buying and selling, so gold buyers broke even.

    Cap nhat gia vang SJC. Nguon: Cong ty CP Dich vu truc tuyen Rong Viet VDOS

    Updated SJC gold price as of 3:00 p.m. on September 22, 2024. Source: Rong Viet Online Service Joint Stock Company VDOS

    Buy 9999 plain round gold ring after two months profit

    After the world gold market broke out and reached a historical peak, the domestic price of 9999 smooth round gold rings quickly increased. As of 3:00 p.m. on September 22, the price of Hung Thinh Vuong 9999 round gold rings at DOJI was listed at 79.4 - 80.55 million VND/tael (buy - sell).

    Saigon Jewelry Company listed the price of gold rings at 78.9 - 80.2 million VND/tael (buy - sell). Meanwhile, Bao Tin Minh Chau listed the price of plain round gold rings at 79.39 - 80.54 million VND/tael (buy - sell).

    The current price is much higher than two months ago. Accordingly, in the trading session on July 21, the price of 9999 Hung Thinh Vuong round gold ring at DOJI was only listed at 75.90 - 77.15 million VND/tael (buy - sell).

    At the same time, Saigon Jewelry Company listed the price of gold rings at 75.7 - 77.1 million VND/tael (buy - sell). Bao Tin Minh Chau listed the price of gold rings at 75.93 - 77.23 million VND/tael (buy - sell).

    Thus, after two months of investment, buyers of plain round gold rings at DOJI earned a profit of VND2.25 million/tael. Meanwhile, the profit when buying at Saigon Jewelry Company and Bao Tin Minh Chau was VND1.8 million/tael and VND2.16 million/tael, respectively.

    Not only domestic gold, world gold prices have also increased dramatically in the past two months. On July 21, world gold prices closed the trading week on Kitco at 2,400.8 USD/ounce.

    As of today, the world gold price is listed at 2,622.2 USD/ounce. Thus, the world gold price has increased by 221.4 USD/ounce after only two months.

    Khương Duy
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