Gold price increases by nearly 3 million VND/tael after a month, buyers still lose money

SJC gold bars increase by nearly 3 million VND/tael

SJC gold bars and 9999 gold rings both increased compared to mid-August. However, the increase in listed prices does not mean that all gold buyers are profitable, because the gap between buying and selling prices is still a factor that greatly affects actual profits.

On September 14, SJC gold bar prices at large enterprises were commonly around 143-146.2 million VND/tael. Compared to August 14, gold prices have increased in both buying and selling directions.

In Phu Quy, SJC gold bar prices increased from 140.3 - 143.3 million VND/tael to 143.3 - 146.2 million VND/tael. In which, the buying side increased by 3 million VND/tael, and the selling side increased by 2.9 million VND/tael. With this price level, gold buyers in Phu Quy a month ago are now almost at breakeven.

DOJI has the same SJC gold bar price as Phu Quy at August 14th, at 140.3 - 143.3 million VND/tael. However, by September 14th, the SJC gold price at DOJI was listed at 143.2 - 146.2 million VND/tael, an increase of 2.9 million VND/tael in both buying and selling directions. Gold buyers at DOJI are currently losing about 100,000 VND/tael after a month.

At Bao Tin Minh Chau, SJC gold bar prices increased from 140.2 - 144.2 million VND/tael to 143 - 146.2 million VND/tael. The buying side increased by 2.8 million VND/tael, while the selling side increased by 2 million VND/tael. With the buying - selling difference once maintained at a high level, gold buyers here are losing about 1.2 million VND/tael after a month.

Gold rings increase in price but have not helped buyers make a profit

For 9999 gold rings, the price increase trend also occurs at major brands. However, the buying - selling difference of 3-4 million VND/tael has narrowed the profits of buyers.

At DOJI and Bao Tin Minh Chau, the price of 9999 gold rings on September 14 was also listed at 143 - 147 million VND/tael. Compared to August 14, DOJI gold rings increased from 140 - 144 million VND/tael to the current level, an increase of 3 million VND/tael in both directions. However, gold buyers at the time a month ago were still losing about 1 million VND/tael.

Bao Tin Minh Chau adjusted the price of 9999 gold rings from 140.2 - 144.2 million VND/tael to 143 - 147 million VND/tael. The buying price increased by 2.8 million VND/tael, the selling price increased by 2.8 million VND/tael. Gold buyers at the time of August 14 are currently losing about 1.2 million VND/tael.

In Phu Quy alone, the price of 9999 gold rings increased from 140.3 - 143.3 million VND/tael to 143.2 - 146.5 million VND/tael. The buying price increased by 2.9 million VND/tael, the selling price increased by 3.2 million VND/tael. Gold buyers after a month are currently losing about 100,000 VND/tael.

The increase in domestic gold prices partly comes from the positive developments of the world market. On September 14, world gold prices traded at 4,352.2 USD/ounce, up 35.6 USD/ounce compared to a month ago. However, domestic gold prices still have their own fluctuations due to the impact of market demand and the difference between buying and selling.

In the context of gold prices continuously maintaining in high areas, people need to be cautious before buying decisions, avoiding the FOMO mentality (fear of missing opportunities) when the market increases sharply. Buying gold in high price areas while the buying - selling difference is large may cause buyers to suffer losses even when gold prices have not decreased.

In addition, if world gold prices decrease, the domestic gold market may face additional adjustment pressure. At that time, gold buyers in high price zones will face a greater risk of losses.