On November 27, the domestic gold market continued to witness a heated increase when the prices of gold bars and gold rings were simultaneously raised by enterprises to 150153 million VND/tael.
Compared to 6 months ago, the common increase is up to 3038 million VND/tael, helping buyers from the end of May now record a huge profit.
At Saigon Jewelry Company SJC, the price of gold bars today is listed at 151.4153.4 million VND/tael. Compared to 116.5119 million VND/tael on May 27, the price has increased by 34.9 million VND for buying and 34.4 million VND for selling. According to the interest rate after 6 months, gold buyers in May are making a profit of about 32.4 million VND/tael.
The price at DOJI also had similar fluctuations, with the two directions increasing by VND34.9 and VND34.4 million, respectively, bringing a profit of VND32.4 million if bought half a year ago.
Bao Tin Minh Chau recorded a stronger increase in the buying price when the price this morning reached 151.9 million VND, 35.4 million VND higher than the 116.5 million VND of the previous 6 months; while the selling price increased by 34.4 million VND. Gold buyers in this system at the end of May are currently making a profit of about 32.9 million VND/tael.
In Phu Quy, the purchase price increased by 34.9 million VND while the selling price increased by 34.4 million VND compared to the previous 116-119 million VND/tael mark, equivalent to a profit of about 31.9 million VND/tael.
The strongest fluctuations occurred in the 9999 gold ring group. At DOJI, the price of Hung Thinh Vuong rings on the morning of November 27 stood at 149.4152.4 million VND/tael, an increase of 37.4 million VND for buying and 37.9 million VND for selling compared to 112114.5 million VND in May. The profit brought to buyers 6 months ago was up to 34.9 million VND/tael.
Bao Tin Minh Chau raised the price of gold rings to 150153 million VND/tael, an increase of 35.5 million VND in both directions, equivalent to a profit of 32.5 million VND.
In Phu Quy, ring prices increased the most in the market with 37.7 million VND per direction, bringing the profit of buyers in May to about 34.7 million VND/tael.
Domestic gold prices increased sharply in the context of the world market also climbing to a high price range, with 4,151 USD/ounce recorded on the morning of November 27. Compared to 6 months ago, international gold prices have increased by nearly 800 USD/ounce, creating more psychological impetus for investors and contributing to strengthening the upward trend in the domestic gold market.
Although it brings a large profit to buyers 6 months ago, investors should not follow the FOMO mentality. Currently, the difference between buying and selling prices at many businesses is still very high, from 1.5 to 3 million VND/tael, causing buyers in the peak price range to suffer immediate losses if the market only slightly adjusts.
In the context of unpredictable fluctuations in domestic gold prices and not fully following world developments, investors should be cautious and avoid chasing during hot spikes to minimize financial risks.
See more news related to gold prices HERE...
