Gold price increases, buyers still lose up to 1.5 million VND/tael

Gold prices increase sharply

As of 11:00 on February 19, the price of SJC gold bars was listed by Saigon Jewelry Company at VND89.3-91.6 million/tael (buy - sell), an increase of VND1 million/tael for buying and VND0.8 million/tael for selling compared to the previous session.

SJC gold bar prices at DOJI Group and Bao Tin Minh Chau also recorded similar increases, when both listed at VND89.3-91.6 million/tael (buy - sell), an increase of VND1 million/tael for buying and VND0.8 million/tael for selling.

Meanwhile, the price of Hung Thinh Vuong 9999 round gold rings at DOJI is at 90.1-91.6 million VND/tael, an increase of 1 million VND/tael for buying and 0.8 million VND/tael for selling compared to the previous session. Bao Tin Minh Chau listed the price of gold rings at 90.2-91.6 million VND/tael, an increase of 0.95 million VND/tael for buying and 0.8 million VND/tael for selling compared to the previous session.

The difference between buying and selling is high, buyers suffer losses

Although gold prices have increased sharply, the difference between buying and selling is still high. Specifically, the difference between the buying and selling prices of SJC gold bars at Saigon Jewelry Company SJC, DOJI Group and Bao Tin Minh Chau is at 2.3 million VND/tael.

For gold rings alone, DOJI is keeping a buy-sell difference of 1.5 million VND/tael, while Bao Tin Minh Chau is keeping a difference of 1.4 million VND/tael.

The high difference between buying and selling prices puts investors at risk of losses if gold prices adjust. With a difference of 2.3 million VND/tael, gold buyers today will have to wait for the price to increase by at least 2.3 million VND/tael to break even.

If investors buy gold on February 18 and sell on February 19, the specific loss is as follows:

SJC gold bar:

- Shop price on February 18: 90.8 million VND/tael

- Shop price on February 19: 89.3 million VND/tael

- Loss that buyers must bear: 1.5 million VND/tael

Hung Thinh Vuong 9999 round gold ring at DOJI:

store price on February 18: 90.8 million VND/tael

Shop price on February 19: 90.1 million VND/tael

Loss that buyers must bear: 700,000 VND/tael

Plain gold rings at Bao Tin Minh Chau:

store price on February 18: 90.8 million VND/tael

Shop price on February 19: 90.2 million VND/tael

Loss that buyers must bear: 600,000 VND/tael

Experts recommend that investors should consider carefully before buying gold and closely monitor market fluctuations. In addition, the high price difference is putting pressure on gold buyers in the short term.