SJC gold bar price increases but buyers are not profitable
After 1 month of fluctuation, the price of SJC gold bars and 9999 gold rings in the country is still higher than on August 18. However, the increase is not enough to compensate for the buy-sell gap, causing many gold buyers a month ago to still suffer losses from hundreds of thousands of VND to nearly 2 million VND per tael if sold.
For SJC gold bars, the buying price at major brands has increased compared to 1 month ago. However, when calculated from the perspective of gold buyers on August 18 and selling on September 18, profits have not yet appeared.
At Bao Tin Minh Chau, SJC gold bar price on August 18 was at 141.8 - 145.7 million VND/tael (buying - selling). By September 18, this price increased to 143.8 - 147 million VND/tael. Thus, the buying side increased by 2 million VND/tael, the selling side increased by 1.3 million VND/tael. However, gold buyers at August 18, if sold on September 18, would still lose about 1.9 million VND/tael.
At DOJI, SJC gold bar prices increased from 141.3 - 144.3 million VND/tael to 144 - 147 million VND/tael. Buying and selling prices both increased by 2.7 million VND/tael. However, gold buyers 1 month ago still lost about 300,000 VND/tael due to the buying - selling price difference.
In Phu Quy, the price of SJC gold bars increased from 141.8 - 144.8 million VND/tael to 144 - 147 million VND/tael. The buying side increased by 2.2 million VND/tael, the selling side increased by 2.2 million VND/tael. Gold buyers at the time of August 18 are still suffering a loss of about 800,000 VND/tael.
9999 gold rings increase in price, losses still present
Not only gold bars, the price of 9999 gold rings also recorded an increase after a month. However, the buying-selling difference at many businesses prevents investors from benefiting from the price increase.
At Bao Tin Minh Chau, the price of 9999 gold rings increased from 141.8 - 145.7 million VND/tael to 143.8 - 147.8 million VND/tael. The buying side increased by 2 million VND/tael, the selling side increased by 2.1 million VND/tael. Gold buyers at the time of August 18 still lost about 1.9 million VND/tael.
At DOJI, the price of 9999 gold rings increased from 141.6 - 145.6 million VND/tael to 143.6 - 146.5 million VND/tael. The buying side increased by 2 million VND/tael, the selling side increased by 900,000 VND/tael. The loss of gold buyers after 1 month is about 2 million VND/tael.
Meanwhile, Phu Quy adjusted the price of 9999 gold rings from 141.8 - 144.8 million VND/tael to 144 - 147.2 million VND/tael. The buying side increased by 2.2 million VND/tael, the selling side increased by 2.4 million VND/tael. Gold buyers after 1 month still lost about 800,000 VND/tael.
The above developments show that the increase in gold prices does not mean that all buyers are profitable. The gap between buying and selling prices is still a factor directly affecting investment results in the short term.
In the context that world gold prices are showing signs of adjustment downwards, the domestic gold market may continue to be affected if the international trend lasts. People need to be cautious, avoid the psychology of chasing purchases when prices increase sharply (FOMO), and should not use financial leverage to buy gold. Especially, when the buying-selling difference is high, the risk of losses immediately after the purchase time will be greater.
As of September 18, world gold prices were listed at 4, 349.5 USD/ounce, down 51.2 USD/ounce compared to the 4, 400.7 USD/ounce recorded on August 18. The downward trend of the international market creates certain pressure on domestic gold prices, although businesses still maintain high price levels.
The article only updates the developments of the gold market and factors affecting the price of precious metals, not investment recommendations.
