SJC gold bars increase sharply
On September 7, SJC gold bar prices at Phu Quy, DOJI and Bao Tin Minh Chau were listed at 144 - 147 million VND/tael (buying - selling).
Compared to August 7, SJC gold bar prices at Phu Quy and DOJI increased by 4.8 million VND/tael in both buying and selling directions, from 139.2 - 142.2 million VND/tael to 144 - 147 million VND/tael.
With this price, gold buyers at Phu Quy and DOJI a month ago, if resold on September 7, could make a profit of about 1.8 million VND/tael.
Meanwhile, at Bao Tin Minh Chau, SJC gold bar prices increased from 140.5 - 144.5 million VND/tael to 144 - 147 million VND/tael. The buying side increased by 3.5 million VND/tael, and the selling side increased by 2.5 million VND/tael.
However, gold buyers at the time of August 7 at this brand, if resold now, may lose about 500,000 VND/tael, because the current purchase price is lower than the price they have spent.
9999 gold rings in some places increased by up to 5.7 million VND/tael
For 9999 gold rings, the increase recorded is more positive, but the profit of buyers is also quite modest compared to the increase in the listed price.
In Phu Quy, the price of 9999 gold rings increased from 139.2 - 142.2 million VND/tael to 144 - 147.3 million VND/tael. The buying side increased by 4.8 million VND/tael, the selling side increased by 5.1 million VND/tael. Gold buyers a month ago could have made a profit of about 1.8 million VND/tael.
At DOJI, 9999 gold rings increased from 139.5 - 143.5 million VND/tael to 145.2 - 149.2 million VND/tael. Buying and selling prices both increased by 5.7 million VND/tael. However, after calculating the buying - selling difference, buyers can only earn a profit of about 1.7 million VND/tael.
At Bao Tin Minh Chau, 9999 gold rings increased from 140.5 - 144.5 million VND/tael to 145.3 - 149.3 million VND/tael. Both buying and selling sides increased by 4.8 million VND/tael. Buyers after a month can make a profit of about 800,000 VND/tael.
On the international market, gold prices are currently trading around 4,413.6 USD/ounce, an increase of about 156.5 USD/ounce compared to 4,477.1 USD/ounce a month ago.
The upward momentum of world gold prices is one of the factors supporting the domestic market. However, after a period of strong increase, international gold prices are showing adjustment sessions, increasing the risk of fluctuations for the domestic market.
Gold buyers need to be cautious
Although gold prices have increased sharply in the past month, the actual profit of buyers is not too large due to the high buying-selling difference.
Currently, the price difference of SJC gold bars is commonly at 3 million VND/tael, while 9999 gold rings at some brands are up to 4 million VND/tael. This means that buyers may suffer losses as soon as gold prices decrease or the market goes sideways.
Spending money in high price zones poses a major risk if the market reverses direction. If world gold prices decrease, the domestic gold market may be under deeper downward pressure. Investors need to carefully consider before buying, avoid using short-term capital or chasing after crowd psychology.
The information in the article is only intended to update the developments of gold prices in the market, not an investment recommendation. People need to carefully consider risk factors before making decisions to buy or sell gold.
