Gold prices increase sharply but profits are not high
At the end of the weekend trading session, the price of SJC gold bars at DOJI Group and Saigon Jewelry Company SJC was listed at 98.4 million VND/tael (buy) and 100.7 million VND/tael (sell). Compared to the trading session on March 23, the price of SJC gold bars increased by VND4 million/tael for buying and VND3.3 million/tael for selling.
However, with a difference of up to 2.3 million VND/tael in buying and selling prices, investors who bought gold last week and sold it today only made a profit of 1 million VND/tael, lower than expected when the gold price had a strong increase.
For 9999 gold rings, the situation of thin profits is even more obvious. The price of Hung Thinh Vuong 9999 round gold rings at DOJI is at 98.4-100.7 million VND/tael, an increase of 2.8 million VND/tael for buying and an increase of 2.5 million VND/tael for selling. The difference between buying and selling prices is also at 2.3 million VND/tael. If buying gold rings in the session of March 23 and selling today, investors will only make a profit of 200,000 VND/tael.
At Bao Tin Minh Chau, the price of gold rings is listed at 98.9-100.9 million VND/tael, an increase of 2.8 million VND/tael for buying and an increase of 2.3 million VND/tael for selling. Investors who bought last week and sold today also made a profit of only 300,000 VND/tael.
High price difference, risks for investors
Although gold prices have continuously hit new peaks, the gap between buying and selling prices is currently high, directly affecting investors' profits. In the context of strong market fluctuations, buying gold at a large price difference can put investors at risk, especially when prices are adjusted.
The high price difference forces investors to wait for prices to increase more strongly to make a significant profit. For example, if an investor buys SJC gold at a selling price of VND100.7 million/tael and immediately wants to resell it at a buying price of VND98.4 million/tael, they will lose VND2.3 million/tael due to a large price difference.
To make a profit, gold prices need to increase by at least 2.3 million VND/tael, which must exceed 100.7 million VND/tael. This increases the risk of investment. Therefore, the large price difference range creates a disadvantage for those who intend to short-term surfing. When buying at a high level, if prices do not continue to increase sharply or there is an adjustment, investors will take more time to make a profit. This is a factor that needs to be carefully considered before deciding to invest in gold in the current period.
Experts recommend that when deciding to invest in gold, investors should not only pay attention to the upward trend but also consider the difference between buying and selling prices to optimize profits and limit risks. In the context of strong fluctuations in gold prices, choosing a reasonable buying and selling time and closely monitoring market developments is very important.
