SJC gold bars increase in price, buyers still lose money
Closing the week's trading session, SJC gold bar prices were listed by large enterprises at 144.6-147.6 million VND/tael (buying - selling). The difference between the buying and selling directions remained at 3 million VND/tael.
At Saigon Jewelry Company (SJC) and DOJI Group, SJC gold bar prices both recorded an increase of 1.6 million VND/tael in both buying and selling directions compared to the closing session of last week (September 13).
Although SJC gold bar prices have increased in the past week, investors bought at the price range of the session on September 13 and sold in today's session still suffered a loss of 1.4 million VND/tael. The reason comes from the fact that the buying price of businesses is significantly lower than the selling price, causing buyers to bear an additional difference immediately when trading.
9999 gold rings: Some places buyers lose up to 3 million VND/tael
On the 9999 gold ring market, developments also show that prices are increasing, but short-term buyers are still under pressure to lose money.
DOJI Group listed gold ring prices at 144-148 million VND/tael (buying - selling), an increase of 1 million VND/tael in both directions compared to a week ago. However, with a buying - selling difference of up to 4 million VND/tael, gold ring buyers at DOJI in the session on September 13 and selling in today's session suffered a loss of about 3 million VND/tael.
Meanwhile, Phu Quy Jewelry Group listed the price of gold rings at 144.6-147.6 million VND/tael. Compared to a week ago, the buying price increased by 1.6 million VND/tael, and the selling price increased by 1.2 million VND/tael. The buying - selling difference here is at 3 million VND/tael.
If buying gold rings at Phu Quy in the session on September 13 and selling them in today's session, buyers will suffer a loss of about 1.8 million VND/tael.
World gold prices increase by more than 29 USD/ounce
On the international market, gold closed the trading week at 4,377 USD/ounce, up 29.3 USD/ounce compared to a week ago.
The increase in world gold prices has supported the domestic market to rise. However, the increase in gold prices is not enough to compensate for the gap between buying and selling prices at gold businesses.
Especially, when the market fluctuates strongly, a high buying-selling spread can cause investors to suffer even in the event that gold prices rise. This is a factor that needs to be considered in addition to the up and down trend of gold prices.
Strong increases often attract the attention of buyers, but chasing crowd psychology or buying gold with borrowed capital can increase risks if the market reverses direction.
Investors need to carefully consider their financial capacity, not use leverage to buy gold, avoid the FOMO mentality (fear of missing opportunities) when prices rise sharply. In particular, it is necessary to note that the buying - selling difference is at a high level, because this may be a factor directly affecting the efficiency of gold trading in the short term.
The article only updates the developments of the gold market and factors affecting the price of precious metals, not investment recommendations.
