Buying gold rings is more profitable than buying gold bars.
A month ago, DOJI Group listed the price of SJC gold bars at 79 - 81 million VND/tael (buy - sell). Saigon SJC Jewelry Company listed the price of SJC gold at 79 - 81 million VND/tael (buy - sell).
By today's session (September 27), the price of SJC gold bars adjusted up to 81.5 - 83.5 million VND/tael (buy - sell). Meanwhile, Bao Tin Minh Chau listed the price of SJC gold at 81.5 - 83.5 million VND/tael (buy - sell).
Thus, after one month, the buyer of SJC gold bars at DOJI Group earned a profit of VND500,000/tael; meanwhile, the profit when buying SJC gold bars at Bao Tin Minh Chau was also VND500,000/tael.
For ring gold, on August 27, the price of 9999 Hung Thinh Vuong round ring gold at DOJI was listed at 77.45-78.55 million VND/tael (buy - sell); Saigon Jewelry Company listed the price of ring gold at 77.3-78.65 million VND/tael (buy - sell).
At 3:00 p.m. today, September 27, the price of 9999 Hung Thinh Vuong round gold rings at DOJI was listed at 82.5-83.35 million VND/tael (buy - sell); Saigon Jewelry Company also adjusted the price of plain round gold rings to increase to 81.5 - 83 million VND/tael (buy - sell).
Thus, after one month of paying, the buyer of plain round gold rings at DOJI will earn 3.95 million VND/tael. Meanwhile, the profit when buying plain round gold rings at Saigon Jewelry Company will be 2.85 million VND/tael.
Why is buying gold rings more profitable than buying gold bars?
Firstly, we can talk about the difference between buying and selling. The difference between buying and selling SJC gold is always higher than that of 9999 round gold rings. Currently, the difference between gold bars is at 2 million VND/tael, while gold rings are only around 850,000 VND to 1.5 million VND/tael.
For example, if you buy a quantity of SJC gold bars at DOJI at the price of 83.5 million VND/tael and immediately sell it on the same day at the price of 81.5 million VND, you will lose 2 million VND/tael. To break even or make a profit, the price of gold bars must be adjusted to increase by more than 2 million VND/tael.
Meanwhile, if you buy a 9999 plain round gold ring at DOJI for 83.35 million VND/tael and sell it on the same day for 82.5 million VND/tael, you will lose 850,000 VND/tael. To break even or make a profit, the price of gold rings only needs to increase above 850,000 VND/tael.
In addition, the increase in the price of gold rings in the past month was much faster than that of SJC gold bars. In the past month, gold bars at DOJI increased by 2.5 million VND/tael in both directions, while this unit adjusted the price up to 4.8 million VND/tael for buying and increased by 5.05 million VND/tael for selling.
Recently, the price of round gold rings has fluctuated with the world trend through the sessions. Meanwhile, the price of SJC gold bars is difficult to predict and is not much affected by the world.
Currently, it is very difficult to buy SJC gold bars and 9999 smooth round gold rings at jewelry stores. Some investors said they could not buy SJC gold bars because the stores stopped selling them. Some stores opened gold rings for sale in small quantities, at irregular times of the day. Therefore, recently, gold rings have become an item of interest to many investors.
Readers can refer to more articles related to gold prices HERE...
