Queue up to buy despite potential risks in gold prices

The strong fluctuations in gold prices in recent days continue to attract people's attention. Despite the large price difference, many people still do not hesitate to go to gold shops, making the buying and selling atmosphere bustling. The store's limited quantity of gold sold remains, creating a bustling and cautious trading atmosphere.

Recorded by Lao Dong reporter on March 25 at some gold shops in Hanoi, the trading atmosphere was extremely bustling. Many people decided to buy because they saw gold prices tend to increase, while another segment was wondering when selling because it was unpredictable when this precious metal would decrease in price.

At gold shops on Tran Nhan Tong and Cau Giay streets (Hanoi), the demand for gold rings has increased. Many customers are willing to queue for hours to buy gold rings.

Ms. Nguyen Thi Hoa (Cau Giay, Hanoi) shared: "Today I went to the store, but they still limited the quantity sold. I retired, I had time to queue up to buy. No need to spend your free time, buying gold for your children in the future or as a wedding gift for them is good. I didn't pay much attention to the price difference, I came here to queue up to buy, saw many people talking so I was interested. I know it is difficult to make a profit when the price difference is so high, but I still buy."

Ms. Nguyen Phuong Anh (Cau Giay, Hanoi), a customer waiting in line to buy gold rings, said: "I have been lining up since 10:30 am with everyone, but it is not yet my turn to trade. The first floor of the store was too crowded, we were guided to the second floor to wait. By noon, nearly 200 people had come here to buy gold rings, I was the 83rd customer. Yesterday, each person was allowed to buy a maximum of 4 taels of gold, today each person was only allowed to buy 2 taels. When making transactions, the store requires an ID card".

Meanwhile, many people decide to sell gold. Ms. Pham Thi Dung (Nam Tu Liem District, Hanoi) said: "Gold prices have fluctuated continuously recently. Last week, the price of gold rings reached 108 million VND/tael, but today it decreased to more than 98 million VND/tael. Because I needed money, I decided to sell gold.

Before, I bought gold at nearly 80 million VND/tael, afraid that the gold price would decrease further, so today I decided to sell it to make a profit".

Talking to Lao Dong reporter, a media representative of a large gold and gemstone trading unit in Hanoi said that recently the chain of stores of this unit has limited the quantity sold: "Currently, we are limiting the quantity sold for gold. As today, each person can only buy a maximum of 2 taels of plain gold rings. Gold jewelry will not be limited.

Customers who come to buy plain gold rings will be given a quantity number and wait for their turn to trade. In the past two days, the number of customers trading has been large, customers buying gold is still higher than customers selling".

On the afternoon of March 25, DOJI Group listed the price of SJC gold bars at VND95.9-97.9 million/tael (buy - sell), with the difference between the buying and selling prices at VND2 million/tael. Bao Tin Minh Chau listed the price of SJC gold bars at 96 - 97.9 million VND/tael (buy - sell), with a price difference of about 1.9 million VND/tael.

For Hung Thinh Vuong 9999 round gold rings, DOJI Group listed the price at 96.1 - 98.7 million VND/tael (buy - sell), with the difference between the buying and selling prices of 2.6 million VND/tael. Bao Tin Minh Chau also listed the price of gold rings at 96.3 - 98.8 million VND/tael (buy - sell), with a price difference of 2.5 million VND/tael.

The difference between buying and selling prices is too high, such as the current level of 2-2.5 million VND/tael, which can pose many potential risks to investors and consumers. When the price difference is large, buyers must accept a higher price when buying and may not be able to sell at the desired price when deciding to sell.

This means that the ability to recover profits becomes more difficult, which can even lead to losses if gold prices fall. Therefore, investors should consider carefully before trading in the context of the current large price difference, especially when the market trend still has many unpredictable fluctuations.