Gold shop owners say the gold market is "hotter" these days, with more people coming to buy and sell.
Following a sharp decline following directives from Deputy Prime Minister Ho Duc Phoc, the gold market unexpectedly reversed course. According to reporters' observations on the afternoon of April 22, 2025, SJC Company listed the selling price of gold bars at 124 million VND/ounce and the buying price at 122 million VND/ounce, an increase of 6 million VND in both directions compared to the previous day. Meanwhile, gold rings (1-5 taels) also followed the upward trend, reaching 116 million VND/ounce for buying and 119 million VND/ounce for selling.
At gold shops, many people are taking advantage of the opportunity to sell their gold to lock in profits. Duong Gia Bao, an employee at The Hung Minh gold shop (Ward 1, Tan An City, Long An Province), said: “For about a week now, there has been a large number of customers coming to sell gold. Most are people who bought it earlier when the price was low, and now that they see the price of gold rising sharply, they are taking advantage of the opportunity to sell and make a profit.”
Mr. Nguyen Minh Hoa (Thanh Vinh Dong commune, Chau Thanh district) said: “I bought 9999 gold rings when the price was nearly 90 million VND/ounce. Seeing the price of gold rise, I decided to sell it at 116 million VND/ounce, and I will buy it back when the price drops.”
According to gold shop owners, in recent days, the price fluctuations of gold have not been just a few hundred thousand dong but have reached several million dong, even with only a one-day difference. This has made the market even more vibrant as the demand for gold as a store of value has increased sharply. Many people even buy large quantities to invest in short-term trading, seeking profits from price differences. Among the products, plain gold rings are currently the most popular item because they are easy to invest in and do not require processing fees.
Having just bought a 9999 gold ring on the afternoon of April 21, 2025, Mr. Tu (Binh An commune, Thu Thua district) shared: “Compared to investment channels like stocks or real estate, gold is much simpler and doesn't require deep financial knowledge. Therefore, every month when I receive my salary, I set aside a portion to buy gold to save and accumulate for the long term. Seeing the price of gold constantly increasing, I'm afraid I won't be able to afford to buy it again later.”
Many people, especially young people, choose gold as a gift, seeing it as a way to express affection while also having a symbolic meaning of saving. Mr. Le Doan Cong Luan (Ward 4, Tan An City) recently bought his girlfriend an 18K gold ring (3 phân) for 7.2 million VND on the afternoon of April 21, 2025. "This gift is both a memento and a small savings plan for the two of us," Mr. Luan said.
According to gold shop owners, when buying gold for investment purposes, buyers should choose highly liquid types, meaning they can be quickly resold when needed, such as gold bars, 9999 gold, 24K gold, etc. In addition, buyers should purchase gold from reputable establishments with clear documentation to ensure quality.
Amidst high inflation and geopolitical tensions, gold remains a safe haven, so the price of this precious metal on the world market is still expected to rise. However, people need to be cautious and carefully consider their investments, avoiding chasing short-term price surges in order to protect their assets sustainably.
Thu Thao
Source: https://baolongan.vn/can-trong-dau-tu-trong-con-sot-gia-vang-a194031.html
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