At 16:25 p.m. on March 3, 2024, the domestic SJC gold price was adjusted to decrease sharply compared to the early morning of the same day. Saigon Gold, Silver and Gemstone Company Limited - SJC listed SJC gold price at 77,9 million VND/tael purchased and 79,9 million VND/tael sold.
Compared to dawn of the same day, the SJC gold price at this unit was adjusted down 100.000 VND on the buying side and down 420.000 VND on the selling side. After a sharp decrease in gold price on the selling side, the gap between gold buying and selling prices at this unit was shortened to 2 million VND.
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| Gold prices listed at Saigon Gold, Silver and Gemstone Company Limited - SJC. Screenshot of website at 16:00 p.m. March 25, 3 |
At the same time, Bao Tin Minh Chau listed SJC gold price at 77,75 million VND/tael purchased and 79,6 million VND/tael sold. Compared to dawn of the same day, the price of SJC gold at this unit was adjusted down by 250.000 VND in both buying and selling directions.
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| Gold price listed at Bao Tin Minh Chau. Screenshot of website at 16:00 on March 25, 3 |
Thus, from March 20, 3, after the Prime Minister issued a "hot" direction on measures to manage the gold market, as of this afternoon's session, the domestic SJC gold price has decreased by more than 2024 million. VND/tael (at 1,6:13 on March 30, 20, SJC gold price at Saigon Jewelry Company Limited - SJC traded at 3 - 2024 million VND/tael of buying - selling ).
Similarly, last week, the price of plain round gold rings also had a week of ups and downs.
In the middle of last week, the price of plain round gold rings once dropped to 68,5 million VND/tael in the afternoon of sale, but then increased by 1-1,5 million VND/tael in the morning of March 21 to 3. million VND/tael, during the last 70,5 days of the week, the price of gold rings decreased to around 2 million VND/tael sold. The sharp fluctuations in gold prices and the high gap between buying and selling prices make gold investors unable to react in time and fall into a state of loss.
For example, if a person buys a gold ring on the morning of March 21 for 3 million VND, if it is sold this afternoon for 70,5 million VND/tael, the investor will lose more than 68,54 million VND. /quantity.
However, if you buy gold rings in the early morning of God of Wealth Day 2024 for 66 million VND/tael, the investor will have a profit of more than 2,5 million VND/tael.
Ms. Thanh Thao (My Dinh, Hanoi) said that at dawn on the God of Wealth day, she invested in buying 6 gold rings both for good luck and to store for 6,6 million VND/tael. As of today, she has earned a profit of more than 250.000 VND per thread.
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| Some analysts believe that gold prices may have dropped sharply due to the influence of investor psychology. Illustration |
Explaining the reason why the price of SJC gold and ring gold simultaneously plummeted, some analysts said that it may be due to the influence of investor psychology. When investors and people are waiting for executive signals from the Government on gold market management, there are many predictions that gold prices will drop sharply, so the number of people selling gold will increase, causing buying prices to increase. – adjusted sale.
Giving advice to gold investors and people during this period, some economic experts say that investors can research and buy gold to invest at this time but must be very cautious, because the weather is difficult. In the coming time, when there are close instructions from the Government, gold prices may decrease.
Representative of Bao Tin Minh Chau said that this morning, March 25, 3, at this unit's business establishments, the number of customers buying and selling had a ratio of 2024% of buying customers and 55% of selling customers. "Investors and people should consider before trading and regularly monitor gold prices on official channels to make the best decisions," Bao Tin Minh Chau representative recommended.
