Have money, buy gold or save money at this time?

From the beginning of the year, is it better to save or buy gold to receive more money?

Buying gold and saving in banks are two familiar forms of investment for Vietnamese people, due to their stability and potential to protect and increase capital value.

Many investors are wondering which investment channel is effective, in the context of gold prices continuously hovering at over 80.5 million VND/tael, while interest rates at banks are about to increase.

At the opening session of the year, SJC gold bar prices were listed by large enterprises at 70.5-73.5 million VND/tael (buy - sell).

Compared to the current time (September 11), each tael of gold bar has increased by 7 million VND for buying and 8.1 million VND for selling. Previously, in May, there was a time when SJC gold bars set a record peak of 92.4 million VND for selling.

Thus, since the beginning of the year, if an investor has 500 million VND, he or she can buy nearly 7 taels of gold. Currently, each tael of gold that the investor holds has generated a profit of more than 5 million VND, with a total profit of 35 million VND, equivalent to an interest rate of about 9.4%/year.

Meanwhile, for bank savings channels, a survey by Dan Tri reporters showed that the deposit interest rate table at more than 30 commercial banks, as of January 1, the average 12-month deposit interest rate at the counter was 5%/year, down 0.2 percentage points compared to early December 2023 and down 3.4 percentage points compared to the peak of the previous year.

As of early September, 12-month term deposits received common interest rates from 4.7%/year to 5.7%/year, an average increase of 0.5-1 percentage point compared to the beginning of the year. Currently, many units list 12-month term interest rates at over 6%/year.

Taking the common benchmark of 6%/year, if an investor has 500 million VND in savings since the beginning of the year (equivalent to 9 months of deposits), the estimated interest earned is 22.5 million VND.

Thus, since the beginning of the year, the gold investment channel has been superior to bank savings in terms of yield. However, investors may face the risk of complex price fluctuations, leading to losses if only trading in the short term. Savings with low interest rates but stable profits are suitable for those who do not like to take risks or "surf" investments.

Personal financial planning expert - asset manager Ngo Thanh Huan noted that when investors hold gold, they should pay more attention to the socio-economic situation and the stock market. When the economy is stable, the price of gold will cool down, at that time investors should "sell all" gold, or keep a small amount.

The expert gave an example of the period 2013-2016 when the economy was stable, the price of gold was maintained at a stable level for 3-4 consecutive years, without fluctuations.

Although bank savings are a safe investment channel, they are not an effective profit channel in 2024 and the first half of 2025. The expert also advised that investors should also promptly adapt their investment portfolios and not "put all their eggs in one basket".

Gold is still an attractive investment channel

Regarding the gold investment channel, Mr. Le Xuan Huy, a personal financial investment expert, said that since the beginning of the year, there have been many strong price increases. Although the State Bank has intervened promptly, causing the gold price to drop rapidly, this is still an extremely attractive investment channel since the beginning of the year.

Experts say gold is still an attractive investment channel compared to bank savings (Photo: Manh Quan).

Meanwhile, for bank savings channels, savings interest rates from the beginning of the year until now are still at a record low. Although interest rates have increased slightly recently, the 1-year deposit interest rate of only around 5-6% is not attractive enough for investors.

According to experts, gold investment from now until the end of the year will be more attractive than savings.

For the world gold market, the possibility that the US Federal Reserve (Fed) will reduce interest rates at its meeting this September is relatively high, and this is the beginning of a new round of interest rate cuts by the Fed. Therefore, both in the short term and in the long term, gold prices are on an upward trend.

As for savings interest rates, when the Fed officially enters a new interest rate cut, the State Bank's loose monetary policy will have more grounds to continue to be maintained or even loosened further. Therefore, short-term and long-term interest rates will remain the same or even tend to decrease slightly.

Source: https://dantri.com.vn/kinh-doanh/co-tien-mua-vang-hay-gui-tiet-kiem-thoi-diem-nay-20240911092409252.htm