Is investing in gold rings or SJC gold more profitable?

As of 4 PM on March 20, 2024, the price of SJC gold in Vietnam fluctuated slightly downwards in the selling price. Specifically, Saigon Jewelry Company Limited (SJC) listed the buying price of SJC gold at 79.4 million VND/ounce and the selling price at 81.4 million VND. Compared to the early morning of the same day, the price of SJC gold at this company was adjusted down by 100,000 VND in the buying price and 120,000 VND in the selling price.

The difference between the buying and selling price at this unit is currently 2 million VND.

Gold prices listed at Saigon Gold, Silver and Gemstone Company Limited. Screenshot from website at 5:00 PM on March 20, 2024.

At the same time, the price of SJC gold at Bao Tin Minh Chau was also adjusted downwards compared to the early morning of the same day. Currently, the buying price of SJC gold is 79.45 million VND/ounce and the selling price is 81.25 million VND/ounce. Compared to the early morning of the same day, the price of SJC gold was adjusted down by 150,000 VND/ounce in both buying and selling directions by this unit.

Gold prices listed at Bao Tin Minh Chau. Screenshot from the website at 5:00 PM on March 20, 2024.

Today, the global gold market is declining, trading around the resistance level of $2,150 per ounce and may continue its downward trend from this level as the market anticipates almost certainly that the US Federal Reserve (FED) will not cut interest rates at its ongoing meeting.

However, investors are currently awaiting statements from FED leaders to understand the future trajectory of US monetary policy easing, which will determine the trend of gold prices.

With the global gold market remaining stagnant, awaiting policy decisions from the FED, domestic investors are also anxiously awaiting information to decide whether or not to invest in gold at this time.

Mr. Nguyen Tran Trung (Hoang Mai, Hanoi ) said that he has some money and is unsure whether to invest in real estate or gold. If he invests in gold, he wonders whether he should choose gold rings or gold bars. "In recent trading sessions, the price of SJC gold has fluctuated slightly; but last week, the price of SJC gold and gold rings continuously reached record highs, creating a rush to sell gold," Mr. Trung shared, expressing his concern that the allure of gold has never diminished, but he wonders whether it's a good time to invest in gold.

The allure of gold has never waned, but is it a good time to invest in gold? (Illustrative image)

Offering advice to investors and the public, some economic experts believe that the gold market remains unpredictable in the current context. The domestic gold market is not interconnected with the global market. Furthermore, the domestic gold market is awaiting signals from the Government and the State Bank of Vietnam regarding market policies.

Previously, commenting on the gold market in 2024, Mr. Huynh Trung Khanh - Vice Chairman of the Vietnam Gold Business Association - stated that the trend for gold prices in 2024 would be more upward than downward. In 2024, gold will continue to be a safe haven for investors. When the economy stabilizes and other investment channels such as real estate and stocks recover, gold prices tend to fall or remain stable. Conversely, if the economy remains difficult and other investment channels stagnate, gold prices may rise due to people's tendency to hoard and use gold as a precautionary measure.

Regarding gold rings, experts believe that domestic gold ring prices closely follow world gold prices, thus minimizing volatility and risk. Furthermore, domestic gold ring prices are more affordable than SJC gold bars. For those with average or low incomes, gold rings remain a popular choice.

Meanwhile, for SJC gold bars, the price difference between domestic and international gold bars is currently very high. Gold bar prices are not linked to the global market; therefore, investing in gold bars at this time is only suitable for risk-takers due to the rapid and continuous fluctuations, which can occur daily or even hourly.

"Regarding investment in gold bars, investors and the public should wait a little longer until the Government and the State Bank of Vietnam implement policies and solutions to manage the market. If the State Bank of Vietnam supplements the supply of SJC gold into the market, the price of gold will decrease," experts analyze and advise, recommending that investors and the public monitor gold price information from official channels to make sound and appropriate decisions, avoiding speculative losses.

Source: https://congthuong.vn/dau-tu-vang-nhan-hay-vang-sjc-se-lai-hon-309839.html