Gold prices surge ahead of the God of Wealth Day.

On the morning of February 25th, the domestic gold market surged, surpassing the 185 million VND/ounce mark just before the God of Wealth Day (the 10th day of the first lunar month).

Domestic gold prices rose across the board ahead of the God of Wealth Day.

At the opening of the trading session on February 25th, Saigon Jewelry Company Limited (SJC) listed the price of gold bars at 182.3 - 185.3 million VND/ounce (buying price - selling price), an increase of 700,000 VND/ounce in both buying and selling prices compared to the closing price on February 24th. Major gold brands in Hanoi also listed SJC gold bars at this level.

Following the upward trend, the price of 9999 pure gold rings traded at Bao Tin Minh Chau and DOJI was around 182.3 - 185.3 million VND/ounce (buying price - selling price). Meanwhile, Phu Quy Gold Investment Joint Stock Company traded gold rings at 181.8 - 184.8 million VND/ounce (buying price - selling price).

At 9:00 AM (Vietnam time), the world gold price was trading around $5,180 per ounce. Converted using the Vietcombank exchange rate, each ounce of world gold is worth approximately 164.3 million VND. Therefore, the domestic gold price is currently about 21 million VND per ounce higher than the world gold price.

Gold trading is booming ahead of the God of Wealth Day.

Observations at Tran Nhan Tong and Cau Giay streets in Hanoi, known as the "gold streets," where many famous gold brands are concentrated, show that from early morning, many people lined up along the sidewalks to get numbers for transactions. According to representatives of several gold brands, the majority of customers came to buy, so the stores will limit the quantity sold to serve more customers.

According to gold shops, from after Tet (Lunar New Year) until the God of Wealth Day (the 10th day of the first lunar month), the demand for gold has increased significantly. Shops have mobilized additional staff, ensured security and order, and arranged parking spaces to serve customers during this peak period.

The shops displayed a variety of gold products themed around the Year of the Horse.

According to economist Dr. Nguyen Tri Hieu, many people believe that buying gold on the day of the God of Wealth will increase their fortune and luck. However, queuing from night until morning in the cold, rainy weather of Hanoi can immediately affect one's health. Furthermore, observations from recent years show that gold prices often adjust downwards after the day of the God of Wealth, meaning there is a risk of short-term losses.

"For those buying for good luck, they can choose to buy small, symbolic quantities. Conversely, if the goal is investment or large-scale hoarding, buyers need to be cautious to avoid the risk of price fluctuations after the peak of the God of Wealth festival. Even from an investor's perspective, this could be a time to 'take profits' when prices are pushed higher," said Dr. Nguyen Tri Hieu.

Sharing his investment strategy for this time, Mr. Nguyen Quang Huy, CEO of the Finance and Banking Faculty (Nguyen Trai University), suggested that investors should diversify their portfolios instead of focusing solely on gold, especially given the unpredictable fluctuations of the market. Investors need to carefully research and assess the potential and risks of each channel before investing, rather than following the crowd mentality.

According to Mr. Huy, gold should only account for about 10% of a total asset for investors; exceeding 10-20% can create concentration risk, especially when the market enters a correction cycle. The remainder should be maintained in bank deposits or other growth channels such as real estate and stocks to ensure cash flow and profit opportunities.

Source: https://baotintuc.vn/kinh-te/gia-vang-bat-tang-truc-ngay-via-than-tai-20260225085058090.htm