In just the past three days, domestic gold prices have surged by 16-17 million VND per tael, far exceeding world gold prices by more than 10 million VND per tael. People are rushing to queue up to buy gold. In this frenzy, who benefits?
Prices are skyrocketing.
Saigon Jewelry Company and other listed businesses SJC gold bar price Gold prices are at 115.5-118 million VND/ounce for buying and selling, an increase of 8.7 million VND/ounce for buying and 8.2 million VND/ounce for selling compared to yesterday morning's session. The difference between buying and selling prices is 2.5 million VND/ounce.
At the same time, gold ring price It was also adjusted upwards to unprecedented highs.
Specifically, Saigon Jewelry Company listed gold rings at 114 - 117 million VND/ounce for buying and selling, an increase of 6 million VND/ounce in the buying price and 6.5 million VND/ounce in the selling price compared to yesterday morning's session. The buy-sell spread is 3 million VND/ounce.
Another gold business listed the price of plain gold rings at 113.5 - 116.5 million VND/ounce for buying and selling, an increase of 8.2 million VND/ounce in the buying price and 7.7 million VND/ounce in the selling price compared to the opening of yesterday morning's session. The buy-sell spread is 3 million VND/ounce.
Bao Tin Minh Chau listed the price of gold rings at 115 - 118 million VND/ounce (buy - sell), an increase of 6.7 million VND/ounce in the buying price and 7 million VND/ounce in the selling price compared to yesterday morning's session. The buy-sell spread is 3 million VND/ounce.
In just 3 days, from April 15th to 17th, the price... gold bars SJC gold has increased to 16 million VND/ounce, and gold rings have risen to 16-17 million VND/ounce. However, at some large branded gold shops on Tran Nhan Tong Street (Hai Ba Trung District, Hanoi ), people are flocking and lining up to buy gold.
On the morning of April 17th, the number of customers queuing to buy gold was recorded as being many times higher than the previous day. The number of customers continued to increase day by day. On the day of the God of Wealth festival, at some shops, people lined up in a long queue stretching from the cashier's counter all the way out onto the street.
Surprisingly, at Bao Tin Minh Chau store, yesterday they sold 1 tael of gold per person per day, but today they sold 5 taels. One tael of gold per day per person. Customers can even buy up to 10 taels of gold, with a receipt to pick it up in two days.
Ms. Bich Hang (Long Bien, Hanoi) said: “Today I bought 5 taels of gold rings and 1 tael of gold bars from the Thang Long Gold Dragon store and received them immediately. I ordered another 10 taels of gold to be delivered in two days. With this upward trend, I buy gold whenever it's available.”
According to our reporter's observations, the majority of people came to buy gold today despite the price exceeding all predictions.
Mr. Duc Minh (Thanh Xuan, Hanoi) shared: “Today I saw a huge crowd buying gold, like on the day of the God of Wealth festival. I queued for two hours to buy gold and was worried that by the time it was my turn, the store would have run out of gold.”
Gold prices are far exceeding gold prices. Who benefits from this global situation?
During the gold price surge domestic Prices have been increasing many times over in the past few days. World gold prices. From a difference of 3-5 million VND/ounce, the current domestic gold price is nearly 14 million VND/ounce higher than the world gold price today, with the world gold price listed at 3,317 USD/ounce (equivalent to 104.2 million VND/ounce).
Talk with PV Tien Phong , economist Ngo Tri Long But According to the former Director of the Institute for Market and Price Research, Ministry of Finance , the current record high of 118 million VND/ounce for gold is the highest in history.
Domestic gold prices have risen sharply due to the continuous increase in global gold prices. It set a record. However, due to the scarcity of gold supply, the gap between domestic and international gold prices has widened.
According to Mr. Long, during this "gold rush," prices are rising even faster due to investor sentiment. "In principle, gold shops must profit from trading gold. During this gold rush, gold businesses never want to suffer losses, so they set a large spread between buying and selling prices, up to 3 million VND per tael," Mr. Long said.
The expert said, although there are no statistics yet on profit Gold businesses face significant risks after each gold price surge, but the biggest beneficiaries are still gold dealers. Individuals who buy gold face a "double" risk: if the price falls, they have the potential to profit if the price rises.
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