Gold price today August 10: Set a record high but profit is far lower than stocks

Gold bar prices at Saigon Jewelry Company (SJC) surged this week to a new record high. Currently, SJC is buying each gold bar for 123.2 million VND and selling it for 124.4 million VND, an increase of 1.7 million VND in the buying price and 900,000 VND in the selling price compared to the end of last week. The larger increase in the buying price has narrowed the price difference to 1.2 million VND per bar, down from 2 million VND last week.

The current selling price of SJC gold bars has set a new all-time record. However, after a week, buyers of gold bars only made a profit of 200,000 VND per tael, equivalent to a 0.16% return. This profit margin is far less than that of stock market investors, whose VN-Index also continuously set new records last week, approaching 1,600 points, and numerous stocks increased by 10-15% in just one week.

Domestic gold prices hit a new record high this week, but buyers made very little profit or even suffered losses (PHOTO: NGOC THANG).

Even more disheartening is that those who bought gold rings, despite the high prices, still suffered losses. Specifically, 9999 gold rings at SJC Company increased by 800,000 VND after one week, bringing the buying price to 117.3 million VND and the selling price to 119.8 million VND. The difference between the buying and selling price of gold rings remained at 2.5 million VND/ounce, meaning buyers lost up to 1.7 million VND after just one week.

World gold prices rose by more than $36 in a week, reaching $3,397.6 per ounce. The upward trend continued as US tariff policies against various countries officially took effect. Specifically, US President Donald Trump imposed a 39% tariff on imports from Switzerland to the US. The US Customs and Border Protection (CBP) announced that 1 kg gold bars are not exempt from tariffs. Switzerland is the world's largest gold refiner.

A Kitco News survey on gold price trends for the coming week, involving 10 analysts, showed that 6 (60%) predicted a rise in gold prices. Only 1 (10%) forecast a decline, and 3 (30%) believed gold would remain stable. Meanwhile, an online Main Street survey of 188 individual investors revealed that 129 (69%) also predicted a continued rise in gold prices. Conversely, 23 (12%) predicted a decline, and the remaining 36 (19%) believed the precious metal would remain unchanged.

According to Thanh Nien Newspaper

Source: https://thanhnien.vn/gia-vang-hom-nay-1082025-lap-dinh-ky-luc-nhung-lai-thua-xa-chung-khoan-18525081007282344.htm

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