Gold price rises to nearly 143 million VND, experts warn of risks if "buying at the top"

(Dan Tri) - Experts advise people to be cautious when buying and selling gold, avoid investing emotionally and falling into the "virtual fever" trap.

At the end of this weekend's trading session (October 10), SJC gold bar prices were listed by businesses at 140.8-142.8 million VND/tael (buy - sell).

Last week, SJC gold bars "started" at 136.6-138.6 million VND/tael (buy - sell). Thus, this item increased by 4.2 million VND each way after a week and set a new record peak.

SJC gold bars have increased more than 70% compared to the price of 82.2-84.2 million VND/tael (buy - sell) at the beginning of the year.

Gold jewelry items are displayed for sale by businesses (Photo: Hai Long).

Experts: People need to be careful when trading gold

To gold buyers, Mr. Nguyen Quang Huy, CEO of the Faculty of Finance and Banking, Nguyen Trai University, advised investors and people to be cautious because the world and domestic gold prices are at record peaks in many years. People need to analyze, research, assess risks, and avoid emotional decisions.

Experts assess that the current gold price is still in a sensitive area. Investors need to balance their portfolios with other channels such as savings deposits, stocks, real estate, etc., to avoid depending on the gold channel.

When trading on the open market, buyers need to pay attention to the quality of gold and liquidity. In some cases, gold purchased at a store should only be sold at that store.

He also noted the situation of gold loss, fake gold, mixed gold, and unsatisfactory quality ratio. People who really want to buy gold should consider carefully when trading in this market. In case of buying for investment or speculation, it should be limited because there are many potential risks.

"Buying gold from unknown sources has a high risk of counterfeit and poor quality goods, and puts buyers in a complicated legal situation if the transaction does not comply with regulations. Therefore, investors and consumers are advised to choose reputable gold trading establishments with clear certification to ensure their rights and assets," he said.

During the period when domestic prices are significantly different from international prices, up to 15 million VND/tael, experts believe that opportunities mainly come to those who are able to grasp them quickly. These are those who buy early, sell at the right time, and take advantage of the price difference in a short period of time.

Gold trading businesses benefit from the widening buying and selling margin and vibrant market demand, leading to increased transaction revenue.

Gold bars are displayed for sale by businesses (Photo: Thanh Dong).

Avoid falling into the "virtual fever" trap

According to Associate Professor Dr. Nguyen Huu Huan, lecturer at the University of Economics Ho Chi Minh City (UEH), the abolition of the monopoly in gold bar trading will take effect from October 10, but there is currently no clear information about the number of banks or businesses that will participate in this market.

According to this person, ending the monopoly on gold bars is a necessary condition, but not enough. For the gold market to operate stably and effectively, there needs to be more synchronous solutions.

"For example, establishing a gold trading floor in an international financial center, or issuing gold credits to mobilize the amount of gold currently held by the people. These will be important steps to stabilize and develop the gold market in the coming time," Mr. Huan said.

Gold buyers are advised to follow official information from the Government , the State Bank and relevant agencies to avoid falling into the trap of "virtual fever". In addition, customers should not trade in the "black market" because of the fear of missing out and have a correct understanding of the market as well as legal regulations to make the right investment decisions.

On October 10, Decree 232 amending and supplementing a number of articles of Decree 24 on the management of gold trading activities officially took effect. Specifically, the monopoly policy on gold bars was abolished, units were allowed to produce gold bars when meeting the prescribed conditions, the State Bank will grant licenses to import raw gold to banks and businesses...

However, the State Bank currently has no information on which units are licensed to produce gold bars.

According to Circular 34 issued by the State Bank on October 10, the operator will grant limits to each enterprise and bank according to capital scale, gold bar import and export situation, raw gold import situation, and raw material usage situation depending on the purpose.

In addition to the new regulations on the production of gold bars, from October 10, the export tax rate on gold jewelry and industrial gold will be reduced from 1% to 0%. Other products made of gold or silver will also have their tax rates reduced similarly.

Source: https://dantri.com.vn/kinh-doanh/gia-vang-len-sat-143-trieu-dong-chuyen-gia-canh-bao-rui-ro-neu-du-dinh-20251004114202706.htm