Gold prices are soaring, with a significant difference between buying and selling prices.

Following the upward trend in global gold prices, domestic gold prices, particularly in the Hai Duong market, skyrocketed on April 16th.

At 3 PM on April 16th, major gold trading brands in Hai Duong such as Bao Tin Manh Hai, Doji , and PNJ listed gold bar prices around 111.7 – 112 million VND/ounce for buying and 113.9 – 114.5 million VND/ounce for selling. The rapid increase since the morning of the same day has resulted in a current price increase of 6.5 million VND/ounce for buying and 6 million VND/ounce for selling compared to the morning of the same day.

In just a few hours on April 16th, buying SJC gold bars early in the morning and selling them later that same day could yield a profit of up to 4 million VND per ounce. This is the highest and fastest profit margin in at least the past two years for SJC gold transactions.

At the same time, for 9999 pure gold rings, the aforementioned brands traded around 110.3 - 109.8 million VND/ounce for buying and 113.1 - 113.8 million VND/ounce for selling. Hai Hong and HJL gold brands traded 9999 pure gold rings around 107 million VND/ounce for buying and 109 million VND/ounce for selling.

These prices all increased by an average of 3.5 million VND/ounce in both buying and selling directions compared to the morning of the same day.

At Hai Hong gold shop, from early morning until around 3 PM on April 16th, more than 100 transactions were recorded, mainly people coming to buy gold rings (illustrative photo).

Domestic gold prices rose sharply due to the influence of global gold prices. At 3:17 PM on April 16th, the world gold price was at 3,311.9 USD/ounce (equivalent to 103.86 million VND/ounce according to the Vietcombank exchange rate), an increase of 82.8 USD/ounce compared to the same time on April 15th.

According to many experts, the trading price of gold rings is usually close to the market price. However, the quality of gold rings is inconsistent, depending on the reputation of each business. Therefore, this type of gold usually only maintains its value when bought and sold at the correct brand. For example, people who buy gold rings at Hai Hong and sell them at Bao Tin Manh Hai will have to trade at Bao Tin Manh Hai's listed "unofficial" price.

World gold prices traded on the Kitco exchange at 3:17 PM on April 16 (screenshot)

SJC gold bars are the national gold bar brand, with production managed by the State Bank of Vietnam. Therefore, they have higher liquidity than gold rings. As a result, gold bars are included in the State Bank of Vietnam's price stabilization program.

If people are looking for a safe investment, they can choose SJC gold bars.

However, experts also believe that in the current context, the price difference between gold bars and gold rings is not significant, and they are heavily influenced by world gold prices. Therefore, while gold may be a safe haven, it remains a high-risk investment.

HA KIEN

Source: https://baohaiduong.vn/gia-vang-phi-ma-chenh-lech-mua-ban-lap-dinh-it-nhat-2-nam-qua-409549.html