SJC gold price keeps increasing, experts reveal profit-taking milestone

Gold is considered an asset that helps diversify investment channels, is a hedge against inflation and recessions that has been proven many times. It is also an asset that Vietnamese people use to pass on to future generations.

From his experience, Mr. Ngo Thanh Huan - CEO of FIDT Investment Consulting and Asset Management JSC - said that each person should have 5 - 15% of their total assets in gold. Especially in the context of the world with many potential risks like today, gold further strengthens its role in protecting each person's investment portfolio.

If the price of gold suddenly increases by 15% or more, it is time to sell and wait for a cheaper price to buy back. This is also a simple method that non-professionals can apply in investing in precious metals. If you buy more, you should wait for the decline, not buy to chase the increase.

According to Mr. Huan's perspective, history has shown that after a sharp increase, gold always enters a long period of deep decline and sideways movement. Therefore, when investing, you should only accumulate and buy a lot when the price drops especially sharply.

Gold Avanue also suggests that investors should not wait for economic or geopolitical instability but should regularly add gold to their portfolio. This way, you will be able to take advantage of the precious metal's long-term growth potential and benefit from a reasonable average price.

Domestic gold prices today (November 29) fluctuated strongly throughout the trading session. At the end of the day, SJC gold was priced at 72.40 - 73.62 million VND/tael (buy - sell), down 100 VND/tael for buying and up 100,000 VND/tael for selling.

DOJI gold price in Hanoi is listed at 72.20 - 73.70 million VND/tael (buy - sell), down 100 VND/tael for buying and up 200,000 VND/tael for selling. DOJI gold in Saigon has a similar price but down 400,000 VND/tael for buying and up 100,000 VND/tael for selling.

The price of 9999 gold rings also increased sharply, setting a new record. PNJ gold rings have a listed buying and selling price of 61.30 - 62.45 million VND.

Meanwhile, the world gold price remained stable at around 2,039 USD/ounce after 4 consecutive sessions of increase. The main driving force came from the falling USD and the expectation that the US Federal Reserve (FED) has completed raising interest rates.

Source