Should I buy SJC gold bars or plain 9999 gold rings?
For the domestic market, the price of SJC gold bars has recently been unpredictable, not following the global trend. After several sessions of sideways movement, the price of SJC gold bars is now being adjusted upwards. The selling price of SJC gold bars by the State Bank of Vietnam today, August 20th, is 80 million VND/ounce, an increase of 1 million VND/ounce.
The difference between the buying and selling price is at around 2 million VND per tael.
Even with the price increase, investors who buy in the short term will still incur losses. For example, if you bought gold on August 1st at 79.8 million VND/ounce and sold it today, August 20th, at 79 million VND, you would lose 800,000 VND/ounce.
In reality, buying SJC gold bars at gold shops is currently quite difficult. Most stores have announced that they have sold out of gold bars and are only selling jewelry products.
Meanwhile, the price of 9999 pure gold rings closely follows the world gold price. While it once closely tracked the price of SJC gold bars, the price of gold rings is currently about 2.7 million VND/ounce lower.
In early August, the price of 9999 Hung Thinh Vuong gold rings at DOJI Gold and Gemstone Group was listed at 76.45-77.65 million VND/ounce; Saigon Gold and Gemstone Company listed it at 76.3-77.65 million VND/ounce (buying price - selling price) and Bao Tin Minh Chau listed it at 76.43-77.63 million VND/ounce (buying price - selling price).
As of today (August 20th), the price of 9999 pure gold rings at DOJI has increased to 77.05-78.30 million VND/ounce (buying price - selling price), Saigon Jewelry Company has increased to 77.05-78.35 million VND/ounce (buying price - selling price), and Bao Tin Minh Chau has increased to 76.98-78.28 million VND/ounce (buying price - selling price).
Therefore, if you bought 9999 pure gold rings from Hung Thinh Vuong at DOJI on August 1st and sold them today, you would lose approximately 600,000 VND per tael. Meanwhile, the losses when buying from Saigon Jewelry Company (SJC) and Bao Tin Minh Chau are 600,000 VND per tael and 650,000 VND per tael, respectively.
Therefore, although the price of 9999 pure gold rings has increased, investors are still incurring losses when buying in the short term. This loss stems from the difference between the buying and selling prices listed by businesses.
It is very difficult to buy gold bars.
According to observations by reporters from Lao Dong newspaper during recent trading sessions, business at several gold, silver, and gemstone shops in Hanoi has been very sluggish. Most shops have reported having no SJC gold bars in stock.
An employee at a gold shop on Cau Giay Street (Hanoi) said: "SJC gold bars have been unavailable for sale for nearly two months now. As for 9999 pure gold rings, our staff can't pinpoint the exact opening times each day. We only know that we'll sell them to customers whenever the shop has them in stock."
Gold price update
As of 5:50 PM, the price of SJC gold bars was listed by DOJI Group at 79-81 million VND/ounce (buying price - selling price); Saigon SJC Gold and Precious Stones Company listed the price at 79-81 million VND/ounce (buying price - selling price).
At the same time, the world gold price listed on Kitco was at $2,522.2 per ounce.
Source: https://laodong.vn/tien-te-dau-tu/gia-vang-tang-manh-nen-luot-song-vang-mieng-hay-vang-nhan-1382393.ldo
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