On the morning of July 26, the price of SJC gold bars at Doji Group in Hanoi and Ho Chi Minh City was bought and sold at around 119.7 - 121.7 million VND/tael, unchanged in both buying and selling prices compared to the previous session. The difference between buying and selling prices per tael was 2 million VND.
SJC gold price at Bao Tin Minh Chau Company stood at 119.7 - 121.7 million VND/tael (buy - sell), unchanged in buying and selling compared to the previous session. The difference between buying and selling per tael was 2 million VND.
The price of SJC gold bars at Phu Quy is around 119.2 - 121.7 million VND/tael (buy - sell), unchanged in both buying and selling prices compared to the previous session. The difference between buying and selling prices per tael is 2.5 million VND.
Domestic gold rings today decreased by half a million VND per tael. (Photo: Lao Dong Newspaper).
The price of Thang Long round gold rings at Bao Tin Minh Chau Company stood at 116.7 - 119.7 million VND/tael (buy - sell), unchanged in both buying and selling compared to the previous session. The difference in buying and selling prices was 3 million VND.
The price of Doji Hung Thinh Vuong 999.9 gold rings of Doji Group in Hanoi market stood at 116.5 - 119 million VND/tael, unchanged in both buying and selling prices compared to the previous session. The difference between buying and selling prices was 2.5 million VND.
The price of 999.9 round smooth gold rings at Phu Quy Company is around 115.5 - 118.5 million VND/tael, down 200,000 VND/tael for both buying and selling compared to the previous session. The difference between buying and selling is 3 million VND per tael.
Economist , Dr. Nguyen Tri Hieu, commented that the gap between buying and selling prices of domestic gold is widening, especially in gold rings made by businesses. However, the price difference of 2-3 million VND/tael will pose risks to gold buyers at this time.
"The difference is too high, which means that gold trading units are pushing the risk onto gold buyers. When investors decide to buy gold, they will have to buy at a high price, but when selling back to these units, they will have to trade at a low price. At the present time, without even calculating the fluctuations, investors just need to buy and sell to immediately lose 2-3 million VND/tael," said Dr. Nguyen Tri Hieu.
According to Dr. Nguyen Tri Hieu, the difference between buying and selling gold prices is usually 300,000 - 400,000 VND/tael. When it increases higher than that, customers will face many risks of buying expensive but selling cheap.
“In the world, the buying and selling gap when trading gold on the floor is only 1-2 USD (equivalent to more than 25,000 VND). In Vietnam, there is still no gold trading floor. Therefore, the buying and selling prices and the difference are all adjusted by each gold trading unit,” said Mr. Hieu.
Mr. Nguyen Quang Huy (CEO of the Faculty of Finance and Banking, Nguyen Trai University) said that the increase makes gold an extremely attractive investment channel in the current context, especially when savings interest rates at banks are low.
However, this is a time when gold prices are quite high, so investors should be very cautious. Gold prices are at their peak, so buying at this time is very risky, and the rate of return is not as high as before. Especially for those who invest in gold for the short term, this time will be extremely risky.
Regarding the difference between buying and selling prices, Mr. Nguyen Quang Huy said that gold businesses must keep a wide difference between buying and selling gold prices to prevent price fluctuations.
“Therefore, the buying price tends to decrease rapidly, while the selling price remains higher. Of course, the gold buyer has to bear this difference. Therefore, before buying, people should regularly monitor the world and domestic gold markets; observe the difference in world and domestic gold prices,” Mr. Huy analyzed.
Investors should be cautious buying and selling.
Dr. Nguyen Tri Hieu said that, in recent times, gold has brought the highest profits among investment channels, up to this point.
The difference between buying and selling gold prices is too high, investors have to bear the risk. (Photo: Tien Phong Newspaper).
“Investing in gold has been a profitable channel in recent times, but it also carries great risks for the gold market. Therefore, investing in gold in a short period of time to buy and sell for profit requires extreme caution.
If you buy gold, you should buy it for long-term investment, but if you invest short-term or for surfing, you should not. Especially at this time, investors should not borrow money to invest in gold because it is both risky and creates a huge debt burden," said Dr. Nguyen Tri Hieu.
Expert Nguyen Quang Huy said that, with the domestic gold price being too far apart from the world price, the Government is studying the possibility of allowing the establishment of a gold exchange to increase transparency, competition and bring the Vietnamese gold price closer to the world price.
“This will be a major turning point to help regulate the market effectively, reduce speculation and protect genuine investors,” Mr. Huy commented.
Regarding investment strategy, this expert said, gold is only a small part, investing in gold is not a way to get rich quickly, but a risk hedging tool.
“The gold price is reflecting the unstable global sentiment, but it is not the only place where you should place your financial expectations. In a fast-changing world, the winner is not the one who holds the most assets, but the one who understands the market and knows what he is doing to create the most good values for society. Therefore, investors should not ‘go all in’ on gold when the price has peaked, especially with SJC gold, a gold product with a very large price difference,” said expert Nguyen Quang Huy.
Source: https://vtcnews.vn/nha-dau-tu-lo-2-3-trieu-dong-moi-luong-vang-khi-giao-dich-mua-ban-ar956404.html
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