Specifically, this morning (2/19), Doji Group listed the price of gold rings at 62.2 – 65.65 million VND/tael (buy – sell). Thus, the price of gold rings has set a new record, much higher than the previous record of 64.9 million VND/tael set on January 15, 2024.
Meanwhile, the price of SJC gold rings was listed at 63.4 – 64.7 million VND/tael.
The record price of gold rings is because on the day of the God of Wealth, the demand for lucky gold rings of the people is increasing.
Every year, on the occasion of the God of Wealth, the price of gold in the domestic market always fluctuates sharply. Accordingly, the price of gold is often pushed up very high. Afterwards, the price of this precious metal drops sharply in the next few trading sessions.
Record gold price on the God of Wealth day. (Image: Minh Đức).
According to expert Dinh Trong Thinh, on the God of Wealth day, the price of gold usually increases sharply, so buyers should choose gold rings to buy for luck.
Explaining this, Thinh analyzed that currently the price of gold rings is much lower than SJC gold, usually lower by 13 – 14 million VND/tael. In addition, the fluctuation of the price of gold rings in Vietnam is also closely related to the price of gold in the world.
” Therefore, choosing to buy gold rings is not only for luck, but also to minimize the risks when the price fluctuates sharply. Therefore, people buying gold on the God of Wealth day will usually keep this gold until the end of the year instead of selling it right away “, Thinh said.
In addition, buying gold rings is more beneficial than gold pieces because the difference between buying and selling of gold rings is smaller than that of gold pieces.
Sharing the same opinion, Nguyen The Hung – Vietnam Gold Business Association, said that people tend to invest and hold more gold rings than SJC gold pieces, although currently the price of SJC gold has decreased but compared to the world gold price is still higher by 15 million VND/tael.
Meanwhile, the price of gold rings is only slightly higher than the world gold price by 1-2 million VND/tael and is closely following the upward trend of the world gold price.
However, according to Hung, buying gold near the God of Wealth day is quite risky because the price of gold on this occasion usually increases sharply.
Economic expert Dinh Trong Thinh also predicts that the price of SJC gold pieces could fluctuate to a low level, while the price of gold rings will fluctuate upwards due to the demand for this type of gold in the market increasing in the coming days.
Meanwhile, SJC gold pieces have a high face value, usually not favored like gold rings on the God of Wealth day, so they can decrease sharply along with the trend of the world.
