Gold Price Hits Record High
On the evening of September 5th, the international gold price soared to an all-time high of $3,586.90 per ounce. Domestically, gold bars were advertised for sale at an astonishing 155 million VND per tael on forums and social media platforms with hundreds of thousands of members.
Meanwhile, gold trading companies closed the day with buying and selling prices of 132.9 million VND and 134.4 million VND per tael, respectively.
SJC gold prices fluctuate due to posts by anonymous members on online communities and groups.
Posts advertising SJC gold at extremely high prices have surfaced on social media.
Experts Warn About Gold Investment
Domestic gold prices, especially SJC gold bars, are witnessing unprecedented fluctuations, continuously breaking records and surpassing international gold prices.
The gap has widened to over 20 million VND per tael, causing concern among gold holders and potential investors. Many experts have issued warnings against purchasing SJC gold at this time. Buying gold when prices are at their peak carries the risk of “buying high and selling low.”
Previously, numerous financial experts had advised investors not to follow the herd mentality. One should not rush to invest just because others are doing so. Investment decisions should be based on personal financial plans and market knowledge. Additionally, experts suggest diversifying investments. Instead of investing a large sum all at once, individuals can opt for periodic purchases or divide their investment to average out the price, thereby reducing risks associated with market fluctuations.
SJC gold bars are experiencing a significant price gap compared to international gold prices.
Moreover, the difference between buying and selling prices of SJC gold bars is a crucial factor for investors to monitor, as it indicates transaction risks and costs. This gap is not fixed but varies depending on the policies of individual businesses and market conditions.
In the past, when the market was stable, the buying and selling price difference for SJC gold bars was typically around 1 million VND per tael, which was considered acceptable.
Currently, with record-high gold prices, this gap has widened to 1.5 – 2.5 million VND per tael, even reaching 4.5 million VND per tael at some points. With such a significant difference, the risk for investors engaging in short-term trading is substantial. You would have to wait for the price to increase by an amount equivalent to this gap just to break even, let alone make a profit.
Notably, the difference between buying and selling prices of plain gold rings (9999 gold) is usually lower than that of SJC gold bars, typically around 2 – 3 million VND per tael even during periods of strong price increases. This difference is another reason why experts advise individuals to consider investing in plain gold rings instead of SJC gold bars, especially when domestic gold prices deviate significantly from international prices.
Furthermore, experts consistently recommend investing in gold for long-term accumulation (over 1 year) rather than short-term trading. With large price gaps, potential profits can be eroded, and losses may occur.
In summary, with SJC gold prices surpassing 134 million VND per tael and a gap of over 20 million VND compared to international prices, individuals are advised to exercise extreme caution and base their decisions on their financial goals.
Additionally, experts warn investors to be vigilant about online gold transactions to prevent fraud and manipulation.
The Art of Steering Through Interest Rates, Exchange Rates, and Gold Prices
Inflation has remained persistently above 3% for several months, with high credit growth, volatile exchange rates, and fluctuating gold prices exerting significant pressure. This dynamic situation calls for agile and proactive governance to effectively tackle these challenges.
The Golden Touch: Unlocking the Secrets to Crafting Captivating Copy
As the doors swung open this morning, a prominent gold shop in Hanoi found itself in an unexpected situation – completely sold out of gold rings and bars.
Amidst soaring gold prices, several prominent gold dealers found themselves in a predicament as they ran out of gold bars and rings.
The New Digital Gold Rush: Online Market Prices ‘Surpass’ Listed Enterprises
This morning (August 30th), the SJC gold bar price surged past 130 million VND per tael. Meanwhile, the price of this commodity on the online market soared to over 133 million VND per tael.
The Golden Monopoly is Over: When Will Prices Drop?
According to experts, the elimination of the gold bullion monopoly will not lead to an immediate decrease in gold prices in the short term. There will be a certain lag before prices adjust.
The Golden Rush: Soaring Prices Reach New Heights
The soaring price of gold has reached unprecedented heights, with some small gold shops in Ho Chi Minh City selling SJC gold bars at a staggering 133.5 million VND per tael – a record high.
