Domestic gold prices continue to witness a high buying and selling gap, posing many risks for investors.
Risk of loss
At the time of the survey at 6:00 a.m. on November 24, 2024, the difference between buying and selling domestic gold was anchored at a high level, especially SJC gold bars.
Specifically, the price of SJC gold bars is listed by DOJI Group at 85-87 million VND/tael (buy - sell). The difference between the buying and selling price of SJC gold at DOJI Group is 2 million VND/tael.
Saigon Jewelry Company (SJC) listed the price of SJC gold at 85-87 million VND/tael (buy - sell). The difference between buying and selling gold prices is also at 2 million VND/tael.
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| The difference between gold buying and selling prices is currently at a high level. Illustrative photo |
At the same time, the price of 9999 Hung Thinh Vuong round gold ring at DOJI was listed at 85.6-86.6 million VND/tael (buy - sell); the difference between buying and selling was 1 million VND/tael.
The listed price of Phu Quy 9999 round gold ring is at 85.6-86.8 million VND/tael (buy - sell); the difference between buying and selling is 1.2 million VND/tael.
Bao Tin Minh Chau and Bao Tin Manh Hai are listing the price of gold rings at 85.63-86.58 million VND/tael (buy - sell), the difference between buying and selling is 950,000 VND/tael.
Thus, when buying SJC gold bars at DOJI this morning, November 24, the gold price must increase by 2 million VND/tael for investors to break even, leading to risks of loss for investors. Specifically, with a difference of 2 million VND/tael of SJC gold bars at DOJI, the gold price must increase by at least 2 million VND/tael for investors to break even when selling.
Investors should "put eggs in many baskets"
Talking to Cong Thuong Newspaper about this issue, Associate Professor, Dr. Dinh Trong Thinh - an economic expert said that the difference between the buying and selling prices of domestic gold being too high is a common occurrence and is a backup plan to avoid gold traders being greatly affected by price fluctuations.
“ Currently, the price of gold increases very quickly, and decreases just as quickly. Therefore, gold shops and companies can only increase the selling price and reduce the buying price to reduce risks, so the gap between the buying and selling prices is sometimes 2-3 million, sometimes up to 5 million. This is also the way gold traders pass the risk onto buyers, ” the expert commented.
Agreeing with the above viewpoint, Associate Professor Dr. Nguyen Huu Huan, Senior Lecturer, Ho Chi Minh City University of Economics, said that the nature of business activities is for profit, so it has created a difference in buying and selling. " When the gold price fluctuates strongly, the difference in buying and selling will be large, except for the case of buying at a high price but having to sell at a low price when the gold price drops and will incur a loss ."
However, according to Mr. Huan, that is the market principle so we cannot blame gold traders when the difference between buying and selling gold is as high as it is now.
To solve the gap between buying and selling gold, according to Mr. Huan: “ Vietnam can establish gold trading markets and gold exchanges managed by the State Bank. There, buyers and sellers will trade with each other like on the stock exchange. This will shorten the gap between gold, there will be no gap between buying and selling anymore, there will only be transaction fees .”
As for expert Dinh Trong Thinh, he believes that the situation of constantly fluctuating gold prices is also an opportunity for buying and selling. However, short-term gold investment models or speculative buying and storing often carry many risks. " In particular, you should not borrow gold to invest because it is too risky ," the expert commented.
Therefore, he recommends that people should regularly monitor the world and domestic gold markets, observe the difference in world and domestic gold prices, if it is too high, they will take on a lot of risks. According to the expert, people should also allocate their savings into many areas such as depositing savings books, buying stocks, etc. to diversify their investment portfolio.
Source: https://congthuong.vn/chenh-lech-mua-ban-vang-cao-nha-dau-tu-lam-gi-de-tranh-thua-lo-360579.html
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