Gold prices are at their peak, many people still buy gold for investment and storage.

At 3:30 p.m. on April 28, 2024, the domestic SJC gold price was relatively stable compared to the early morning of the same day. Saigon Jewelry Company Limited - SJC listed the afternoon SJC gold price at 83 million VND/tael for buying and 85.2 million VND/tael for selling.

The difference in the buying and selling price of SJC gold bars at this unit is 2.2 million VND/tael, causing investors to face the risk of losing money when buying in the short term.

Giá vàng đang trên vùng đỉnh, nhiều người vẫn mua vàng để đầu tư, tích trữ

Gold price listed at Saigon Jewelry Company Limited - SJC on the afternoon of April 28, 2024. Screenshot at 3:30 p.m.

Similarly, the price of SJC gold bars at Bao Tin Minh Chau was also kept stable on the second day of the April 30 and May 1 holidays. This afternoon, this brand listed the price of SJC gold at VND83.25 million/tael for buying and VND85.1 million/tael for selling.

Gold price listed at Bao Tin Minh Chau on the afternoon of April 28, 2024. Screenshot at 3:30 p.m.

The current price of SJC gold bars is close to the highest price ever, which was VND85.5 million/tael on April 15. The rapid increase in price has made the price of SJC gold bars more expensive than international prices by more than VND13 million/tael instead of only VND11-12 million/tael before.

While the price of SJC gold bars increased sharply, last week, the gold ring market also had some "unforgettable" days.

The price of Bao Tin Minh Chau brand gold rings this afternoon was traded between 74.58 - 76.18 million VND/tael. The price of gold rings has decreased by nearly 3 million VND/tael from the historical peak of more than 78 million VND/tael, creating a wave of "bottom fishing" in many places.

An employee at Bao Tin Minh Chau store on Tran Nhan Tong Street said that in the past few days, the store has stopped selling gold rings. Customers can only come to sell but cannot buy plain round gold rings.

Last week, according to the reporter of Cong Thuong Newspaper at gold shops, there were more customers coming to buy gold than selling gold. Although the price of gold is at its peak, many investors and people still choose gold as an investment channel. Among the best-selling gold items last week, gold rings were the item chosen by many people, so there were times when many gold shops were "out of stock" of gold rings.

Ms. Song Ha (Hoan Kiem, Hanoi ) said that last week, although the price of gold was at its peak, she still bought gold rings for investment because her savings were due to mature.

Although gold prices are at their peak, many people still buy gold rings for investment. Illustrative photo

Sharing the reason why she chose gold rings for investment instead of gold bars, Ms. Song Ha said that the current price of gold rings is softer than the price of SJC gold. Not to mention, the domestic price of gold rings is closer to the world gold price, because if, if the market fluctuates, the price of gold rings will not fluctuate as much as the price of gold bars. "This time, the number of customers coming to buy gold is larger than the number of customers coming to sell. The day I went to buy, the rings were out of stock, I and many others had to deposit money in advance, then wait for the goods to arrive and receive them later" - Ms. Song Ha shared and said that she will research and wait for the gold market to stabilize and cool down further to spend money to buy more for investment.

Sharing the same view, Mr. Duy Kien (Bac Tu Liem, Hanoi) also said that among the current investment channels such as: gold, real estate, stocks or savings... for investment, he would choose gold. Because gold is considered a safe "shelter" in the investment portfolio, especially during periods of economic fluctuations, political instability or risky financial markets. Unlike stocks that can fluctuate strongly every day, the value of gold is relatively more stable, helping to protect assets. " Although the profit is not as high as stocks, gold comes with lower risks, suitable for investors who prioritize safety like me " - Mr. Duy Kien analyzed.

Making forecasts for gold prices next week, many experts predict that gold prices will have many upward momentums. In the world market, forecasting gold prices next week, 10 Wall Street experts have similar forecasts to last week, that is, 7 experts (accounting for 70%) predict gold prices will increase next week; 2 experts (accounting for 20%) believe that gold prices will continue to move sideways and only 1 expert (accounting for 10%) predicts that gold prices will decrease. World gold prices still have more or less impact on the domestic gold market, so next week, domestic gold prices are forecasted to fluctuate upward.

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