A survey conducted by Thanh Nien newspaper in the Hanoi gold market shows that, during the trading session at 3 PM on December 25th, at the Bao Tin Minh Chau Co., Ltd. store located at 139 Cau Giay Street (Cau Giay District, Hanoi), the listed price for SJC gold was 77 million VND/ounce for buying and 78 million VND/ounce for selling.
Gold bar prices continued to reach new highs, surpassing 78 million VND/ounce during the afternoon trading session on December 25th.
Gold prices increased in both buying and selling directions compared to the closing price in the early afternoon (at 1:33 PM), by 300,000 VND/ounce and 400,000 VND/ounce respectively. The price of this precious metal continued to rise by 200,000 VND/ounce in both buying and selling directions at 3:30 PM.
SJC gold prices continue to skyrocket, setting a new record exceeding 78 million VND per ounce.
Gold prices at Saigon Jewelry Company (SJC) are listed at VND 77.20 million/ounce for buying and VND 78.20 million/ounce for selling, an increase of VND 600,000/ounce in both buying and selling prices compared to the closing price at 1:24 PM. The difference between buying and selling is VND 1 million/ounce.
At DOJI Gold and Gemstone Group, the price of SJC gold in Hanoi was also adjusted upwards by 400,000 VND/ounce and 500,000 VND/ounce respectively compared to the closing price in the early afternoon (at 1:43 PM), trading at 76.90 million VND/ounce for buying and 78.10 million VND/ounce for selling.
Customers sat in long lines, waiting to complete transactions while monitoring fluctuations in gold prices.
Selling 7 taels of gold resulted in a profit of nearly 100 million VND.
According to observations in the early afternoon of December 25th, the number of customers at major gold shops on Cau Giay Street and Tran Nhan Tong Street (Hanoi), known as the "gold street," increased sharply. In fact, at many shops, customers formed long queues, mostly selling gold to lock in profits as gold prices continued to rise.
After checking the gold price in recent days, Ms. D.T.T. (residing in Phu Dien Ward, Bac Tu Liem District, Hanoi) decided to sell 7 taels of SJC gold. Having bought the gold at a price of 60-66 million VND/tael, Ms. T. has now made a significant profit of 11-17 million VND/tael.
Quick update at 8 PM on December 25th: SJC gold bar prices surge, reaching a record high of over 78 million VND/ounce.
"The price of gold exceeded 78 million VND/ounce, so I decided to sell it immediately. I decided to hold onto the gold for over a year, and now I've made a profit of nearly 100 million VND/7 ounces," Ms. T. happily shared.
Also selling to lock in profits as gold prices skyrocketed, Ms. Bich (residing in Cau Giay District, Hanoi) said that today she plans to sell 1 tael of SJC gold.
She bought gold at the end of June at a price of 66.98 million VND/ounce. As of 3 PM today, selling it would yield a profit of over 10 million VND/ounce, as the SJC gold price was trading at 77 million VND/ounce for buying and 78 million VND/ounce for selling. "I constantly monitor the gold price, buying and selling while also checking the market," Ms. Bich said.
Domestic gold prices remained high despite the international gold market being closed for the Christmas holiday.
The rapid rise in gold prices, coupled with plummeting savings interest rates, has led many to consider shifting their funds from banks to the precious metal.
Ms. NTN (residing on Tran Binh Street, Cau Giay District, Hanoi) stated that she has a savings account of 300 million VND that has just matured. If she were to deposit it again today for a 12-month term at an interest rate of approximately 5% per year, she estimates she would receive 15 million VND in interest. Meanwhile, her recent investment in gold has yielded quite good returns.
"When the price of gold rings was 58 million VND/ounce in September, I spent over 170 million VND to buy 3 ounces, and now I've made a profit of 12 million VND. Many forecasts predict that the price of gold will increase next year, so I've decided to convert my savings into gold," Ms. N shared.
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