SJC gold bar and gold ring prices had unexpected developments at the end of April 1

At the end of April 1, the price of SJC gold bars was suddenly adjusted by SJC and PNJ businesses to 99.4 million VND/tael for buying and 102.1 million VND/tael for selling, down 500,000 VND per tael compared to the peak of the day.

Similarly, the price of 99.99 gold rings and jewelry gold of all kinds was also reduced by SJC Company to 99.2 million VND/tael for buying, 101.6 million VND/tael for selling - a decrease of 400,000 VND compared to the morning.

SJC gold bar price increased to "ceiling", many people still buy and store READ NOW

Gold prices suddenly "turned around" and decreased after many days of shocking increases. Although they have left the all-time peak of 102.6 million VND/tael, domestic gold prices are still at their highest level ever. If calculated from the beginning of the year until now, each tael of SJC gold bars and gold rings has increased by about 17 million VND.

The price of gold bars of the brand Vang Rong Thang Long dropped sharply to 102.4 million VND/tael, losing 1.6 million VND compared to the highest peak of 104 million VND set during the day.

Domestic gold prices cooled down at the end of the day as world prices also left the highest mark. At 7:30 p.m. Vietnam time, the precious metal on the international market was trading at $3,134/ounce, down about $15/ounce from the all-time peak of $3,148/ounce.

Since the beginning of the year, the world gold price has increased by more than 500 USD/ounce (+19%).

Giá vàng miếng SJC, vàng nhẫn có diễn biến bất ngờ vào cuối ngày 1-4- Ảnh 2. — People waiting to buy and sell gold at SJC company

The increase in gold prices has boosted people's demand for buying and holding gold. According to a reporter from Nguoi Lao Dong Newspaper , besides some people who took profits after buying gold at 70, 80, 90 million VND/tael, there are still many people who want to buy gold to hold at 102 million VND/tael today.

However, experts also warn that gold prices are rising rapidly, so buying gold for short-term trading at this time is very risky. Even if you buy it for long-term holding, the rate of return will not be as high as in 2024.

Economist, Dr. Dinh The Hien analyzed that gold often has quite strong price fluctuations during times of world economic crisis.

In 2008, the financial crisis occurred, gold continuously increased to a historical high in 2011 with the price of nearly 1,900 USD/ounce. Compared to the current price, the price of gold increased by about 1,200 USD/ounce (+63%).

"At the same time, if you save money in a bank with an average interest rate of about 7%/year, you will receive about 100% interest over the past 15 years. In the long term, the increase in gold price is not as good as saving, so those who want to buy gold at this time need to consider carefully" - Dr. Hien said.