Gold price "skyrocketing", buying difference

Following the increase in world gold prices, domestic gold prices and those in Hai Duong market continuously "skyrocketed" on April 16.

At 3:00 p.m. on April 16, major gold trading brands in Hai Duong such as Bao Tin Manh Hai, Doji, and PNJ listed gold bar trading prices at around VND111.7 - 112 million/tael for buying and VND113.9 - 114.5 million/tael for selling. The continuous "galloping" increase since the morning of the same day has caused the current trading price to increase by VND6.5 million/tael for buying and VND6 million/tael for selling compared to the morning of the same day.

In just a few hours on April 16, if you buy SJC gold bars early in the morning and sell them the same afternoon, you can make a profit of up to 4 million VND/tael. This is the highest and fastest difference in at least the past 2 years for SJC gold transactions.

At the same time, with 9999 round gold rings, the above brands traded around 110.3 - 109.8 million VND/tael for buying, 113.1 - 113.8 million VND/tael for selling. The gold brands Hai Hong and HJL traded 9999 round gold rings around 107 million VND/tael for buying, 109 million VND/tael for selling.

These selling prices increased by an average of 3.5 million VND/tael in both buying and selling directions compared to the same morning.

At Hai Hong gold shop, from early morning to about 3 pm on April 16, there were more than 100 transactions, mainly people coming to buy gold rings (illustrative photo)

Domestic gold prices increased sharply due to the influence of world gold prices. At 3:17 p.m. on April 16, the world gold price was at 3,311.9 USD/ounce (equivalent to 103.86 million VND/tael according to Vietcombank exchange rate), an increase of 82.8 USD/ounce compared to the same time on April 15.

According to many experts, the transaction price of gold rings is often close to the market price. However, the quality of gold rings is not uniform, depending on the reputation of each business establishment. Therefore, this type of gold often only retains its value when bought and sold at the right business brand. For example, people who buy gold rings at Hai Hong and sell at Bao Tin Manh Hai will have to transact at the listed price of "outside goods" of Bao Tin Manh Hai.

World gold price traded on Kitco floor at 3:17 p.m. on April 16 (screenshot)

SJC gold bars are a national gold bar brand, whose production is managed by the State Bank. Therefore, their liquidity is higher than that of gold rings. Therefore, gold bars are included in the price stabilization program of the State Bank.

If people have a need for safe investment, they can choose SJC gold bars.

However, experts also said that in the current context, the price of gold bars and gold rings is not too different, and is greatly affected by the world gold price. Therefore, gold can be a safe "haven", but it is still a risky investment channel.

HA KIEN

Source: https://baohaiduong.vn/gia-vang-phi-ma-chenh-lech-mua-ban-lap-dinh-it-nhat-2-nam-qua-409549.html