SJC gold price drops, people are very cautious when buying gold for investment

As of 3:30 p.m. this afternoon, April 29, 2024, the price of SJC gold was listed by Saigon Jewelry Company Limited - SJC at 83 - 85.2 million VND/tael (buy - sell).

During the holiday, the SJC gold price was kept unchanged by this unit in both buying and selling directions. The difference in buying and selling price of SJC gold at Saigon Jewelry Company Limited - SJC is currently at 2.2 million VND/tael.

Giá vàng SJC giảm, người dân hết sức thận trọng khi mua vàng đầu tư

Gold price listed at Saigon Jewelry Company Limited - SJC. Screenshot at 3:30 p.m. on April 29, 2024

At the same time, the price of SJC gold bars at Bao Tin Minh Chau brand was listed at 82.65 million VND/tael for buying and 84.75 million VND/tael for selling. Compared to the early morning of the same day, the price of SJC gold here was adjusted down 600,000 VND/tael for buying and down 350,000 VND/tael for selling.

Gold price listed at Bao Tin Minh Chau. Screenshot at 3:30 p.m. on April 29, 2024

Phu Nhuan Jewelry Joint Stock Company (PNJ) listed the price of SJC gold in the Hanoi market at 83 - 85.2 million VND/tael. The price of gold rings was listed at 73.8 - 75.6 million VND/tael, unchanged from yesterday's closing price.

Phu Quy SJC is listing SJC gold bars at 82.9 - 84.9 million VND/tael, down 300,000 VND/tael in both directions compared to the closing price last week.

At the same time, the world gold price was at 2,338 USD/ounce. The world gold price was about 71 million VND/tael excluding taxes and fees. Currently, the price of SJC gold bars is still more than 14 million VND/tael higher than the world price.

In the context that the gold market is still waiting for specific management policies from the Government as well as the State Bank of Vietnam, experts say that domestic gold prices will be difficult to predict in the near future, because the State Bank is still implementing the gold bar auction, although previously, all auctions were canceled.

According to some experts, if the starting price for gold auctions is as high as it is now, it will push the selling price of gold even higher, making the goal of reducing the difference between domestic and world gold prices difficult to achieve.

The price of SJC gold bars is still at its peak, investors and people are extremely cautious in buying and selling gold at this time. Photo: Investment Newspaper

Expressing his opinion on investing in gold at the present time, the representative of Bao Tin Minh Chau gold brand advised that the price of SJC gold bars is still at its peak, investors and people should be extremely cautious in buying and selling gold at this time. Regularly monitor and update the price of SJC gold bars on official channels to make the most correct investment decisions.

According to Dr. Nguyen Minh Phong - an economic expert, the current gold price has many unpredictable fluctuations, so investors need to be very careful when buying gold for investment. If you invest, you should only spend a part of your idle money, do not "put all your eggs in one basket". In particular, do not withdraw money from the bank to buy gold and do not borrow money to buy gold for investment at this time. Because, when the gold price fluctuates and decreases rapidly, without time to react, investors will face both the risk of loss and the pressure of repaying debt.

From the perspective of a long-time gold investor, Mr. Thanh Hai (Dong Anh, Hanoi) said that at this time, when the gold price is at its peak, investors and people should sell gold because the profit level is extremely attractive; at the same time, he advised that everyone should be cautious because the gold market is still waiting for management instructions from the Government; not to mention, the current gap in domestic gold prices is at a high level, pushing risks to investors.

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