Gold price hits record high, buyers and sellers still busy

Fear of currency devaluation, "hugging" gold to accumulate

Recorded SJC gold prices on April 12 at some large gold and silver stores in Ngo Quyen ward showed that the selling price of gold fluctuated around 105 million VND/tael, the buying price was 103.5 million VND/tael. The difference was 1.5 million VND/tael.

At this time, although the price of gold is considered to be "at its peak", there are still many customers coming to trade, some buy to accumulate, others sell to make a profit. There are even cases where buyers meet sellers of gold and they "shake hands" to trade without going through the shop owner to enjoy the profit.

This poses many risks to buyers, because the risk of buying fake gold is very high if the store owner does not check the quality. However, partly due to the high price of gold, buyers want to profit from the difference, so they accept the risk of buying directly from the seller.

Gold is considered by many people as a safe asset that does not lose value in the face of economic inflation.

Ms. Nguyen Thi Loan, Lien Bao ward - a customer who went to buy gold said: "Three days ago, I bought 5 taels of SJC gold, today I saved up more money to buy 1 tael to save. Although many people advised me not to buy gold at this time because the price is high, I still bought it to save. Personally, I think that savings deposits have low interest rates, and on the other hand, the currency is increasingly depreciating, so buying gold and land is the safest. The gold price may go down in a few days, but it will definitely increase and I think gold will increase to 110 - 120 million VND/tael".

Customers who have the mindset of "holding" gold to accumulate all believe that gold is like land, sometimes it goes up, sometimes it goes down. But looking at the long term, gold and land almost only increase and never decrease. Especially in the context of the world economy is inflation, the value of money is increasingly depreciating, accumulating gold is still the optimal solution.

Ms. Pham Thi Tuyet, Tich Son ward, Vinh Yen city said: “Unless I need cash for big things like building a house or buying land, I have to sell gold. When I have money, I buy gold to save. I have been saving gold for decades, from when the price of gold was only a few hundred thousand VND/tael, until now it is more than 10 million VND/tael and I have won big. Every month, I set aside a sum of money to buy gold. "A little bit makes a storm", last year, because I needed money to build a house, I sold more than 80 taels of gold (equivalent to more than 8 taels) for nearly 700 million VND. On the other hand, when I need money urgently, gold is also very easy to sell, after only 5-10 minutes of transaction, the money is in hand to solve the problem. Therefore, even though the price of gold is high, I still decided to buy it".

Or Mr. Nguyen Van Trung, Dong Van commune (Yen Lac) said: "2 years ago, I had 100 million VND in short-term online savings (3 months), with an interest rate of about 2 million VND/year. On God of Wealth Day in 2024, I bought 1 tael of gold for more than 65 million VND, at the beginning of this year it increased to more than 85 million VND, so I made a profit of 20 million VND/tael, not to mention that up to now it is 105 million VND/tael".

According to Mr. Trung's analysis, although saving money in the bank is safe and has little risk, the interest rate is too low, while the money is depreciating. On the other hand, monitoring the price of gold over the past years shows that it has only increased, not decreased.

For example, in the coming time, the gold price may drop to 90 or even 80 million VND/tael, but he still believes that the gold price will rise again. In other words, if you want to "hold" gold and win for sure, you should not look at the short term, you have to look at the long term to make a profit. Accumulation is different from speculation, you cannot "take short-term profits and bite long-term profits", Mr. Trung emphasized.

According to the owners of gold and silver businesses in Vinh Yen city, due to few investors, the number of customers buying hundreds of gold bars at a time is very small, most of them buy just a few bars to accumulate.

Sell ​​gold to "eat" the difference

In addition to those who buy, there are also many people who sell gold to make a profit, because according to them, this is the ideal time when the gold price is "at its peak". People sell gold to find new investment directions such as buying land, apartments or building houses.

The purchasing and selling power are relatively equal, so there is no situation of unsold or scarce gold. Due to the high price of gold, the transaction amount of each customer is relatively large, from several tens of millions of VND to several hundreds of millions of VND, showing that the amount of money going in/out at gold and silver trading establishments is very large, estimated at several billion VND/day.

People who bought gold on God of Fortune Day in 2025 won big with a profit of nearly 20 million VND/tael.

According to experts, the domestic gold price increased due to the influence of the world gold price continuing to increase sharply. It even broke the record high because investors sought gold as a safe haven before the announcement of US President Donald Trump about imposing tariffs on many countries.

The recent sharp increase in gold prices comes from two main factors: strong buying demand from central banks and the return of Western investors.

In addition, political instability in the Middle East and Europe, along with money flowing into exchange-traded funds with gold as collateral, also contributed to pushing gold prices up.

According to forecasts from world experts, the future price of gold (until June 2025) is in a strong upward trend with the advantage belonging to the buyers and could reach the mark of 3,400 USD/ounce by the end of summer this year.

Article and photos: Ha Tran

Source: http://baovinhphuc.com.vn/Multimedia/Images/Id/126548/Golden-price-increases-of-the-moment-buyers-and-sellers-of-the-year-to-be