Gold price hits record high, investors sell gold to "take profit"

SJC gold price skyrockets, setting new peak

At 12:00 on March 2, 2024, the domestic SJC gold price increased strongly, setting a new peak. Specifically, Saigon Jewelry Company Limited - SJC listed the afternoon SJC gold price at 78.5 million VND/tael for buying and 81 million VND/tael for selling.

Compared to the early morning of the same day, the price of SJC gold at this unit increased by 700,000 VND for buying and 1,180,000 VND for selling. This increase has widened the difference between buying and selling gold at this unit to 2.5 million VND/tael, causing buyers to face the risk of loss when investing in the short term.

Giá vàng tăng kỷ lục, nhà đầu tư đi bán vàng

Gold price listed at Saigon Jewelry Company Limited. Website screenshot at 12:00 on March 2, 2024

Similarly, at Bao Tin Minh Chau, at 12:00 on March 2, 2024, the price of SJC gold was also adjusted to increase sharply. Specifically, this unit is listing the price of SJC gold at 78.6 million VND/tael for buying and 80.9 million VND/tael for selling. Compared to the dawn of the same day, the price of SJC gold here was adjusted to increase by 500,000 VND for buying and 1,150,000 VND for selling.

Gold price listed at Bao Tin Minh Chau. Website screenshot at 12:00 on March 2, 2024

This afternoon, after getting information about the gold market, Ms. Uyen Huong (Hoang Mai, Hanoi) said that the price of SJC gold is at an all-time high, so I brought gold to sell. On God of Fortune Day 2024, I bought some gold rings and gold bars for luck as well as to store. However, by this afternoon, the price of gold bars had reached 81 million VND/tael for sale and 78.5 million VND/tael for purchase. Since God of Fortune Day until now, I have made a profit.

" At noon on God of Wealth Day 2024, February 19, I bought SJC gold at 77.5 million VND/tael. As of 12 noon today, I made a profit of 1 million VND/tael and 100,000 VND per tael. Similarly, with gold rings, I bought gold rings at 64.7 million VND/tael, and today I sold them at 65.3 million VND/tael, so the buyer made a profit of 600,000 VND/tael" - Ms. Huong shared in the joy of making a profit when buying gold to store.

Meanwhile, Mr. Ngoc Long (Tay Ho) did not choose to "take profit" at this time. According to Mr. Long, on the occasion of Tet 2024, his family bought gold for investment as well as for luck, but according to experts' forecasts, the gold market this year will still fluctuate, domestic gold prices will also be affected and increase if there is no intervention from authorities. If you sell gold at this time, you will not know where to invest the money, when bank interest rates are low.

Giá vàng SJC trong nước lập đỉnh, người mua vàng đã có lãi

Gold price increased to a record high of 81 million VND/tael, many gold sellers "took profit". Illustrative photo

According to experts, the domestic SJC gold price has been increasing continuously in recent days due to the impact of the world gold market. The world gold price today increased sharply and reached the highest level in 2 months because the US dollar reversed and fell below the 104 mark when recent data showed a gloomy economy, reinforcing investors' expectations that the US Federal Reserve (Fed) will loosen monetary policy in June.

Although domestic prices have continuously increased and reached new peaks, according to experts, gold buyers need to be cautious of risks because the difference between domestic and world gold prices is high, about 19 million VND, and the difference between buying and selling prices is also high, which can be disadvantageous for gold investors when the market fluctuates.

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