According to Lao Dong Newspaper on November 30, at Bao Tin Minh Chau store and PNJ store on Cau Giay street (Hanoi), most customers intend to sell gold to make a profit because the gold price has increased sharply.
Ms. Nguyen Thi Thu (40 years old, Cau Giay, Hanoi) said: "I have invested in gold for more than 20 years now. At that time, I bought gold for only about 40 million VND/tael, so now I sell it for almost double the profit. I only sell a part to get capital, waiting for market fluctuations to decide when to buy."
Similar to Ms. Thu, Mr. Nguyen Ngoc Long (35 years old, Thanh Xuan, Hanoi) also said that he had just quickly sold a tael of gold that he and his wife had saved. "Although the stock market brings profits, I don't have much experience. Currently, the price of gold has increased sharply, so I decided to sell it to make a profit and then open a business store," said Mr. Long.
In another development, Ms. Tran Thi Nga (Phu Ly, Ha Nam) said that currently, interest rates have dropped sharply, so she does not want to save but wants to invest. However, in general, the economy is difficult, so investing anywhere has potential risks.
"I am wondering whether I should invest in gold at this time because many people say that gold is likely to increase even more. If I buy for a short-term trade and then sell, I might make a profit," said Ms. Nga.
Speaking to Lao Dong Newspaper reporter, Mr. Tran Xuan Dung - Head of Phu Quy Gold Bar Trading Department - said that the increase in gold price in recent days has caused the transaction volume of Phu Quy Gold system to increase by 20% compared to 1 month ago.
SJC gold has increased from about 71 million VND/tael to more than 73 million VND/tael, so many people come to sell to make a profit. 9999 gold rings are mainly bought by people, especially the elderly.
"In addition, the interest rate on savings is currently decreasing, so when the withdrawal period comes, people often choose to buy gold to store. However, at the moment, the price of gold is relatively high, people do not dare to make large transactions but only buy small amounts. From now until the end of the year, purchasing power will not decrease because many people want to buy gold to store and give as gifts," said Mr. Dung.
Giving advice to investors, Mr. Nguyen Tri Hieu - economic expert - said that currently the gold market is experiencing many strong fluctuations. This is also an opportunity for gold investors to make a profit. However, they should not borrow money or use financial leverage to speculate or surf gold. This will cause big financial problems for investors if the gold price suddenly drops.
"Investors need to be wise, divide their finances evenly to buy gold, and not "put all their eggs in one basket" - Mr. Hieu recommended.
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