In this morning's trading session, the domestic SJC gold price increased slightly. At 12:00 on May 27, 2024, Saigon Jewelry Company Limited - SJC listed the afternoon SJC gold price at 87.7 - 89.7 million VND/tael for buying and selling.
Compared to the end of yesterday's trading session, the price of SJC gold at this unit was adjusted up by VND200,000/tael in both buying and selling directions. The difference between buying and selling gold prices is still high, around VND2 million/tael, which puts investors at risk of losing money when investing in the short term.
Bao Tin Minh Chau brand also listed SJC gold price at 87.8 - 89.4 million VND/tael for buying and selling. Compared to the closing time of yesterday afternoon's trading session, the SJC gold price at this unit was adjusted up 100,000 VND/tael for both buying and selling.
Similarly, DOJI brand also slightly increased the price of SJC gold for buying. The price of SJC gold at this unit is currently at 87.7 - 89.3 million VND/tael for buying - selling. Increased by 200,000 VND for buying and kept the selling price stable.
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| SJC gold price increased again, investors and people rushed to sell gold to take profit because of concerns that gold price will decrease after the drastic instructions of the State Bank. Illustrative photo |
In the international market, after several sessions of decline, the world gold price has slightly increased by 6 USD to 2,339 USD/ounce. Currently, the gold market is waiting for further information on the US macro economy and the time when the US Federal Reserve (FED) can start cutting the operating interest rate. Currently, the world gold price converted according to the listed exchange rate is about 71.9 million VND/tael, about 17.7 million VND/tael lower than SJC gold bars.
In the context of the increase in domestic SJC gold prices, many investors are thinking of selling gold to take profits because they are worried that the gold price will reverse and decrease after drastic actions from the Government and the State Bank through organizing gold auctions and inspecting gold trading establishments in the near future.
Ms. Nguyen Thao (Thanh Xuan, Hanoi) said that after the gold supply was released to the market, the gold market was "quiet" last week, with more downward trends than upward trends. This morning, hearing the news of the gold price increase, I quickly took the gold to sell. " Although the gold price only increased slightly, the profit is not much, however, something is better than nothing. I bought SJC gold at Bao Tin Minh Chau from the God of Wealth Day 2024 at a price of 78 million VND/tael, up to now each tael of SJC gold sold has made a profit of nearly 10 million VND/tael" - Ms. Nguyen Thao shared and said that she intended to keep the gold for a while longer, however, she was worried that the domestic gold price would decrease, so she decided to sell it now.
Similarly, Mr. Duy Kien (Cau Giay, Hanoi) is also worried, his family has saved a little gold, if he sells now the profit will be about 10 million VND per tael. All his friends advise him to sell immediately, fearing that the gold price will decrease. He will transfer that profit to other investment areas. " I want to sell now, but I also don't. If I sell now, I will make a lot of profit, but if I hold gold for a longer time, when the gold price decreases, the profit will not be much, or even a loss " - Mr. Duy Kien shared.
Giving advice to investors during this period, some experts recommend that investors and people should consider selling more, because at this time, the management agency is determined to overcome the situation of the price of gold bars being too high compared to the world and plain rings, through organizing gold auctions. Not to mention, the State Bank said that it will continuously organize gold auctions and will organize gold inspections. With the determination of the authorities, the domestic gold price will cool down, however, the decline of SJC gold will have a certain delay because the world gold price has recently increased sharply and remained at a high level.
Giving advice to investors and people who intend to buy gold at this time, some experts recommend that if investors have a long-term investment mentality, they should think about gold rings. Because, first, the gap between domestic gold ring prices and world gold prices is lower than gold bars. Second, the price of gold rings is "softer" than the price of gold bars and the fluctuation range is also lower than gold bars, so investing in gold rings at this time will be less risky than gold bars.
"Investors with long-term gold investment needs should prioritize buying plain gold rings from reputable brands rather than SJC gold bars at this time," experts recommend.
This morning, in the context of the rising gold market, statistics from Bao Tin Minh Chau show that the number of customers coming to buy and sell gold has a ratio of 55% of customers coming to buy and 45% of customers coming to sell. Although the representative of this brand also recommends that investors and people should closely monitor gold market information on official channels to make the right investment decisions.
Source: https://congthuong.vn/gia-vang-tang-tro-lai-nha-dau-tu-voi-va-ban-vang-chot-loi-322560.html
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