That is what Ms. Nguyen Thanh Xuan in Hoang Mai (Hanoi) shared with PV. VietNamNet after selling all the gold she bought on God of Wealth Day from 2019-2023. She remembers, 2019 was the first year she bought gold on God of Wealth Day. At that time, she collected all the lucky money from her children and her husband's Tet bonus to buy 2 taels of SJC gold bars. "After buying, many people said I would lose because on God of Wealth Day, the price of gold is often pushed up to a high level and then drops sharply," she said. However, she bought it both for luck and to save money, so she did not care too much about the price difference. In the following years, on God of Wealth Day, she continued to buy gold. Depending on her family's financial capacity, she bought the appropriate amount of gold. Some years, she collected money to buy only 1 tael, and other years, she bought 2-3 taels. Like last year, SJC gold bars cost 67.2 million VND so she could only buy 1 tael.
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Many people have the habit of buying gold on God of Wealth day and keeping this gold for many years (Photo: Tam An)
"Holding that amount of gold for several years, now I'm selling it all," said Ms. Xuan. Accordingly, the 2 taels of gold she bought in 2019 earned a profit of more than 39 million VND/tael; the gold bought in 2020 earned a profit of nearly 32 million VND/tael... Even the amount of gold bars bought last year has now been sold for nearly 10 million VND/tael. Roughly calculating, after 5 years of "holding" money to buy gold on God of Fortune's day, now selling it has made a profit of nearly 230 million VND, Ms. Xuan boasted. For many Vietnamese, gold is not simply a means of investment but a safe haven. People want to keep gold to guard against unexpected events and risks. According to estimates, there are about 400 tons of gold still in people's safes. Not only to accumulate to prevent risks, in the past 10 years, on God of Fortune's day, people often rush to buy gold to pray for a prosperous new year, good business and wealth. Mr. To Hoa Binh in Dong Da (Hanoi) does not do any business, but for the past 15 years, he has always bought gold on God of Wealth Day to bring luck to his family. Sharing with PV. VietNamNet , Mr. Binh said: "Every year, I buy 2 taels of gold so that my wife and I each get 1 tael. In the first 1-2 years, after buying gold on God of Wealth Day, I needed money so I had to sell it right away, but for many years now, I just bought it and put it away." If he sells this amount of gold now, Mr. Binh will earn a very high profit. In our country, every time God of Wealth Day comes, hundreds of thousands of people flock to the store to buy gold. Some people only buy 0.5 taels, others buy several taels, even carrying sacks of money to buy gold despite the strong price fluctuations after God of Wealth Day.
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Gold prices on God of Wealth's day have increased sharply over the years (Graphics: Tam An)
So, what profit will those who buy gold on God of Fortune Day, if they keep it until now, earn? In fact, from 2018 to now, the gold price has entered a period of intense fluctuations following a vertical increase. From the mark of 36.44 million VND/tael for selling in the first trading session of 2018, it jumped to a historical peak of 80.3 million VND/tael on December 27, 2023, then dropped to 74.02 million VND in the last trading session of 2023. The SJC gold price closed on February 16, cooling down to 78.6 million VND/tael for selling after increasing to a peak of 79 million VND/tael in the early morning due to strong purchasing power during the God of Fortune Festival. Accordingly, in the period from 2018 to 2023, the gold price on God of Fortune Day (the 10th day of the first lunar month) recorded an increase every year. Specifically, on the God of Wealth Day 2018 (February 25, 2018), Saigon Jewelry Company (SJC) in Hanoi listed the price of gold bars at VND37.04 million/tael for sale. On the God of Wealth Day 2019 (February 14, 2019), the price of SJC gold bars was recorded at VND37.07 million/tael. This price remained almost unchanged compared to the God of Wealth Day 2018.
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Profit level when buying gold on God of Fortune day and selling at the end of the year (graphic: Tam An)
On God of Wealth Day 2020 (February 3, 2020), SJC gold bars were priced at VND44.42 million/tael (sold). Compared to God of Wealth Day 2019, the price of gold bars increased by VND7.35 million/tael. By 2021, on God of Wealth Day (February 21, 2021), the price of SJC gold was VND56.37 million/tael. On God of Wealth Day 2022 (February 10, 2022), this precious metal was listed at VND62.67 million/tael. On God of Wealth Day last year (January 31, 2023), the price of SJC gold bars was VND67.72 million/tael (sold). Many people buy God of Wealth gold for luck, so they will keep this gold until the end of the year to sell. Accordingly, those who bought gold on God of Wealth Day in 2018 and sold it at the end of the year will lose 0.71 million VND per tael. However, buying gold on God of Wealth Day in 2019 and selling it at the end of the year will make a profit of 5.13 million VND/tael; in 2020, it will make a profit of 11.13 million VND/tael; from 2021 to 2023, the profits will be 4.38 million VND/tael, 3.23 million VND/tael and 3.28 million VND/tael, respectively. If you keep gold bought on God of Wealth Day from 2018 to now (February 16, 2024), you will make a profit of about 9 million VND to 39.56 million VND per tael, depending on the year of purchase.
Price around peak 79 million, people crowded to buy gold before God of Wealth day

Price around peak 79 million, people crowded to buy gold before God of Wealth day

Gold prices today fluctuated, hovering around 79 million VND/tael. At gold shops, people have been jostling to buy gold for the past two days before the God of Wealth's day.
Sky-high prices, on God of Wealth day should you buy gold rings or SJC gold bars?

Sky-high prices, on God of Wealth day should you buy gold rings or SJC gold bars?

Many people have the habit of buying gold for luck on the God of Wealth day. Gold prices are skyrocketing, so should you buy gold rings or SJC gold bars to ensure luck and minimize risks when prices fluctuate?
'Holding' 400 tons of gold in a safe, which day is the God of Wealth Day 2024 to buy gold for luck?

'Holding' 400 tons of gold in a safe, which day is the God of Wealth Day 2024 to buy gold for luck?

Even though they have a total of about 400 tons of gold stored in their safes, many people still like to buy gold for luck on God of Wealth Day. So, which day is God of Wealth Day 2024 to buy gold for luck and fortune?