Many people prefer to buy gold to store as a form of savings and risk prevention. However, not everyone has tens of millions of dong available to buy a quantity of SJC gold bars.

Meanwhile, gold rings are "torn" into small pieces by businesses and compressed into products ranging from 0.5 taels to 1 tael, more suitable for the idle budget of many families.

Not only that, with plain round rings pressed in blisters, when transacting, just like SJC gold bars, stores will charge a processing fee. Not to mention, the price of gold rings is also quite close to the world gold price, so choosing to buy this type of gold will minimize risks when prices fluctuate strongly.

This is also the reason why, on the God of Wealth's day in recent years, hundreds of thousands of people flock to gold shops to buy for luck.

Notably, many people also have the habit of buying gold on the God of Wealth's day. Depending on their financial ability, some years they only buy 1 tael, some years they buy a few taels, then keep it as an accumulated asset. Or some people buy up to several dozen taels, even up to a hundred taels of plain round gold rings on this day.

Ms. Trinh Thi Ly in Tam Trinh (Hoang Mai, Hanoi) started buying gold on the day of God of Wealth in 2022. At that time, she only bought 3 taels of gold rings in blister packs for 54.2 million VND/tael from her idle money with the intention of "saving" for her children.

Since then, she has been buying gold regularly at this time. In 2023, she bought 5 plain round rings of 2 chi. Last year, she bought 4 chi because the price of gold rings was quite high, and she did not have much money.

"When I bought it, I only thought it was for savings. Who would have thought the price of gold rings would increase so much?" she said. Therefore, just counting the amount of gold bought on God of Wealth Day last year, if I sell it now, I will make a profit of 2.34 million VND/tael. With the gold bars bought in previous years, the profit is much higher.

So, how has the price of gold rings on God of Wealth Day increased over the years?

In fact, from 2018 to now, every year on the God of Wealth Day, the price of gold rings is higher than the previous year (except for 2022). Accordingly, gold rings jumped from 37.2 million VND/tael to 90.1 million VND/tael (sold) in the early morning of February 4. That is, the price of gold rings increased to 52.9 million VND/tael, equivalent to 142.2% compared to 2018.

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On God of Wealth Day, people often jostle each other to buy gold at stores. Photo: Tam An

Specifically, on the God of Wealth Day 2018 (February 25), the price of gold rings of types 1 to 5 taels was listed by Saigon Jewelry Company (SJC) at 37.2 million VND/tael for sale.

By the next God of Wealth day (February 14, 2019), the price of this precious metal only slightly increased to 37.25 million VND/tael. That is, buying gold on God of Wealth day in 2018 and selling it after 1 year will result in a loss of 350,000 VND/tael.

However, on the God of Wealth day in 2020 (February 3), SJC gold rings jumped to 44.45 million VND/tael, a sharp increase of 7.2 million VND/tael after only one year.

In 2021, on the day of God of Wealth (February 21), the price of gold rings continued to increase sharply by 10.45 million VND/tael, to 54.9 million VND/tael for sale. However, the price of this item suddenly decreased by 700,000 VND/tael to 54.2 million VND/tael on the day of God of Wealth 2022 (February 10).

In 2023, on the day of God of Wealth (January 31), the price of plain rings returned to a slight increase, up to 55.5 million VND/tael.

After that, the price of plain round rings increased sharply, reaching 64.7 million VND/tael on the day of God of Wealth 2024 (February 19).

As of now (February 4), 2 days before the God of Wealth's Day (the 10th day of the first lunar month), SJC gold rings are listed at 90.1 million VND/tael in the early morning.

At current prices, gold rings have increased nearly 39.3% over the previous year, and are at an all-time high.

That is, for those who bought plain rings on the occasion of God of Wealth Day last year and sold them on February 4 for 88.1 million VND/tael, they earned a profit of 23.4 million VND/tael after only 1 year.

These days, the price of gold in the world and domestic markets is fluctuating strongly. At 8:48 a.m. on February 4, SJC Company listed the price of gold rings of type 1-5 at only 88.1-90.1 million VND/tael (buy-sell); SJC gold bars are priced at 88.1-90.6 million VND/tael.

The world spot gold price also increased to 2,819.8 USD/ounce, the gold futures price for February 2025 on the Comex New York floor was at 2,854 USD/ounce.

In the market, plain round gold rings, gold coins of God of Wealth or gold coins of mascots are also sold everywhere. However, at the stores of big brands, people still find it difficult to buy gold before the God of Wealth day.

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