Gold prices fluctuate between brands, should people buy or sell?

This afternoon, domestic gold prices fluctuated between major companies. While PNJ, Phu Quy,... sharply reduced by 400 thousand VND/tael, Bao Tin Minh Chau increased by 660 thousand VND/tael.

Specifically, at the end of this afternoon (November 13), Phu Quy Jewelry Company in Ho Chi Minh City listed gold rings at 80.8-83.1 million VND/tael (buy - sell), down 400 thousand VND in the buying direction and down 100 thousand VND/tael in the selling direction, compared to yesterday.

Similarly, at PNJ systems, the price of plain round gold rings is listed at 80.8-82.4 million VND/tael, down 400,000 VND/tael in both buying and selling prices.

Meanwhile, at Bao Tin Minh Chau, the price of plain round gold rings is listed at 81.18 - 83.18 million VND/tael, an increase of 660 thousand VND in buying and a slight increase of 60 thousand VND in selling.

People buy and sell gold at Mi Hong store. Photo: Quoc Hai

For SJC gold bars, at Phu Quy, the listed price is 80.5-84 million VND/tael, down 300,000 VND for buying and down 100,000 VND for selling.

At the PNJ system, SJC gold bar price was traded at 80.5-84 million VND/tael, with no adjustment in both buying and selling directions compared to the previous session.

On the contrary, at Bao Tin Minh Chau, the listed price of SJC gold bars is at 80.7 - 84 million VND/tael, a slight increase of 200 thousand VND in buying price and unchanged in selling price.

Regarding the fluctuating gold price in recent days, in an interview with VietNamNet reporter , gold expert Tran Duy Phuong said that the world gold price has continuously decreased in the past week, about 200 USD/ounce. The possibility of the world gold price decreasing by another 70-80 USD, to about 2,550 USD/ounce, to end this adjustment.

According to Mr. Phuong, the domestic gold price cannot be excluded from the impact of the world gold price decline. In just a few days, the two brands SJC gold bars and 9999 gold rings lost 7-10 million VND/tael (selling - buying).

At a time when the domestic gold price is falling quite sharply, the conversion price of domestic and international gold prices is equal. This is also a good opportunity for investors who want to buy for storage or investment.

"We should divide the money and buy gradually instead of rushing to buy all at once. Maybe this week we buy a few quantities and then buy more next week," Mr. Phuong advised.

This expert also advised those who want to sell gold to consider selling at this time. In the past two days, many people have come to sell gold. Buyers do not dare to invest at this time because they predict that the price of gold will continue to decrease.

“If we need money and previously bought it at a price of about 60-70 million VND/tael, we can sell it for profit. If it is not really necessary, we should wait for the right time when the gold price recovers,” Mr. Phuong recommended.

Gold price 'collapses' again and strange reactions from HCMC residents

The price of SJC gold bars this morning (November 12) continued to decrease by another 1.3 million VND/tael, listed at 80.6-84.1 million VND/tael (buy-sell). However, people in Ho Chi Minh City no longer rushed to buy.

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