Gold price today August 10: Set a record high but profit is far lower than stocks

The price of gold bars at Saigon Jewelry Company - SJC increased to a new record this week. Currently, each tael of gold bar is bought by SJC for 123.2 million VND, sold for 124.4 million VND, an increase of 1.7 million VND for buying and 900,000 VND for selling compared to the end of last week. The increase in buying price pushed the difference with selling price down to 1.2 million VND/tael instead of 2 million VND like last week.

The current selling price of SJC gold bars has set a new record high. However, gold bar buyers only made a profit of VND200,000 per tael after a week, equivalent to a profit of 0.16%. This profit rate is far lower than that of stock investors when last week the VN-Index also continuously set new records, approaching 1,600 points and a series of stocks increased by 10-15% in just one week.

Domestic gold prices set a new record this week, but buyers made very little profit or even suffered losses (PHOTO: NGOC THANG)

Even more tragic is that buyers of gold rings still suffer losses despite the high price increase. Specifically, 4-number 9 gold rings at SJC Company increased by 800,000 VND after one week, bringing the buying price to 117.3 million VND, selling price to 119.8 million VND. The difference between buying and selling gold rings is still at 2.5 million VND/tael, so buyers suffered a loss of 1.7 million VND after one week.

The world gold price increased by more than 36 USD after a week, to 3,397.6 USD/ounce. The world gold price maintained its upward trend when the US tariff policy with other countries officially took effect. In particular, US President Donald Trump imposed a 39% tax on imports from Switzerland to the US. The US Customs and Border Protection (CBP) announced that 1 kg gold bars are not exempt from tax. Switzerland is the world's largest gold refining country.

Kitco News' survey on gold price trends next week attracted the participation of 10 analysts, of which 6 people, equivalent to 60%, said gold will increase. Only 1 person, equivalent to 10%, predicted the precious metal will reverse down and 3 people, equivalent to 30%, thought gold will go sideways. Meanwhile, the Main Street online survey with 188 individual investors participating showed that 129 people, or 69%, also predicted gold prices to continue to increase. On the contrary, 23 people, equivalent to 12%, said gold will go down and the remaining 36 investors, equivalent to 19%, said the precious metal will go sideways./.

According to Thanh Nien Newspaper

Source: https://thanhnien.vn/gia-vang-hom-nay-1082025-lap-dinh-ky-luc-nhung-lai-thua-xa-chung-khoan-18525081007282344.htm

Source: https://baolongan.vn/gia-vang-hom-nay-10-8-lap-dinh-ky-luc-nhung-lai-thua-xa-chung-khoan-a200399.html