After 1 night, gold ring buyers lost 6.5 million VND/tael

At 11am this morning, Doji listed the price of gold rings at 82 - 84 million VND/tael. Similarly, SJC listed the price of gold rings at 83 - 84.8 million VND/tael.

Ms. Nguyen Thi My Hanh ( Hung Yen ) shared that yesterday afternoon she just bought 2 taels of gold rings at the price of 88.5 million VND/tael. Thus, up to now, if she sells them, Ms. Hanh may lose 6.5 million VND/tael.

" I see that the price of gold rings has been increasing continuously recently and it is also difficult to buy. After waiting for a long time, yesterday I was able to buy 2 taels of gold. Who would have thought that after just 1 night the price would have dropped sharply. If I sell 2 taels of gold, I will lose 13 million VND. However, I decided not to sell, wait for the market to stabilize and then consider later, " said Ms. Hanh.

Gold ring prices plummet, buyers suffer heavy losses. (Illustration: Minh Duc).

Similarly, Mr. Tran Minh Tuan ( Bac Giang ) also said that recently, the price of gold rings has increased quite well and continuously. Therefore, right after the savings book was due to be withdrawn, Mr. Tuan took it all back to buy 10 bars of gold rings.

"Because it's hard to buy from big brands, I bought gold at small retail stores. I just bought 10 taels last night for 88 million VND/tael, this morning I saw the gold price drop to 82 million VND/tael (buying price), so I lost 60 million VND in less than 1 day. I didn't think the gold price could suddenly drop so much ," said Mr. Tuan.

The price of gold rings has not shown any signs of stopping decreasing. In the early afternoon, the price continued to decrease to 81.5 - 83.8 million VND/tael (buying and selling). The transaction price at SJC also decreased to 81.7 - 84.1 million VND/tael.

Not only has the price of gold rings fallen sharply, but the price of gold bars is also plummeting, to 82 - 86.5 million VND/tael, down 2 - 4 million VND/tael.

The reason for the drop in gold prices is due to the impact of world prices. The election of Donald Trump as US President with the prospect of a new administration prioritizing tax cuts for domestic businesses has quickly brought benefits to the USD and caused gold prices to plummet.

In the ongoing trading session in the world, the spot gold price has decreased by more than 80 USD (about 3%) in less than 24 hours, setting the strongest daily decrease in 5 months and is currently running around the threshold of 2,650 USD/ounce.

In addition, the sudden increase and decrease in the price of gold rings has also been warned by experts to buyers and investors. According to experts, at a time when the price of gold rings is continuously reaching historical peaks, investors should be cautious and not invest according to the crowd mentality.

Gold expert Tran Duy Phuong recommends that people should not buy gold if it is not really necessary. Those who have bought gold before and made a profit should also consider selling when they have reached their desired profit.

" Buying domestic gold at this time is very easy to 'buy at the peak' if the world price reverses and plummets in the short term. If you sell to take profit and the price continues to increase, you won't regret it because the profit from gold rings since the beginning of the year is 25-30%, which is an attractive level ," Mr. Phuong advised.

According to economic expert Dinh Trong Thinh, plain gold rings were previously often bought as gifts, but now many people are looking to buy them to accumulate assets. However, at this time, the price of gold is increasing, difficult to predict, people should not buy and sell large quantities of gold.

"For buyers, if the price is too high, it is difficult to avoid following the crowd. For sellers, gold rings are scarce, so they can sell now but it will be difficult to buy later, " he said.

Ngoc Vy

Source: https://vtcnews.vn/sau-1-dem-nguoi-mua-vang-nhan-lo-6-5-trieu-dong-luong-ar906075.html