Gold Price Jumps, But Investors Still Face Losses

The price of gold has surged after a recent drop, but the rise is not enough to offset losses for investors who sold at higher prices earlier in the year. On September 18th, SJC Company increased the price of its gold bars by 1.8 million VND per tael, bringing the buying price to 144.6 million VND and the selling price to 147.6 million VND.

The current price of gold is lower than its peak in January and February, when it reached 190 million VND per tael. If bought at that time and sold now, investors would have lost as much as 46 million VND per tael or even more.

Despite the low prices, market demand remains weak. A representative from SJC Company stated that the number of customers buying or selling gold has decreased sharply, so the company currently does not limit the amount of gold customers can sell.

The price of silver also rose on September 18th, but it was not enough to offset the losses for those who speculated in silver recently. The current price of silver is lower than its peak at the end of January, which was as high as 58 million VND/kg.