Vietnam Gold Prices Rebound Amid Profit-Taking Opportunity
Gold prices rebounded in Vietnam after two days of uncostified weekends, causing many investors to take advantage of profit-taking opportunities. Some customers at gold business stores on Cau Giay street in Hanoi were selling their gold holdings to switch to savings.
According to information from the stores, the quantity of plain round gold rings sold this morning was unlimited, and customers could buy and sell according to their actual needs. Ms. Do Nhat Linh, a customer who recently bought gold at the end of last year when the price was around 9 million VND/chi, said she decided to sell her gold accumulation to switch investment channels.
'I only accumulate to save for personal expenses when I need something or save for my children, without in-depth knowledge. I decided to sell to take profits and switch to depositing savings at the bank,' Ms. Linh shared.
For many middle-aged or elderly people, traditional accumulation channels such as depositing or buying gold are still prioritized. Mr. Nguyen Thien, 60 years old, chose to deposit his savings at the bank to generate profits for his children and grandchildren. He has about 2 billion VND accumulated for his daughter and deposited it at the bank with an interest rate of 6.2%/year.
As of August 3, SJC gold bar prices were listed at 137.5 - 141.5 million VND/tael (buying - selling), increasing by 500,000 VND/tael. The price of SJC plain round gold rings also tended to increase, listed at 137 - 141 million VND/tael (buying - selling), an increase of 500,000 VND/tael.
On the world market, as of August 3, world gold prices increased again, listed around the threshold of 4,062.8 USD/ounce, up 21.9 USD.