Vietnam Gold Prices Soar, But Buyers See Modest Profits

Gold prices have seen a sharp increase in Vietnam over the past month. According to recent data, SJC gold bars saw a price rise of 4.8 million VND/tael at Phu Quy and DOJI from August 7 to September 7, with prices listed at 144 - 147 million VND/tael for both buying and selling directions.

At Bao Tin Minh Chau, the price increase was less significant, with a rise of 3.5 million VND/tael on the buying side and 2.5 million VND/tael on the selling side. However, buyers who purchased gold at this brand in August may have lost around 500,000 VND/tael due to the current lower purchase price.

The prices of 9999 gold rings also saw an increase, with prices rising by up to 5.7 million VND/tael at DOJI and Phu Quy. Despite this, buyers can only earn a profit of around 1.8 million VND/tael due to the high buying-selling difference.

The international market is also seeing an increase in gold prices, with current prices trading around 4,413.6 USD/ounce, up from 4,277.6 USD/ounce a month ago. However, this upward momentum may be short-lived as world gold prices have started to adjust, increasing the risk of fluctuations for the domestic market.

Gold buyers are advised to be cautious and consider their investment decisions carefully, taking into account the high buying-selling difference and potential price volatility in the future.