In just the past 3 days, the domestic gold price has increased by 16-17 million VND/tael, surpassing the world gold price by more than 10 million VND/tael. People are lining up to buy gold. In this wave, who benefits?

Price increase crazy

Saigon Jewelry Company and listed business units SJC gold bar price at 115.5-118 million VND/tael for buying and selling, an increase of 8.7 million VND/tael for buying and 8.2 million VND/tael for selling compared to yesterday morning. The difference between buying and selling prices is 2.5 million VND/tael.

At the same time, gold ring price also adjusted to skyrocket to unprecedented highs.

Specifically, Saigon Jewelry Company listed gold rings at 114 - 117 million VND/tael for buying and selling, an increase of 6 million VND/tael for buying and 6.5 million VND/tael for selling compared to yesterday morning. The difference between buying and selling is 3 million VND/tael.

Another gold company listed the price of plain round gold rings at 113.5 - 116.5 million VND/tael for buying and selling, an increase of 8.2 million VND/tael for buying and 7.7 million VND/tael for selling compared to the opening price of yesterday morning. The difference between buying and selling is 3 million VND/tael.

Bao Tin Minh Chau listed the price of gold rings at 115 - 118 million VND/tael (buy - sell), an increase of 6.7 million VND/tael for buying and 7 million VND/tael for selling compared to yesterday morning. The difference between buying and selling is 3 million VND/tael.

In just 3 days from April 15-17, the price gold bar SJC has increased to 16 million VND/tael, gold rings have increased by 16-17 million VND/tael. However, at some large branded gold shops on Tran Nhan Tong Street (Hai Ba Trung, Hanoi), people are eagerly lining up to buy gold.

On the morning of April 17, the number of customers lining up to buy gold was recorded to be many times larger than yesterday. Customers came in larger numbers like yesterday. God of Wealth Day. At some stores, people lined up from the cashier counter all the way out to the street.

Surprisingly, at Bao Tin Minh Chau store, yesterday they sold 1 tael/day/person to customers, but today they suddenly sell 5 taels. 1 tael/day/person. Customers can even buy up to 10 taels of gold with a note to pick it up in 2 days.

Ms. Bich Hang (Long Bien, Hanoi) said: “Today I bought 5 taels of gold rings and 1 tael of Thang Long Dragon Gold bar from the store and got it right away. I ordered another 10 taels of gold to get in 2 days. With this increase, whenever there is gold, I will buy it.”

According to the reporter's observation, today the majority of people came to buy gold despite the gold price exceeding all forecasts.

Mr. Duc Minh (Thanh Xuan, Hanoi) shared: “Today I saw a lot of people coming to buy gold like it was the God of Wealth’s day. I waited in line for 2 hours to buy gold and was afraid that when it was my turn, the store would run out of gold.”

Gold price far exceeds gold price world, who benefits?

During the gold price increase session domestic The price has increased many times in recent days. World gold. From a difference of 3-5 million VND/tael, the current domestic gold price is nearly 14 million VND/tael higher than the world gold price today, the world gold price is listed at 3,317 USD/ounce (equivalent to 104.2 million VND/tael).

Talk to PV Tien Phong , economic expert Ngo Tri Long - Former Director of the Institute for Price Market Research, Ministry of Finance - said that the current gold price of 118 million VND/tael is the highest in history.

Domestic gold prices increased sharply due to continuous world gold prices set a record. However, due to the scarcity of gold supply, the domestic gold price is currently widening the gap with the world gold price.

According to Mr. Long, in this "gold wave", the price increases rapidly due to investor psychology. "In principle, gold shops trading in gold must make a profit. In this gold wave, gold businesses never let themselves suffer losses, so they set a large gap between buying and selling prices of up to 3 million VND/tael," said Mr. Long.

The expert said, Although there are no statistics on profit of gold businesses after the gold waves, but the "gold houses" still benefit the most. People who buy in take on a "double" risk if the gold price goes down, and have the potential to benefit if the gold price goes up.