At 2:00 p.m. on March 12, 2024, the domestic SJC gold price increased again, reaching 82.5 million VND/tael for sale, a new record price, the highest ever.

At Saigon Jewelry Company Limited - SJC, the buying price of SJC gold is 80.5 million VND/tael and the selling price is 82.5 million VND/tael.

Compared to the early morning of the same day, the price of SJC gold here increased by 300,000 VND for buying and increased by 280,000 VND for selling.

After adjusting the price increase in both buying and selling directions, the difference between the buying and selling price of gold at this unit is 2 million VND.

Gold price listed at Saigon Jewelry Company Limited. Website screenshot at 2:00 p.m. on March 12, 2024

At Bao Tin Minh Chau, at the same time, this unit listed the price of SJC gold at 80.5 million VND/tael for buying and 82.4 million VND/tael for selling.

Compared to the early morning of the same day, the price of SJC gold at Bao Tin Minh Chau was adjusted up 200,000 VND for buying and up 250,000 VND for selling.

Gold price listed at Bao Tin Minh Chau. Website screenshot at 2:00 p.m. on March 12, 2024

Thus, in just this morning session, the gold price has increased sharply twice, setting two new records. At the beginning of this morning's trading session, the SJC gold price was at 82.3 million VND/tael for sale. And early this afternoon, the SJC gold price was at 82.5 million VND/tael.

In the international market, the spot gold price is at 2,180 USD/ounce. Converted according to the USD/VND exchange rate at commercial banks, the international gold price is equivalent to 65.5 million VND/tael (excluding taxes and fees).

The gold market is witnessing unprecedented developments as domestic gold prices continuously break records in a short period of time, not only for gold bars but also for gold rings. According to analysts, both domestic and international factors are supporting domestic gold prices to reach new peaks these days.

Gold prices have continuously set records, many investors and people have taken the opportunity to sell gold to make a profit. Ms. Thu Phuong (Bac Tu Liem, Hanoi) said that with the high gold price, I have sold gold to make a profit. With the purchase price of 80.5 million VND/tael, today I have made a profit of more than 2 million VND/tael compared to the time of purchase. " The profit of more than 2 million VND is higher than my family and I expected when we decided to invest in gold " - Ms. Thu Phuong shared.

Experts recommend that investors can sell SJC gold at this time. Illustrative photo

Meanwhile, according to analysis from experts, investors and people who bought gold before can think about selling at this time, because the gold price is at its peak, investors are having high profits.

Economists advise investors not to wait too long, because domestic gold prices fluctuate according to world gold prices. Gold prices increase continuously but can also decrease unexpectedly. Therefore, if investors see a reasonable profit level, they can sell gold to take profit and use the money for other purposes.

However, regarding gold investment, experts warn investors and people to be cautious when buying and storing gold at a time when prices are continuously setting records like now. If you buy gold for investment at this time, the risk is very high, not to mention the profit will not be high.

A representative of the Bao Tin Minh Chau gold brand recommends that gold prices continue to increase and show no signs of stopping, so investors and people should consider carefully before trading and regularly monitor gold prices on official channels to make the right investment decisions and avoid losses.

In such a supply-demand context, information on the amendment of Decree 24/2012/ND-CP dated April 3, 2012 of the Government on the management of gold trading activities has received attention from the business community, investors and people.