Buzz
In July and August, gold prices surpassed 60 million dong. Currently, on August 25, 2020, gold prices are declining to around 55-56 million dong per tael. However, this is still considered a high price with complex trends, leaving many undecided on whether Gold prices are rising, should you buy gold now or not?
Is it advisable to buy or sell gold at this time?
1. Update on Gold Prices on August 25, 2020
Depending on the type of gold and the province, gold prices will vary. On August 25, 2020, gold is priced as follows:
- Gold 24k in Ho Chi Minh City is bought at 52.5 million VND per tael and sold at 53.6 million VND per tael.
- Gold 18k in Ho Chi Minh City is bought at 37,854 million VND per tael and sold at 40,354 million VND per tael.
- Gold 14k in Ho Chi Minh City is bought at 28,902 million VND per tael and sold at 31,402 million VND per tael.
- Gold 10k in Ho Chi Minh City is bought at 20,003 million VND per tael and sold at 22,503 million VND per tael.
- SJC Gold in Hanoi is bought at 55,150 million VND per tael and sold at 56,220 million VND per tael.
- PNJ SJC Gold is bought at 55,200 million VND per tael and sold at 56,200 million VND per tael.
- DOJI AVPL/buôn Hanoi Gold is bought at 55,140 million VND per tael and sold at 55,820 million VND per tael.
- The world gold price stands at the threshold of 1,943 USD/ounce, compared to the trading session on August 24, 2020, decreasing by 15.7 USD/ounce.
2. Gold Prices on August 25, 2020, in the Range of 55-56 million VND: To Buy or Sell?
Based on gold investment experience, many indicate that the world gold price has continuously risen in the past 5 months, increasing by 600 USD/ounce. In the last 3 months alone, the nominal gold price has surged by 300 USD/ounce. Therefore, the recent adjustment in gold prices, reducing to around 63 million VND, is considered uncertain, and gold prices are expected to continue decreasing.
Is it advisable to buy gold today?
Additionally, the price difference between buying and selling gold is approximately 1 million VND. Profiting from gold during this period is seen as challenging. Therefore, buyers looking to invest in gold need to exercise caution, carefully assess the situation to avoid buying at a high price and selling at a low one. Long-term gold investors should consider a reasonable buying price, while short-term investors should buy when gold prices reverse, showing signs of an upward trend.
Investing in gold at this time requires careful consideration for both buying and selling, given the unusual fluctuations in gold prices. You need to evaluate and make the best choice for yourself to avoid regrets, whether gold prices rise again or continue to decrease.
