Gold price 100 million VND/tael: Nghe An people 'hold their breath' waiting for the price to decrease

This afternoon, the domestic selling price of gold rings reached 98.5 million VND/tael. Similarly, the price of gold bars also jumped to 97.9 million VND/tael. Specifically, the price of gold rings at Bao Tin Minh Chau increased to 96.95 - 98.5 million VND/tael, surpassing previous records; The price of gold rings at PNJ is currently trading at 96.3 - 98 million VND/tael; SJC Company also listed the price of gold rings at 96 - 97.5 million VND/tael. Compared to early this morning, the price of gold rings has increased by an average of 1.1 million VND/tael for buying and 1 million VND/tael for selling.

In Nghe An, the price of gold also continuously increased, at gold shops, electronic boards continuously jumped prices. Specifically, at Kim Thanh Huy gold shop (Cao Thang street, Vinh city), early in the morning, gold was listed at 94.20-98.0 million VND/tael (buy in - sell out), by 9:05 it continued to increase to 94.40-98.30 million VND/tael (buy in - sell out); just 2 hours later, the price of gold was adjusted to 95.0-99.0 million VND/tael (buy in - sell out); at 2:00 p.m., it increased again to 94.50-99.30 million VND/tael (buy in - sell out); by 4:30 p.m., the official price of gold was listed by this business at 100 million VND/tael (sell out) and 96 million VND/tael (buy in).

At other private gold and silver businesses, gold prices are also continuously updated and adjusted hourly. At 4:30 p.m. on March 18, the gold price in Nghe An was listed at VND96 million - VND96.50 million/tael (buy) and VND100 million/tael (sell). Accordingly, this price is currently higher than the general domestic price level by VND800,000 - VND1 million/tael (sell).

Ms. Kim Lien, owner of a famous gold brand on Cao Thang Street, said: “The price of gold is increasing rapidly every hour, and the staff at the counter have to continuously update the price. With the selling price of 100 million VND/tael - the highest price of all time, from the beginning of 2025 until now, the price of gold rings has increased by nearly 15 million VND/tael.”

The skyrocketing price of gold has shocked many people who want to buy gold for storage and investment. Ms. Phuong Thi Viet H., a person who wants to buy gold and lives in Nghi Hai ward (Vinh city), said: “I have idle money and intended to buy gold, but when the price of gold increased, I saw that the price of gold was up to 97 million VND, which was too high, so I hesitated and waited for the price to decrease. Unexpectedly, the price of gold did not decrease but increased rapidly. Now that it is 100 million VND/tael, I do not dare to “buy at the peak”.

Taking profit when the gold price reached 95 million VND/tael, Mr. Nguyen Manh H. (residing in Dung town, Thanh Chuong) decided to wait for gold to "turn around" to decrease to reinvest. However, the gold price not only decreased but also increased dramatically. Mr. Manh H. said: "20 taels of gold, profit of nearly 700 million, thought I had "won big", waited for the new decrease in gold to reinvest, but now, it seems that my calculation was wrong. Now I just know to wait until gold decreases, then I will buy to invest".

According to records, when the gold price reached 100 million, transactions at gold shops seemed to "freeze". Most people only came to consult prices and grasp market developments, but did not buy or sell at this time.

Ms. My Duyen, owner of a gold shop on Tran Phu Street (Vinh City) said: “Unlike other places, when the gold price increases rapidly, people rush to buy gold, shops are scarce of gold and sell in limited quantities, in Nghe An, the gold market is quite quiet at this time. Most people holding gold at this time do not intend to take profits because they think the gold price will increase sharply. Some people have already taken profits at the time when gold increased before. As for buyers, the gold price is too high so they do not dare to go to the top, afraid of risks.”

Experts also recommend that the current gold price is very high, so investors should not be hasty and invest all their capital in gold. Gold prices change, up and down depending on the law of supply and demand. In case the gold price is on an upward trend and is not stable, then you should not buy.

In addition, it is necessary to pay attention to the difference between domestic buying and selling prices. In fact, whenever domestic gold prices "heat up", gold shops often push the difference between buying and selling prices to a very large level, sometimes up to more than 4 million VND/tael, pushing the risk to buyers. Although the selling price of the shop continuously increases, the buying price does not increase, or decreases, causing gold buyers to immediately lose more than 3-4 million VND/tael from the difference between buying and selling.

On the other hand, as demand increases, there are cases of fraud following the price of gold on the "black market" and online gold trading and buying groups. Therefore, people must be very careful when making transactions.