Nghe An gold price today March 12 reached 95 million/tael: Transactions increased sharply in the buying direction
Gold prices are currently at an all-time high. Many people are considering selling gold to take profits, gold trading in Nghe An is bustling.
In the early afternoon of March 12, the domestic gold price was listed at 91.6 - 93.7 million VND per tael (buy - sell). For example, PNJ raised the price of plain rings to 92.2 - 93.7 million VND; while at Bao Tin Minh Chau, the buying and selling price of gold rings was listed at 92.3 - 93.8 million VND per tael.
The price of gold bars also increased simultaneously. SJC Company announced around 91.6 - 93.3 million VND per tael, an increase of 600,000 VND for buying and 300,000 VND for selling compared to yesterday. This is the highest price of gold bars ever.
In Nghe An, gold prices have also been adjusted to increase sharply by gold and silver businesses. Accordingly, the price of 9999 gold rings is listed at 91.20 - 91.40 million VND/tael (buy) and 94.30 - 95 million VND/tael (sell). The difference between buying and selling is up to 3 - 3.5 million VND/tael, nearly 1 million VND/tael higher than the domestic price level (sell).
Ms. Le Kim Dung, owner of a gold shop on Cao Thang Street (Vinh City) said: “From the beginning of March 2025 until now, the gold price has increased by nearly 4 million VND/tael. The domestic gold price has recently increased faster than the world price, so the difference between the two markets tends to widen, from the previous level of 1-2 million VND to more than 3 million VND. Up to now, the gold price listed by the shop is approaching 95 million VND/tael, the highest ever.”
Gold prices hit a new peak, and gold shops saw a large number of people coming to trade. Most people came to survey prices and grasp market developments, while many came to sell gold to make a profit.
Mr. Duong XH, residing in Truong Thi ward (Vinh city) said: "Taking advantage of the peak gold price, I sold 20 taels of gold that I had stored for a long time to get money to invest in real estate. Although I know that the gold price will increase, I still need money so I sold. Selling at this time, I have a pretty high profit. There are taels of gold that were previously bought for 48 million VND/tael, now sold for 91.5 million VND/tael, almost double the profit."
Currently, in addition to individuals selling gold because they need money for other purposes, many people who bought gold at a price of less than 90 million VND/tael now want to sell for profit.
Ms. Hoang Minh P., a resident, said: “I bought gold when the price was 86 million VND/tael, now I sell it for 91.50 million VND/tael. After more than 2 months, I have made a profit of more than 5 million VND/tael, with only 500 million VND invested, now I have a profit of nearly 30 million VND, compared to depositing it in the bank to get interest, investing in gold is 6 times more profitable”.
Not only in Vinh city, currently gold shops in rural areas in Nghe An also have a sharp increase in buying transactions, people mainly buy gold in small quantities (usually 1, 3, 5 taels or 1 tael) so when they see a profit, they sell.
According to the explanation of gold shop owners, many people sell gold at this time because: First, they are short-term investors, so selling gold at this time is already a good profit; Second, they do not want to take risks when the price reverses; Third, they think that the gold market will cool down and may be adjusted down in the next cycle.
However, many experts believe that the gold market is currently in a period of excitement, and the price of gold will increase in the near future. Therefore, if you invest in gold for the long term and consider gold as a safe haven asset, you should not sell at this time because the price of gold may increase even more. In particular, if the forecasts about the FED cutting interest rates become reality, the price of gold may continue to reach new peaks. In case, if the investor has a large amount of gold, he should take a profit in part to preserve the profit, and keep a part in case the price increases. And in case the price suddenly drops after reaching the peak, consider buying it back at a lower price.
