Gold price increased to an unprecedented high, gold rings increased to nearly 95 million VND/tael
Gold prices increased sharply early this morning, March 13, 2025. Gold bar prices exceeded 94 million VND/tael for the first time, while gold rings increased continuously to set a new record, nearly 95 million VND/tael.
Gold prices continue to set new records
On the morning of March 13, the price of SJC gold bars continued to increase sharply, reaching 94.2 million VND/tael in the selling price, 700 thousand VND/tael higher than the closing price yesterday.
At some gold trading enterprises such as Mi Hong Company, the buying price was even pushed up to 94.4 million VND/tael, while the selling price reached 93.4 million VND/tael. This is the highest price of SJC gold bars recorded this morning.
In particular, a new record for gold bar prices was set when Bao Tin Minh Chau Company listed gold bars under the brand name Vang Rong Thang Long at 94.6 million VND/tael, about 400 thousand VND/tael higher than SJC gold bars.
Not only gold bars, but also the price of 24K gold rings and jewelry gold also fluctuates strongly. At Bao Tin Minh Chau, the price of plain round gold rings is listed higher than the price of gold bars, with the buying price of 93.1 million VND/tael and the selling price of 94.7 million VND/tael.
Each company lists different prices for gold rings, leading to significant differences. For example, PNJ sells gold rings for VND94.5 million/tael, while at Phu Quy, the price even reaches VND94.6 million/tael. It is worth noting that 99.99 gold rings and gold bars of some other brands are currently priced higher than SJC gold bars.
Analysts say gold prices are still on the rise due to financial market turmoil and investors’ demand for safe-haven assets. As stock markets and other risky assets become volatile, many people turn to gold as a way to preserve value.
However, there are also factors that could slow the rise of gold. Some new developments in the conflict between Russia and Ukraine are showing positive signs, which could reduce the need for hedging. In addition, the US economy is also showing signs of weakness, changing investors' expectations about monetary policy.
It is worth noting that in recent trading sessions, gold has not fully played its role as a "safe haven" when the stock market has plummeted. Some investors have been forced to sell gold to cover losses in their stock portfolios. However, in the long term, gold is still considered a safe investment channel in the context of the global economy still having many uncertainties.
Psychology of gold buyers and sellers
The soaring gold price has caused many people to have mixed reactions. Some, like Ms. Nguyen Ngoc Ha (residing in Dong Da, Hanoi), said she would still buy gold regardless of whether the price went up or down, as long as she had money.
On the contrary, people like Ms. Tran Thi Nga (residing in Hai Ba Trung, Hanoi) take advantage of high prices to sell gold.
However, not everyone clearly understands the difference between the price of gold bars and gold rings. When selling gold, Ms. Nga was surprised to learn that the purchase price was only 93 million VND/tael, while she thought she could sell it for 94.7 million VND/tael.
This difference comes from the fact that the price of gold rings is higher than that of SJC gold bars, while Ms. Nga owns gold bars. However, she still earns a profit of nearly 20 million VND/tael compared to the previous purchase time.
At some large gold shops such as Bao Tin Minh Chau, the number of customers coming to buy gold even outnumbered those coming to sell. Many shops have limited each person to buying a maximum of 1 tael of gold, but there are still many people lining up to buy.
At a time when gold prices are constantly setting records, buyers need to consider carefully before deciding to invest, avoiding being influenced by crowd psychology. At the same time, understanding the difference between gold bars and gold rings, as well as how businesses list prices, will help investors make appropriate choices and optimize profits.