Answering this question, Mr. Phuong said that investors who have bought gold up to this point and have made a profit should consider closing the sale.
According to Mr. Phuong, the current gold ring price compared to the world price has a relatively high gap. If converted to USD price, the difference is about 4-5 million VND/tael. Therefore, taking profits at this time should also be considered.
“In April and May every year, domestic gold prices often tend to decrease, due to high demand in the first quarter of the year. It is also not excluded that world gold will also decline again. If you make a profit from buying gold, you should close the sale and wait until April or May when the price drops to buy again,” the expert suggested.
Analyzing further, gold expert Tran Duy Phuong said that investors have bought gold before and during the Lunar New Year, at the current price, the profit rate is quite good, in just a short time. . Just calculate, the average profit is about 2 million VND/tael, so you should take profit.
For example, if purchased before Tet, the gold ring price is only about 62 million VND/tael. When the price increases above 64 million VND, you should sell. This interest rate is equivalent to about 3-4% of the investment amount in just 1 month, much higher than the bank deposit interest rate.
“Investors need to know that any financial market is the same, there are ups and downs, so are stocks and real estate, gold is no exception. In my opinion, just next week there will be a wave of profit-taking from both gold rings and SJC gold by investors,” Mr. Phuong commented.
Besides, many investors are wondering whether to buy 9999 gold rings or SJC gold rings for investment. The expert recommends that you should still choose 9999 gold rings, because SJC gold has a high difference with the world gold price, it is unknown when the State Bank will intervene, so the risk is quite large.
Mr. Phuong assessed that the profitability of gold rings in the future is still large, you can buy and store them, but you should choose the right time to buy.
The expert suggested that you can buy around next May, when both domestic and world gold prices will tend to go down, then there will be good prices.
“At this time, demand is high, gold ring prices are not decreasing, world gold is also increasing, so if you buy at this time, gold rings are at their “peak” price. Investors may have to wait up to a year to make a profit,” Mr. Phuong said.