Investing in gold is full of luck and risks

An experienced gold analyst was extremely surprised when the world gold price surpassed the 1,230 USD/ounce mark so early (on May 12), something this expert said would only happen by the end of this year. can be achieved. However, some other opinions believe that although gold prices on both the world and domestic markets are currently "falling", the upward trend of gold will still remain.

Therefore, until now, gold is still an attractive but risky investment tool, contrary to previous common thinking that gold is the main tool to prevent negative fluctuations in the financial market and world economy or to fight inflation. Gold trading enterprises said that the unusual fluctuations and declines in domestic gold prices in recent days are mainly based on world prices and have absolutely no speculative elements. Businesses also confirmed that there is no shortage of goods.

As of May 18 (reaching 28 million VND/tael), the gold price has increased 1.5 million VND/tael compared to the end of April (26.5 million VND/tael) and also from this time the gold market has had signs of excitement returning. By May 21, the gold price dropped to 27.33 million VND/tael (an increase of more than 800,000 VND/tael compared to the end of April). However, the main trend is still companies buying, with very little selling. According to a representative of Saigon Jewelry Company (SJC), from the beginning of May until now, the company has continuously purchased with increasing volume.

In the early days of May until now, the average amount of gold purchased by SJC per day is about 2,000-4,000 taels (equal to and doubled compared to April). The company's sales in recent days have mainly been to banks that need to balance the gold position in their accounts, but people rarely transact, because they are more "awake" when deciding to buy. often sell. Gold trading activities are taking place normally, there is no phenomenon of companies running out of goods and pushing up buying prices.

Because, in the early days of May, world gold prices continuously set records, leading to an increase in domestic gold prices. In recent days, world gold prices have decreased, leading to domestic gold prices also decreasing. A representative of Phu Nhuan Jewelry Company (PNJ) said that in November 2009, gold prices were "manufactured" by speculators taking advantage of the State Bank's ban on gold imports and the price of USD in the market. "escalating" freedom makes the domestic gold price higher than the world price.

At the present time, if converted with the listed exchange rate of commercial banks (about 19,010 VND/USD), the domestic gold price is about 200,000 VND/tael higher than the world gold price, not including other costs. (If counted, it's equal). A stable foreign exchange market will have no reason for speculators to push up gold prices.

At the beginning of May, when the world gold price was at 1,170 USD/ounce, the amount of gold that the company's stores bought each day increased about 5 times compared to April. From the beginning of the year to the middle of May 2010, Gold prices mainly revolve around 26 million VND/tael, so many people buy, listen and when the price "climbs" to more than 28 million VND, they sell to take profits.

In recent days, the price of gold has "dropped" to 27.30 million VND, and transactions at gold shops have been quiet again. However, gold businesses all believe that people must be alert when deciding to buy and sell gold because gold prices can fluctuate unpredictably when the world's economic and political situation continuously has new developments. .

According to Thang Ngoc - Hanoimoi