Gold buyers must exercise caution and try to pick the right time to buy or sell to avoid incurring losses and minimising risks as the prices of the precious metal can go lower in the short term.
Adding the 7,900 taels of SJC gold bullions that were successfully auctioned off today, the central bank has released a total of 35,100 taels to the market in the past month.
On the day gold prices peaked, many gold shops in Hà Nội only sold a maximum of five taels, leading to people buying and selling hand to hand outside the store.
As the financial report season begins, besides companies announcing large profits with strong growth, many saw great losses in the second quarter of 2022.
Local gold prices ped sharply after the weekend. At 10am on August 10, the prices were rated down nearly VND1 million ($43) from an hour before at VND59 million (US$2,540) per tael.