“Seeing the recent wave of people buying and selling gold has only deepened my respect for my mother’s foresight. Years ago, she began withdrawing her savings to buy gold instead of keeping her funds in a savings account. She purchased gold in stages, starting with 10 taels at VND52 million per tael, followed by purchases at VND61 million, VND62 million, VND65 million, VND70 million, VND75 million, and finally at VND78.98 million, amassing a total of over 104 taels.
“As a member of the younger generation, I have learned a great deal from my mother’s investment decisions. Even when considering real estate or apartment investments, I still consult her. These days, she keeps her extra income in short-term savings accounts and spends on travel with friends.
“Gold is a long-term asset, best used to hedge against inflation or currency depreciation. It is not ideal for speculative trading, as returns are generally lower than real estate, although gold offers high liquidity.
“One should only buy gold with idle funds and consider selling only when there is a genuine financial need. If possible, look out for major dips, like the one yesterday, to buy at a favorable price.”
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Gold bars. Illustration by Pexels |
Linh, a VnExpress reader, commented, in response to an article about the recent increase in people selling gold amid a VND6 million price drop. Many gold shops reported higher-than-usual customer volumes, mainly from people offloading their gold as prices declined sharply.
A reader, lenacaohang.oceania, shared, “Although I purchased gold at a high price, around VND88 million to VND89 million per tael, I am not concerned because I am holding it for the long term.Many people sell when prices are high, only to regret it later as prices continue to rise.”
Some readers believe that many people are influenced by FOMO (fear of missing out), buying gold at high prices and selling when prices drop. A reader with the nickname Tay choi a ma ter remarked, “I recently bought five taels of gold rings at VND89.6 million per tael. I am not concerned because I am saving up for a house in the future. If prices drop mid-month, I plan to buy three more taels.”
Another reader, hoanhkhoa1703, added, “In the past, our grandparents bought gold as a way to safeguard wealth, but now people treat it like a speculative asset, no different from stocks or cryptocurrency. Those who buy for long-term holding tend not to focus on daily prices. However, it is perplexing to see people rushing to sell whenever prices dip.”
*Readers’ views are personal and do not necessarily match VnExpress’ viewpoints.
