Friends laughed when I bought gold at $3,800; now they are buying at $5,700

People said that at the time that I was "throwing money out the window" for buying at peak. "It might drop to VND80 million tomorrow," they added.

Truth be told, their reactions made me second-guess myself. I am no professional investor, just an office worker with some savings. I bought gold simply because I believed it was a reliable long-term asset, not to chase short-term profits.

Amidst the mockery and skepticism, I stayed quiet, locked the gold in my safe, and carried on with life as usual.

Turns out, I was right. Gold price in Vietnam has surged 84% so far this year, prompting many to line up at jewelry shop these days to buy gold ring at around VND150 million (US$5,700) per tael.

"Have you sold yet? You must be making a fortune!" a friend called me, half-joking.

I just smiled, neither gloating nor rushing to sell. For me, that investment was not just about profit. It taught me a valuable lesson: never make decisions based on crowd psychology.

I have realized most people are concerned of risks when prices are high, but they are also eager to buy, driven by the fear of missing out.

Investing is not a race to buy faster: it is about understanding yourself better. The greatest risk is not loss: it is lacking confidence.

People get swept up in market waves, swayed by others’ words, rushing to buy when they see others doing so, or panicking to sell when others offload. In the end, they do not know if they are investing or just following the herd.

I once read a fitting saying: "The crowd is often right in the early stages, but the winner is the one who knows when to stop." Gold prices are high today, but they can drop tomorrow, no one knows for sure.

Yet, if you buy with knowledge and faith in long-term value, you can stay calm whether prices rise or fall.

I just feel fortunate for trusting my own judgment instead of heeding the chatter around me. The rising gold price brought some profit, but the bigger gain was confidence and resolve.

I am not here to urge anyone to buy or sell gold, nor do I claim it is the best investment. My point is that any investment requires understanding, conviction, and a personal strategy.

Do not waver because of others’ words, and don not wait for the crowd to act before deciding it is "the thing to do."

The market never lacks opportunities, only people calm enough can recognize them. For me, the decision that was once mocked as foolish proves that sometimes, faith in yourself is worth more than gold.

*This opinion was translated into English with the assistance of AI. Readers’ views are personal and do not necessarily match VnExpress’ viewpoints.