Those who laughed at me for buying gold at $3,100 per tael now regret it

They felt vindicated when prices later fell to VND75 million, but now that they have bounced back and exceeded VND100 million per tael, it is my turn to laugh. I believe prices are going to reach VND120 million per tael at this rate.

Reader Nguyentuananh

Readers have been sharing mixed reactions to rising gold prices. Both domestic and global bullion rates have been setting multiple records recently, with the former doing so more frequently. The precious metal has climbed to over VND101 million per tael in Vietnam as of Monday.

Reader Let it be shared:

"My daughter has been trying her hand at buying gold. In February, I told her to buy one-tenth of a tael. When she went to the shop, the price was VND9.1 million, higher than she expected. She hesitated and bought only half, saying she would wait for prices to drop. But they have only risen since then. Seeing today's price, she deeply regrets not buying more."

Read Congminh said:

"I believe gold prices will continue to break records. As long as people still rush to jewelry stores whenever prices rise, they will certainly climb higher. A few months ago, I advised everyone to hold onto their gold and buy more instead of rushing to sell, but some laughed at me. They are probably busy regretting it now."

Commenting on people flocking to jewelry stores, reader Truongkk said:

"You should only buy when the rates are falling. If you buy when prices are at their peaks, you might have to wait a long time for it to rise back up."

Reader Nham Dinh Dinh finds the gold fever baffling:

"Only Vietnamese people seem to care so much about gold prices. I live in Germany and work 10 hours a day. None of my colleagues ever talk about the precious metal. Even when I go to a restaurant, I do not hear anyone discussing global gold news. They only talk about sports, food, gardens, and some comedy movies."

Reader Ngockieulong agreed:

"Gold cannot be eaten nor cure diseases. It is not a raw material for manufacturing nor is it used in construction. It is just jewelry, so why do its prices keep growing?"

Reader Truongkk cautioned against buying gold at its peak:

"You should only buy when prices are down. If you buy when the rates are at their record highs and they later fall, you may have to wait a very long time for them to rebound."

What are your thoughts on the topic?

*These opinions were translated into English with the assistance of AI. Readers’ views are personal and do not necessarily match VnExpress’ viewpoints.