Gold prices rising this week — what should you do with your money?

7 AM this morning, I was sitting at a small cafe on Pasteur Street with black coffee when I saw the news about gold prices predicted to rise again. The neighbor next to me asked me — “Ho, gold is going up now, should I sell?” I looked into my cup of coffee and remembered how many times I stood in her position — not knowing where my money should go, uncertain about the right decision.

📌 What’s happening

• Gold prices are predicted to continue rising in the coming days, following recovery at the end of the weekend session
• Analysts believe the upward trend could continue, creating opportunities for investors
• Current gold prices reflect concerns about inflation and the global economic situation
• Demand for gold from central banks and investors is increasing significantly

Source: vnexpress.net

What Ho Alva sees

A few years ago, when I was rebuilding Big E Co. from nothing, I saw so many Saigon women pouring all their money into gold. Not because they loved gold — they were afraid. Afraid of inflation, afraid of money losing value, afraid of having nowhere to “preserve” their assets. Goldman Sachs reported in 2023 that individual investors bought gold 3 times more than in 2020. That number doesn’t tell you about gold prices rising or falling — it tells you about people’s psychology. And I understand that very well.

But here’s the question I want you to answer yourself: If gold rises 10% this week, how many ways does your money have to protect itself? Gold is just one way. But do you know the other ways? Or do you only know that gold is the safest?

For women entrepreneurs like me, the issue isn’t whether gold will rise or fall. The issue is whether you have stable income to buy gold. Do you have profit from your business to “invest” or are you just spending without a plan? I see too many sisters with 100 million in gold but their monthly revenue is still unstable. That worries me more than gold prices.

🔍 Which number deserves more attention

According to the General Statistics Office, domestic gold prices in 2023 fluctuated from 65 million dong per tael down to 55 million, then back up to 70 million by year-end. Those who entered at the highest point lost nearly 20% of value. But the real number worth noting isn’t price volatility — it’s the percentage of Saigon women putting money into gold without a sell plan. They buy because they’re afraid, not because they truly understand value. And that’s the biggest mistake. A financial decision should never start from fear.

I once…

In 2018, when I faced with financial difficulties, I sold all my gold to pay debts. I had bought gold in 2015 at 34 million per tael and sold it at 41 million per tael. I thought I made profit, but really I only earned 20% in 3 years — lower than inflation. If I had invested that money in a marketing course or building a business network, I’d probably earn 10 times more by now. From that point on, I changed my thinking: Gold is a last resort, not an investment. Use it only when you have no other options.

Are you holding money in gold, or are you building something so your money doesn’t need to “hide”? Book a free consultation