Many believed that simply "holding gold in hand" guaranteed a profit. In reality, not everyone enjoyed the full extent of this upward wave.

In September 2025, Huong, 45, bought 10 taels of gold at an average price of VND120 million per tael. At that time, a personal financial consultant advised her to hold gold due to various factors that could support further price increases.

Shortly after, the gold price rose to VND130 million per tael. Realizing a profit of about VND10 million per tael, Huong decided to sell all 10 taels with a mindset of safe profit-taking, waiting for a market correction to buy back at a lower price. So, she made a profit of VND100 million (excluding the buy-sell difference).

But the market did not perform as expected. Instead of a correction, the gold price continued to rise sharply to the VND140–150 million per tael. Facing the "fear of missing out" (FOMO), Huong returned to the market and bought back 10 taels at a price of about VND148 million per tael.

Chasing the price at a high range caused her new cost basis to skyrocket. Meanwhile, she missed the significant price increase from VND130 million to VND148 million per tael. She continued to conduct multiple buy-sell transactions hoping to optimize profits or reduce risk.

Constantly entering and exiting the market caused the price spread costs to grow. With each transaction, investors must bear the difference between the buying and selling prices, which can fluctuate from VND1–3 million per tael. If trading multiple rounds with 10 taels of gold, the total spread cost can reach hundreds of millions of VND.

When the gold price reached VND180 million per tael by the end of the year, Huong no longer held her original investment position. Her previous profits gradually "evaporated" due to transaction costs and inconsistent decisions.

If she had bought 10 taels at VND120 million per tael and held them until the price reached VND180 million per tael, Huong could have achieved a profit of VND600 million. This represents a growth of nearly 50 percent within just one year, a significant figure for any investment portfolio.

Two fatal mistakes 

According to financial experts, there is always a gap between selling and buying prices when transacting physical gold. This spread might not be large in a single transaction, but when investors repeatedly buy and sell, the costs accumulate significantly.

Each time one "jumps in and out" of the market, profit is eroded. If trading multiple rounds, the gains from the upward trend can be substantially canceled out just by the price spread.

The second mistake comes from psychological factors. When prices rise, investors easily fall into the mindset of fearing they will lose their gains, so they sell early. When prices continue to rise, a fear of missing out appears, leading them to chase the market at high levels.

Constantly monitoring price boards in the short term allows emotions to dominate decisions. Instead of sticking to a long-term investment thesis, investors react to every minor market fluctuation, leading to a spiral of buying high and selling low.

Investors need to clearly define their holding goals, investment duration, and the proportion of gold in their total portfolio, rather than making decisions based on short-term fluctuations. Experts recommend allocating only a reasonable percentage (e.g., 10–20 percent of the portfolio depending on risk appetite). 

More importantly, investors should build clear discipline: buy based on specific arguments, set target thresholds or holding periods from the start, and limit being swept up by crowd psychology. In gold investment, steadfastness and prudent capital management often yield higher efficiency than quick reactions to every price movement.

Experts believe the upward trend of gold prices still prevails amidst increasing geopolitical risks and a global economic environment filled with uncertainty.

Forex.com believes the main trend for gold prices remains upward and shows no signs of reversal in the short term.

In Vietnam, on February 28, SJC gold bars were listed at VND184–187 million per tael (buy – sell), an increase of VND3 million per tael compared to the previous closing session.

SJC gold rings (0.1–0.5 tael) were listed at VND183.8–186.8 million per tael, up VND3 million per tael from the previous close.

Nguyen Le