Buying gold on God of Wealth day is a familiar activity of many people every year. However, is this the right cumulative investment to start a new year?
Buy gold for good luck on the day of God of Wealth
Hong Minh (31 years old, working in the field of accounting) shared that every new year on the occasion of the day of God of Fortune (January 10 of the lunar calendar), she often buys gold to get lucky. “People often say that buying gold on this occasion will bring good luck for the whole year, so I also listen.”
She will usually buy a ring or a small piece of gold. In gold shops there will often be available for sale on the occasion of the Day of Fortune, so just tell the seller what you want. Besides, with the amount of gold bought on the day of the God of Wealth, Hong Minh will usually save it for a long time, not buying it as a “surfing” investment. Gold bought on the day of the God of Wealth will usually not have a high value.
“If I buy it on the right day of the God of Fortune, it will usually be quite crowded, so I usually buy it first or later to avoid crowding. Whenever I have free time, I will go and buy it, taking advantage of the afternoon or afternoon”Hong Minh’s point of view in the story of buying gold on the Day of Fortune.
Artwork – Pinterest
Like Hong Minh, Nam Anh (30 years old) often buys gold on the day of God of Wealth. The guy is currently in business so he wants to have more luck. However, this gold is usually just to buy and then… leave it there.
“I don’t think it’s a good idea to buy gold on the day of God of Fortune for investment. Normally, the price of gold on this day is quite high compared to the common ground. Moreover, buying God of Fortune gold will often be elaborately carved or that year’s mascot is hard to sell”Nam Anh shared.
He also has accumulated gold in the past year to combat possible high inflation. Besides, investing in volatile markets is also more difficult, so gold becomes a safe haven. Even so, Nam Anh emphasized that it is necessary to have a reasonable buying time to bring back a stable interest rate. Because in the past year, there were many times when the gold price went up very high and then fell quite quickly, if anyone bought the price at the top, it would become a loss.
Artwork – Pinterest
The price of gold is so high, it’s hard to buy it
Contrary to the views of Hong Minh and Nam Anh, Ms. Truong Hien (50 years old) has never bought gold on the day of fortune. “If she buys gold for luck, she thinks she will have to watch to buy it every year. The price of gold at that time increased due to more demand. Not to mention having to squeeze at the gold shop to buy it. She just went to work for a normal salary, didn’t do business, so she didn’t intend to buy gold on such days.”
Besides, Ms. Truong Hien also quite likes to buy gold to accumulate. Her method is quite simple that when the price of gold drops, she will buy gold. Since she started working with income, she has been buying gold regularly. The price of gold usually increases over time, so this is a good tool to keep the price of money as well as accumulate.
“She only sold gold once to have money to build a house, another time to buy land. For her with no knowledge of stock investment or other forms of risk, gold is a suitable tool to increase. asset value”.
Illustration – Pexels
In addition, Trong Trung (born in 1992) thinks that the Vietnamese people’s habit of buying Than Tai gold is for luck. At the beginning of the year buy a few just to get lucky for the whole year. Some parents will take the money to celebrate their children’s birthday and then buy gold to hoard later is always a reasonable idea.
However, from a personal perspective, Trong Trung did not buy gold to accumulate. “Holding gold will make me quite nervous. My family has a housekeeper who hires hours each time, they are usually different people. Every time like that, assuming I leave a lot of gold in the house, it also causes anxiety. In addition, my husband and I often travel and work for a long time, if we leave valuables like gold in the house, it also makes me psychologically insecure.
In the story of buying gold on the day of God of Fortune, waiting in line all day just to buy a few pieces of gold for luck, Trong Trung feels inappropriate and wastes time. If people like to buy gold, people can choose a more appropriate time because time is also money.
“Buying gold and hoarding is still a safe channel in terms of value. Because of long-term accumulation, gold will increase over time. However, the difficulty of gold is how to store it where it is safe. During a recession, gold prices will drop, but in the long term, I don’t think this reduction will affect too much.”Trong Trung still believes that gold is an effective investment channel in a volatile market.