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Gold now less attractive than stocks in investors’ eyes
After a period of staying away from the stock market and injecting money in gold, investors now have returned to the stock market where they can get a high percentage of profits.
The Asiagold trading floor has reported that the average gold trading volume decreased to 69,000 taels per day late last week from 200,000 taels previously.
The stock market has shown signs of recovery, now marching towards the new resistance level of 360 points. A lot of investors now need to have more money to purchase more shares to surf on the investment.
An investor in the Indochina Securities Company’s trading floor said that it is very difficult to forecast the gold price performance right now; therefore, he dares not make any big deals. Meanwhile, the stock prices have become attractive enough for investors to accept risks to make investments. The stock market is believed to have bottomed out in the financial crisis and will head up in the time to come.
Analysts said that the cash flow has been running from gold trading floors to the stock market, which also explains why the volume of securities transactions has been increasing sharply in the last few trading sessions.
A lot of securities companies, which opened order receiving agents for gold trading floors last month, might not have imagined that the gold market could become quieter after their agents became operational. The warming up of the stock market and the cash flow from the gold trading floors to stock trading floors proves to be all out of predictions.
However, only some investors have left the gold trading floors, while many others have been staying with the gold trading floors, including small ones with the modest capital of between VND 15-20 million. With such small sums of depositing, investors can place orders to purchase ten taels for each transaction and place many orders per day. Diligent investors can now pocket VND 10 million a month. The small profit of VND 50,000 would be enough for the small investors to place orders, purchase, or sell.
The current gold price performance allows investors to easily make profits even when the gold prices do not fluctuate too heavily. This explains why retired men and women and students use all the money they have to make investments in gold.
Analysts also said that it would be quite normal to see the cash flow going between the gold and stock markets this year, which should be seen as a normal thing in the finance-stock market development. Securities companies hope that once the UpCom market is open, more cash will flow into stocks, which will bring them more jobs.
VietNamNet, DTCK
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