Recorded in the Ho Chi Minh City market, many gold shops said that the number of customers coming to transact has increased significantly in recent days. In which, buyers dominate when taking advantage of depositing money at lower prices than before. Gold businesses also no longer apply sales restriction measures like during the market hot period.
At Mi Hong gold store, right from the morning, there were many customers coming to transact, mostly buyers. The buying and selling atmosphere was much busier than in previous weeks when gold prices continuously anchored at high levels.
I see gold prices fall sharply, so I take advantage of buying 1-2 taels to accumulate. I don't expect to surf the wave but determine to hold for a long time, so this is a suitable time to buy in. Although there are quite a few customers, the waiting time for transactions is not too long" - Mr. Ngo Van Toan (resident of Binh Thanh ward) shared.
Similarly, Ms. Nguyen Thi Hang (resident of An Hoi Dong ward) said that she decided to buy a tael of gold after the price dropped sharply.
“I choose to buy gold at this time because I see the price is suitable. Previously, the price increased too quickly, sometimes exceeding my financial capacity, so I only monitored and did not dare to buy,” Ms. Hang said.
At many large gold trading points in Ho Chi Minh City, most customers choose gold rings and jewelry gold. Notably, most only buy from 1-5 chi to accumulate, instead of spending large amounts of money to collect large volumes of gold like the hot price increase period before.
At SJC Company, each customer is allowed to buy a maximum of one tael of plain gold rings, while SJC gold bars are still sold according to demand. Although the number of customers has increased, stores do not record the situation of people having to queue for transactions as in early March.
Commenting on the current gold market developments, gold expert Tran Duy Phuong - Director of Golden Fund Jewelry Company said that investors should prioritize capital safety factors instead of chasing short-term profit expectations. Investors should shift from a 4:6 ratio of capital allocation to 6:4 ratio. Specifically, about 60% of capital should be deposited in savings to ensure safety, while the remaining 40% can be allocated to investment channels such as gold or securities to seek profit opportunities.
At about 9:45 am on June 7 in Ho Chi Minh City, SJC gold bar prices were listed at 146.2 million VND/tael for buying and 150.2 million VND/tael for selling; while at Mi Hong, the prices were 146.2-148.0 million VND/tael respectively.
For gold rings, SJC listed at 146.0-15.0 million VND/tael (buying - selling), while at Mi Hong it was 146.2-148.0 million VND/tael.
