In the last days of April, the gold market in Ho Chi Minh City did not record the situation of people queuing for transactions as in previous fluctuations.
In some streets with many gold business stores such as Cho Quan, An Dong, Cho Lon..., the number of customers coming to transact is sporadic. The buying and selling atmosphere is generally quiet, most customers come to transact with small volumes.
Ms. Nguyen Thi Van (resident of An Dong ward) said that she intended to buy gold from the beginning of the month, but only now that the price has decreased has it decreased. "In recent days, gold prices have fluctuated, so I have been listening carefully to buy. I also buy a small quantity to accumulate, the stores are not as crowded as before, so the transactions take place quite quickly" - Ms. Van said.
Recorded at large stores such as Mi Hong, SJC,... gold buying demand still prevails over selling pressure. People mainly choose gold rings or small gold bars. Some customers said they decided to buy at this time due to concerns that gold prices will continue to fluctuate in the near future.
Ms. Dang Thu Huyen (resident of Gia Dinh ward) said that she still maintains the habit of buying gold monthly but dividing the amount of money. "Instead of buying once in large quantities, I choose to buy gradually to minimize risks. When prices fluctuate, this method also helps reduce pressure" - Ms. Huyen shared.
In the context of strong gold price fluctuations and a somewhat quiet market, management has also been tightened to stabilize business operations. In fact, besides the supply-demand factor, functional agencies are strengthening inspection and supervision to ensure the transparency of the gold market, thereby limiting risks for people and avoiding budget losses.
Recently, the Ho Chi Minh City Market Management Department (QLTT) has administratively sanctioned and confiscated gold at many businesses violating regulations on goods of unknown origin and origin. Through inspection and grasping the situation, tax authorities have also identified increasingly sophisticated tricks to conceal revenue in the precious metal business sector.
It is noteworthy that the phenomenon of individuals "standing in the name" instead of organizations and business establishments to sell gold and silver to other organizations and individuals but not issuing invoices as prescribed. In addition, many places require transactions in cash or use personal accounts to pay customers. These acts lead to a lack of declaration of output sold and actual revenue, causing great losses to the state budget.
At about 9:45 am on April 29, in Ho Chi Minh City, SJC gold bar prices were listed at 163 million VND/tael for buying and 166 million VND/tael for selling; while at Mi Hong, the prices were 163.5-165.5 million VND/tael respectively.
For gold rings, SJC listed at 162.5-165.5 million VND/tael (buying - selling), while at Mi Hong it was 163.5-165.5 million VND/tael.
