After gold bars, domestic gold ring prices continue to set new records, causing a fever in the market in recent days.
According to Lao Dong on September 23, many gold shops in Ho Chi Minh City announced that they would not sell gold bars or gold rings because they were out of stock, and the shops only accepted purchases.
Visiting a gold shop on Bui Huu Nghia Street (Binh Thanh District), some people came to buy gold rings, but the staff informed them that they were out of stock.
“I need to buy a gold ring as a wedding gift, but this morning I had to go to 2-3 big stores but still couldn’t buy it because they were temporarily out of stock. The staff told me to leave my phone number and they would contact me when they had the item, but they didn’t know exactly when the gold would be available for sale,” said Ms. Lam Ngoc (living in Go Vap district).
Mr. Le Van Thuan (living in Thu Duc City) shared: “I went to a large gold store on 3/2 Street (District 10) and was informed by the staff that the entire system was out of gold rings. It is very difficult to buy gold at this time.”
At the PNJ and DOJI systems, consultants also said that gold rings are currently out of stock and it is unclear when they will be available again. If customers want to buy gold rings, they should contact the hotline before coming to the store.
Speaking with Lao Dong, expert Tran Duy Phuong - Director of Golden Fund Gold and Gemstone Company said that the reason for the price increase is due to the sharp increase in world gold prices, because gold rings are made from raw gold.
“The shortage of gold rings only occurs at large gold shops because these units comply with the principle of input and output documents. Therefore, the purchase of gold is difficult and limited, so they do not have enough raw materials to produce gold rings, leading to a shortage of goods sold on the market,” said a gold expert.
As of 11:00 a.m. on September 23, DOJI Gold and Gemstone Group listed the price of 9999 round gold rings at 80.0-81.1 million VND/tael (buy - sell).
Phu Nhuan Jewelry Company (PNJ) also raised the price of gold rings to 79.9-81.1 million VND/tael.
