scarce supply
Recently, domestic gold prices have continuously increased sharply, at times exceeding the threshold of 120 million VND/tael. However, many people in Ho Chi Minh City have difficulty buying SJC gold bars and gold rings, even though they have enough money.
Recorded on April 19, at large gold shops such as Mi Hong (Binh Thanh District), many customers said they had come here many times but were always in a crowded situation. Most customers come here to buy gold rings, even at times the store announces that it is temporarily out of stock, people have to wait.
"Gold is a safe investment accumulation channel, so I still choose to buy at this time. However, buying is quite difficult when I have to wait in line for quite a while" - Mr. Nguyen Ngoc Vu (living in Go Vap district) shared.
The gold shortage is not only happening at large stores but also at many small gold shops in Ho Chi Minh City. Many places only sell gold jewelry, there are no gold rings or gold bars to sell.
Gold prices will decrease in the short term
In this situation, economic experts recommend that people should consider carefully before buying gold, avoid buying according to crowd psychology or short-term speculation. At the same time, there should be solutions from authorities to stabilize the gold market and ensure consumer rights.
Economist - Dr. Nguyen Tri Hieu said that the reason for the sharp increase in gold prices recently mainly comes from the impact of the world gold market. Currently, international gold prices have surpassed the 3,300 USD/ounce mark, reflecting major fluctuations in the global context.
One of the main factors is the US's introduction of new tariff policies for many countries, causing trade tensions to escalate, especially between the US and China. This trade war has triggered a wave of concerns and made gold a safe haven for investors.
However, economic experts also believe that in the short term, gold prices may correct down when investors take advantage of taking profits. However, in the long term, the upward trend in gold prices is likely to continue throughout 2025
At 2:00 p.m. on April 19, in Ho Chi Minh City, the price of SJC gold bars was purchased by Saigon Jewelry Company SJC and DOJI Group at VND 112.0-114.0 million/tael (buy in - sell out).
The price of gold rings at DOJI is listed at 109.5-113.5 million VND/tael (buy in - sell out). Saigon Jewelry Company SJC listed 109.5-113.5 (buy in - sell out).
