Gold price increases, buyers cautiously spend money

Investor psychology changes

Gold has long been considered a safe and attractive investment channel, especially in the context of many economic fluctuations. However, the rapid price increase in recent days, combined with the large difference between buying and selling prices in the domestic market, is making people's psychology more reserved.

Ms. Tran Thanh Hang (Hai Ba Trung District, Hanoi) shared: "I went to the store to see market trends, and saw that there were also buyers and sellers, but many people like me were still hesitant. The price is high, the difference between buying and selling is up to 3 - 4 million VND/tael, so I don't know if I should pay or not".

Many people, even though they want to buy, still have to face the situation of limited supply at some business locations.

At a large gold shop on Tran Nhan Tong Street (Hanoi), many customers reported that buying gold rings in recent days has not been easy. Ms. Nguyen Hoai An (Hoan Kiem District) said: "Many times I came to queue but could not buy because the shop did not sell gold rings. Today, I arrived early, the staff said that each person could only buy 2 taels, so I took the opportunity to buy them right away.

Meanwhile, some stores are ready to sell in large quantities if customers have a need. However, many people are hesitant at high prices, worried about the risks when the market may suddenly reverse.

Mr. Phan Anh Tuan (Cau Giay District - Hanoi) shared: "There are stores that do not limit the quantity sold, I asked to buy 2-3 quantities but they still sell. But the current price is too high, I'm afraid that after buying, the price will turn down, so I'm very hesitant."

Silver shops "sold out"

The escalating gold price has caused heat to spread to other metal investment channels such as silver. When buying gold becomes difficult or cannot buy the desired quantity, many people turn to silver as an alternative. However, rapidly increasing demand has caused silver supply to fall into a state of scarcity.

Ms. Pham Thu Giang (Long Bien District) said: "On April 11, I ordered silver, but the store said they had to wait until May 12 to have the goods. That is, it has only been received for nearly a month. However, they still issue invoices so that if I need to resell, I can transact while waiting for the goods."

Talking to Lao Dong reporter, a sales staff at a jewelry store on Cau Giay street said that all the silver items here are out of stock, customers who buy at this time have to wait at least 1 month to receive them.

"Not only customers in Hanoi, but also the number of orders from other provinces and cities has increased sharply, causing the system to be overloaded. Currently, the company is expanding distribution to many localities to meet demand" - this person said.

The sharp increase in purchasing power, not only for gold but also for silver, shows that people's psychology of finding safe havens is very clear, especially when the financial and foreign currency markets are still experiencing many unpredictable fluctuations.

In the context of strong gold price increases, investing at this time requires caution. Limited supply while demand increases rapidly makes the market susceptible to imbalance. The massive sale of businesses not only causes price fluctuations but also poses risks to goods management. Therefore, limiting sales is considered an effort to stabilize supply and demand during the period of fluctuations.

For people, this is not the ideal time to invest emotionally or follow crowd psychology. The large difference between buying and selling prices, unpredictable developments and market risks are factors that need to be carefully considered before putting money into the market.