Present at the headquarters of Saigon Jewelry Company SJC (District 3, Ho Chi Minh City) at around 9:30 am to buy gold rings, Ms. Ho Thi Nhung (living in District 5) said: "This morning I saw information about gold price increase, worried that it will increase sharply in the coming time, so I had to rush to buy a few to feel secure. When I arrived here, there were about 40 people lining up, I had waited for more than an hour and didn't know when my turn would be."
At noon, the crowd was still standing in front of this company waiting for their turn to trade. Employees here said that the main demand is to buy. However, the amount of gold sold is limited to each customer and there are not many goods left.
Going to 3 stores but unable to buy gold, Ms. Luu Quynh Nga (living in District 4) said: "I want to buy 1 tael of SJC gold or gold rings, but all 3 places have said they are out of stock, I have to let them know when there is gold and they will contact me".
At a large gold shop on Bui Huu Nghia Street (Binh Thanh District), the transaction counter is crowded with customers. Although this store lists quite attractive buying prices, customers coming here to sell gold can be counted on the fingers.
Meanwhile, at stores around An Dong market, Hoa Binh market is deserted, because this area mainly sells gold jewelry.
According to the Vietnam Gold Association, hoarding gold has become a deep-lying eating habit of Vietnamese people. This is a form of "financial insurance" ownership for the family. Gold is an asset that not only maintains its value but also increases in value over time.
Although it may decrease, it will only last for a short time. Gold has a very high liquidity, because it can be divided into gold bullion, gold bullion for payment, exchange and sale, very suitable for the interests and needs of Vietnamese people.
At 11:00 on April 22, in Ho Chi Minh City, the price of SJC gold bars was purchased by Saigon Jewelry Company SJC and DOJI Group at VND 120.5-122.5 million/tael (buy in - sell out).
The price of gold rings at DOJI is listed at 116.9-119,0 million VND/tael (buy in - sell out). Saigon Jewelry Company SJC listed 116.5-1195 (buy in - sell out).
