The gold market is receiving much attention because the price of gold rings and gold bars is continuously setting records. For the gold bar market, buying gold online through the 4 state-owned commercial banks is still difficult because the number of registrations is constantly running out.
“I have a family event coming up so I need to buy gold bars but gold is only sold online. I had to ask my relatives to register for me because I am not familiar with technology but I have been unsuccessful many times” - Ms. Nguyen Thi Linh (living in District 10) shared.
The difficulty of trading gold bars has forced many people in Ho Chi Minh City to turn to buying gold rings at stores. However, gold rings at big brand stores are also constantly out of stock.
“I contacted several brands to ask about buying gold rings, but the staff said they were all out of stock. Therefore, I had to go to a small gold shop near my house to buy gold rings. This is also 9999 gold but has the shop’s own brand, and is a bit cheaper than the big stores,” said Ms. Le Thuong Huyen.
According to Lao Dong on October 30, gold shops in Ho Chi Minh City are quite busy with customers asking for gold rings. Shop owners sell gold in small quantities, some places require orders 1-2 days in advance.
Expert Tran Duy Phuong - Director of Golden Fund Gold and Gemstone Company said that the price of gold rings often depends on the world gold price. The price of SJC gold bars is currently controlled by the State Bank, as well as fixed daily. However, SJC gold bars are not easy to buy, must be registered through a commercial bank, SJC company; gold rings are also scarce.
"The reason for the increase in the price of gold rings is that the world gold price is continuously reaching new peaks, the purchase of gold inputs is difficult and limited, so businesses do not have enough goods to supply the market. The shortage of gold rings not only occurs in large businesses but also in small gold shops, it is very difficult to buy" - expert Tran Duy Phuong commented.
On the afternoon of October 30, SJC adjusted the price of gold bars to increase by 1 million VND per tael. The buying price was 88 million VND/tael and the selling price was 90 million VND/tael. SJC 99.99 gold rings were bought at 87.5 million VND/tael and sold at 89 million VND/tael.
Doji Gold and Gemstone Group listed the buying price of gold bars at 88 million VND/tael and selling price at 90 million VND/tael. 9999 Round Rings are bought at 88.6 million VND/tael and sold at 89.6 million VND/tael.
