Difficulties
At 8:00 a.m. on October 16, Mr. Ngo Duy Dung (33 years old, Hanoi City, currently working in the Northwest region) went to the largest gold shops in Yen Bai ward, Lao Cai province to buy gold.
At the Thu Thu gold shop on Dinh Tien Hoang Street, the manager said that the selling price is 15,400,000 VND/tael of gold, customers can buy up to 5 taels. However, when Mr. Dung suggested transferring the payment, the gold shop owner replied that he would only accept cash.
Not only Mr. Dung, many other customers are also in a similar situation. After being scolded and refused service, they had to sadly go to the bank and then queue up to withdraw cash (could not withdraw at the ATM because the number of withdrawals was limited).
Because he used the service at a bank without a branch in the area, Mr. Dung's withdrawal suddenly became complicated. He had to transfer money to a colleague's account and then asked that person to go to the bank to withdraw the money.
About an hour after having cash, Mr. Dung returned to buy gold and the manager announced that the price had increased to 15,500,000 VND/tael and that he had only sold a maximum of 3 taels.
Next, Mr. Dung went to Thuy Loan gold shop a few hundred meters away, on Dinh Tien Hoang street.
As one of the largest gold shops in the area, Thuy Loan Gold shop also only limits sales to 2 taels/person and requires customers to pay in cash.
Although I am very tired, I and many others still have to follow the law set by the stores. Many people after 1 hour of withdrawing the gold price have increased by hundreds of thousands of VND per tael, said Mr. Dung.
On the morning of October 17, Mr. Dung continued to go to the third store in Yen Bai ward to buy gold instead of having to return to Hanoi to jostle and queue.
The owner of Hung Dung gold shop said that the selling price of gold is 16,250,000 VND/tael. Like the big gold shops before, customers had to pay in cash, not receive bank transfers.
I thought only big cities had a shortage of gold, I didnt expect that in some provinces, buying gold would be so difficult, not to mention the price was pushed higher than brand gold. So during the 2 days I went to buy gold at 3 big stores in Yen Bai (old), I could only buy 7 taels of gold and all had to be paid in cash," Mr. Dung sighed.
Unusual
According to the actual records of the reporter, due to the fluctuations in gold prices with unprecedented increases in history, many people in the highlands have also rushed to buy gold, even waiting for them at small brands in Lao Cai.
At stores, the main trading products are private gold. Famous brands such as SJC, Thang Long Golden Dragon or DOJI are all available for display in limited quantities, with no products for sale.
"If you want to buy, you can. But now that SJC is 17,440 (million VND/tael), selling must be 177 or more, can you buy? ", said a female employee.
Responding to the reporter's question about why he did not accept cash, a gold shop owner admitted that it was a trick to evade taxes.
When asked again if if he could buy a lot of gold and transfer it, this person thought for a while and replied: "If you have anything, just call me first. If any convenient account is still capable of receiving money that day, the store will balance it".
In addition, according to the survey, the scene of people lining up to withdraw money at bank branches to buy gold is common, while small-scale gold shops all choose to close because they have no goods to trade.
Talking to Lao Dong, Dr. La Van Thai - Economic expert said: "In principle, businesses do not have the right to refuse legal forms of payment such as bank transfers. Forcing people to use cash not only causes inconvenience but also poses potential safety risks, especially when people have to carry large sums of money".
Dr. La Van Thai commented that gold shops require only cash transactions for the purpose of concealing revenue to evade taxes. Therefore, management agencies need to strengthen inspections of gold trading establishments, ensure transparent operations and compliance with legal regulations.
The expert also informed that recently - the State Bank has requested gold trading establishments to publicly list prices, and must not set illegal regulations on payment methods.
"This is clearly unusual behavior. It is necessary for the authorities to step in to clarify," said the expert.
