Long queues at some major gold shops
At Bao Tin Minh Chau Tran Nhan Tong (BTMC) gold shop, the number of customers coming to buy gold overwhelms the number of sellers. An employee here said: “At the beginning of the year, the shop is always crowded. The closer it gets to the God of Wealth day, the more customers buy gold than sell. For every 10 buyers, there is only 1 seller.”
Ms. Hoang Trang, a resident of Hoan Kiem (Hanoi) shared: “Every year I buy gold on this day, more or less, to receive good luck at the beginning of the year. Last year I saved a lot so I bought a whole tael, but this year I have less so I only dare to buy by the tael.”
Ms. Trang also said that in addition to gold bars and gold rings, this year she chose gold jewelry because of the variety of designs. “BTMC often has classic designs, while other brands have more youthful designs but the labor costs are a bit more expensive. I consulted a few places and decided to buy from BTMC at 9.07 million VND/tael, cheaper.”
Although it is close to the God of Wealth Day, Ms. Trang commented that the number of customers coming to the store is not as crowded as last year: "Last year at this time, I had to go to several stores to buy something. This year, the goods are not rare, it is quite easy to buy."
At Phu Quy store, reporters recorded a constant flow of customers coming in and out, but there was no long queue. Meanwhile, at Doji, the number of customers coming to make transactions was much lower.
Ms. Mai Quynh (Hai Ba Trung, Hanoi) arrived at 1:30 p.m. to line up to buy gold. “I had to wait nearly an hour for my turn. If I buy a plain ring or gold bar, the waiting time is longer, but if I buy jewelry, I almost don’t have to wait.”
Not only buying, people take advantage of selling gold for big profits
Besides those who buy gold for luck, some customers come to gold shops to sell when gold prices are high.
Ms. Dang Hong (Tay Ho, Hanoi) shared the reason for selling gold: "My family has a grandchild's wedding so I'm selling some. I used to buy it for more than 50 million VND/tael, now I'm selling it for a big profit. After selling it, I'll buy another tael as a gift for my grandchild."
To avoid long waits, large gold shops have come up with more attentive service plans. A BTMC representative said: “We prepare candy, water and arrange chairs so that customers do not have to wait too long and leave.”
It is predicted that tomorrow (January 9) and on the day of God of Wealth (January 10), the number of customers coming to buy gold will increase even more.
Gold prices skyrocket, reaching historic peak
Just two days before God of Wealth's day, gold prices increased dramatically, reaching 91 million VND/tael.
In the early afternoon, SJC gold bars in Ho Chi Minh City and Hanoi were listed at VND88-91 million/tael, up VND400,000 (buying price) and VND900,000 (selling price) compared to the session on February 4. Similarly, DOJI also adjusted the price accordingly.
The 91 million VND/tael mark was maintained by businesses from the morning session and continued to rise in the afternoon session, bringing the gold price to its highest level since May 21, 2024.
Gold rings also skyrocketed. While some businesses listed the selling price at VND90.6 million/tael, DOJI raised the buying and selling price to VND88.2-91 million/tael, an increase of VND100,000 (buying price) and VND1 million (selling price) compared to yesterday.
