Gold market in Ho Chi Minh City: Accumulated buying power dominates

HẠ MÂY |

The gold market in Ho Chi Minh City is fluctuating, but buying power is recorded to prevail in many stores.

Recorded in the first days of May, the trading atmosphere on gold business streets such as Bui Huu Nghia street, Le Thanh Ton street... is not as bustling as previous "fever" waves. However, at some large stores such as SJC, Mi Hong..., the number of customers entering and leaving is still maintained steadily, especially in the morning hours. Customers do not have to wait long, the crowded queuing situation is almost gone.

Người dân chờ giao dịch vàng ở cửa hàng SJC trên đường Nguyễn Thị Minh Khai sáng ngày 4.5. Ảnh: Hạ Mây
People waiting for gold transactions at SJC store on Nguyen Thi Minh Khai street on the morning of May 4. Photo: Ha May

Ms. Dang Le Thanh (resident of Tan Hoa ward) said that she decided to buy 1 tael of gold when she saw the price decrease in recent days. According to her, although the market still has many fluctuations, gold is still a safe asset holding channel, so every time the price "cools down", it is an opportunity to buy and hoard.

Gold is still a safe asset holding channel in the context of price fluctuations, so when it decreases, I take advantage of buying it, both to accumulate for a long time and to feel more secure compared to other channels" - Ms. Thanh shared.

At Mi Hong shop, the trading atmosphere is also quite bustling, customers stand crowded at the counters to choose products. The buying demand mainly focuses on gold rings and small gold bars. However, the supply of gold bars during the day is not abundant; at times the store no longer has gold bars to sell, while gold rings only have small types such as 5 phan and 1 chi.

Meanwhile, Mr. Minh Tuan (resident of Thu Duc ward) said that he only bought a small amount of gold rings to accumulate gradually. "I don't buy much, mainly accumulate little by little. Prices are fluctuating, so I also have to consider carefully, I don't dare to spend big money" - Mr. Tuan said.

Representatives of some stores said that the most traded items currently are plain gold rings and small gold bars, suitable for people's accumulation needs. Jewelry products also show signs of a slight increase in customer volume, but the increase is insignificant compared to the investment gold group.

At about 9:30 am on May 4, in Ho Chi Minh City, SJC gold bar prices were listed at 163.6 million VND/tael for buying and 166.6 million VND/tael for selling; while in Mi Hong, the prices were 165.0-166.5 million VND/tael respectively.

For gold rings, SJC listed at 163.6-166.6 million VND/tael (buying - selling), while at Mi Hong it was 165.0-166.5 million VND/tael.

HẠ MÂY
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