Gold continues to hit new highs, people are willing to buy at a difference of 1 - 1.5 million VND/tael of gold ring
On the afternoon of October 21, in response to the rapid change in gold prices, at large gold shops such as Bao Tin Minh Chau and Phu Quy on Tran Nhan Tong Street (Hanoi), a long line of people waiting to buy gold was recorded by reporters.
At Bao Tin Minh Chau gold shop, although only selling 1 tael of gold ring/buy, there are still long lines of people waiting to buy. As soon as he stopped in front of the store, the reporter was surrounded by many people asking if he wanted to sell gold.
"I sold gold to you, each tael of gold I bought at Bao Tin Minh Chau store was 1 million VND higher, if I sold a lot (on 1 tael of gold) I would buy more than 1.5 million VND higher. For example, now the gold price the store is buying is 15.75 million VND/tael, the price he bought is 15.85 million VND/tael. If I sell 2 trees, I will buy them for me for 15.9 million VND/tael," a man quickly suggested.
Not far from the previous man, PV continued to receive an offer to buy gold from a woman right in front of a large gold shop on Tran Nhan Tong street, this person said that he wanted to buy 30 taels of gold, because the shop controlled the quantity of purchases, so he immediately found them from those who came to sell.
"The queue is only allowed to buy controlly from 1 to 5 depending on the day, some people have money they need to collect a few dozen for just 1 day, then they will buy it back from the seller immediately. Just enough to get back, now gold is very expensive, if I buy like that, it will be difficult to guarantee", said a security guard at a gold shop on Tran Nhan Tong street.
Bringing 0.5 taels of gold to help relatives of Ms. Ly Thi Hue (character's name has been changed), Lang Ward, Hanoi said it was also surprising because there were people willing to pay high prices to buy a difference.
"I only have 0.5 taels of gold to sell to my younger brother's family, bringing them here, many people sell them at a price higher than the whole store, even SJC gold or Bao Tin Minh Chau gold, which is 1 million VND or 1 tael. I still haven't sold out yet, so I'll see what happens next," said Ms. Hue.
Busy gold trading on social networks
Not only bustling at gold shops, on social networks, gold trading is also taking place vigorously in closed groups.
On the group "SJC Gold Bar Buying and Selling Group, 9999, PNJ, DOJI, BTMC (main group)", there are continuous posts about buying and selling gold at prices much higher than at stores.
On the evening of October 21, the post with the content "Who would sell SJC for 16.5 million VND/only no", after only 2 hours attracted more than 60 comments.
In addition to buying and selling posts, selling posts also attract many people's attention, the gold price on these groups is often 10 - 12 million VND/tael of gold rings higher than the gold price at the same time.
"Buying and selling on groups is often very risky, the majority pay much higher prices, buying also has to face many risks such as counterfeit gold, fraud, in general I only participate and rarely spend money at these forums", Mr. Xuan Viet (Tu Liem ward) shared.
Domestic gold prices are still higher than world prices, converting tens of millions of VND per tael. This gap makes the domestic market vibrant, but it is also easy to speculate and push up virtual prices.
Given the unusual developments, people should be cautious when participating in the market. Buying and selling at stores with clear invoices and documents not only ensures safety but also avoids damage when prices reverse or arise disputes.
Amid the ongoing "golden fever", the image of people lining up in the middle of Hanoi's afternoon shows that the psychology of gold is still very strong. However, in the context of rapidly fluctuating prices, being alert and choosing a safe trading channel is still the best way to protect your own assets.
