On the weekend morning, at a store belonging to the Saigon Jewelry Company (SJC) system in the center of Ho Chi Minh City, the number of customers coming to transact was not too large. The consultant said that most customers currently choose to buy plain gold rings or low-weight gold products, instead of high-value products.
Ms. Nguyen Le Hong Duyen (resident of Binh Thanh ward) shared: "Gold prices are high, so I don't dare to buy as much as before. I divide it into small portions to buy a few centimeters to save. It's both affordable and feels secure, so I can still accumulate.
According to records, domestic gold prices are maintained at a high level, causing many people to consider spending. Instead of accumulating large quantities like in low-price years, the general trend is to buy at affordable prices, even only 0.5 chi or small gold products weighing 1-2 phan.
Mr. Pham Ngoc Duy - owner of Kim Dung gold shop, An Dong ward - said that this year, due to high gold prices, the shop mainly focuses on small-weighted products. Instead of large gold pieces as before, the shop promotes 1-inch, 2-inch items such as small plain gold rings or 1-inch bean gold so that customers can easily accumulate.
According to Mr. Duy, purchasing power is currently decreasing compared to before because customers are more cautious about spending. "Gold is too high, so customers only buy for a moderate amount of money. Therefore, we make more small products to suit their budget, for example, 1-2 phan plain rings and this type is also selling very well. Some 5-phan products have labor costs due to design and packaging. Especially 1-2 phan plain rings are almost labor-free, to help customers accumulate conveniently and save costs" - Mr. Duy said.
In the context that gold prices still have many potential fluctuations, experts recommend that people closely monitor market developments, avoid the psychology of chasing after crowds.
At about 9:15 am on February 28, in Ho Chi Minh City, the SJC gold bar price was listed by businesses at 184.0 million VND/tael for buying and 187.0 million VND/tael for selling; at Mi Hong it was 184.2 - 187.0 million VND/tael.
The price of gold rings at SJC is at 183.8 - 186.8 million VND/tael (buying - selling); while at Mi Hong it is 184.2 - 187.0 million VND/tael.
