Gold market today
Recorded by Lao Dong reporters at many gold shops from 9am to 10am on October 16, the domestic price of plain round gold rings and gold bars increased simultaneously. However, the shortage of gold rings and gold bars continues, many places have announced that they are temporarily out of stock.
At a gold shop on Cau Giay Street, Hanoi, the bustling scene of long lines waiting for trading hours is always bustling. At exactly 9am, the store staff announced that the 9999 Thang Long dragon gold rings had no more to sell, and people who needed to queue up to buy silver stayed there.
According to the store's announcement, silver buyers this morning only received appointment papers, the items could not be "held in hand".
Ms. Vu Thi Ha (Hoai Duc, Hanoi) traveled with her husband on a motorbike 20km to the shop but had to turn her car back: "A few months ago, I bought and hoarded more than 10 taels of gold, at that time the purchase price was only over 112 million VND/tael, at one point I bought just over 90 million VND/tael. At that time, the shop announced that it would only order, after 20 days to get it, today I plan to buy more gold but it sounds unlikely".
As for Ms. Bui Thi Chon (My Dinh, Hanoi), the journey to buy gold is difficult from day to day. Ms. Chon shared: "Yesterday morning I arrived at 8:30 am, but the store still didn't sell until 10 am, so I had to go home. In the afternoon, people told each other that the store would issue 200 coupons from 2pm. I went out at 3pm and had announced all the coupons, and tried to sit and wait for another 3 hours but still couldn't sell".
Ms. Chon decided to spend the whole day waiting to own 1-2 taels of gold. After many days at a gold shop on Cau Giay Street, Ms. Chon noticed that people were gradually switching to buying townhouses and waving their hands to hold their property.
Continued to be noted on gold shops on Tran Nhan Tong Street, Hanoi, this street is always congested. Mr. Vu Minh (Gia Lam, Hanoi) has been unable to buy gold after 3 days of traveling: "Yesterday afternoon, people here were not lining up but now they continue to queue. The number of people in the store who are trading is buying gold jewelry or selling, but if they come to buy, there are almost no".
Mr. Vu Minh said: "People are lining up and not sure if they have gold to buy, they have also taken the same number since morning".
Ms. Nga (Hai Ba Trung, Hanoi) shared her experience in "hunting for gold": "Today I definitely have to buy 1 more tael to round 50 taels (equivalent to 5 taels of gold). In August, I bought 7 taels a week, every day I had a day off I only used it to queue up to buy, in September, I bought 5 taels a week to gradually accumulate".
Gold price update
As of 11:00 on October 16, the price of SJC gold bars was listed at 147.1 - 149.1 million VND/tael (buy - sell), all increasing by 1.1 million VND/tael compared to the previous session.
Bao Tin Minh Chau listed the price of gold bars at 151-154 million VND/tael (buy - sell), unchanged compared to the previous session's closing price.
At the same time of the survey, SJC listed the price of plain round gold rings at 145.9 - 148.1 million VND/tael (buy - sell), an increase of 1.7 million VND/tael in both directions.
Bao Tin Minh Chau listed the price of gold rings at 151-154 million VND/tael (buy - sell), unchanged compared to the previous session's closing price.
On the world market, as of 11:00 a.m. on October 16 (Vietnam time), the world gold price reversed and decreased, listed around 4,232.9 USD/ounce, up 25.7 USD.
