Gold prices surge, people line up to buy, people hesitate to take profits

Lao Dong reporter's record on February 7, domestic plain round gold ring prices rose sharply.

At some gold shops on Tran Nhan Tong street (Hanoi), the demand for buying gold rings from people is increasing. Gold shops are bustling with people waiting for transactions.

Present at a gold shop on Tran Nhan Tong street, Ms. Ngo Thi Phuong (Hai Ba Trung ward, Hanoi) said that she came to buy gold rings for the purpose of saving assets.

According to Ms. Phuong, in previous days, the store usually sold gold rings in limited quantities, only a maximum of 1 - 2 chi per person. Today alone, the store sells a maximum of 5 taels per person and promises to pay later depending on the amount of gold rings customers buy.

I plan to buy 1 tael of gold rings. I asked the staff and was informed that if I buy 1 tael, I will receive gold in March 2026" - Ms. Phuong said.

Also present at the gold shop on Tran Nhan Tong street, Mr. Do Tuan Anh (Vinh Thanh commune, Hanoi) said that he had just bought 3 taels of gold after queuing to wait.

According to Mr. Tuan Anh, in recent days, buying gold has faced many difficulties due to increased demand while the supply for sale is still limited. Many stores limit the quantity of gold rings and do not have gold bars.

Today, the store sells a maximum of 5 taels of gold rings per customer, but the return depends on the number of customers who order. For transactions from 1 tael or less, customers receive gold immediately, and if they buy more, they have to wait more than 1 month.

Recently, there have been quite a few services that accept queuing for others, but I still prefer to queue myself to be proactive, because I am also worried that asking for help from others is not certain" - Mr. Tuan Anh shared.

While many people waited to buy, many people hesitated to sell to take profits when gold prices rebounded.

Sharing with Lao Dong reporter, Ms. Nguyen Hai Yen (Bach Mai ward, Hanoi) said that she is considering between continuing to hold or closing profits in part.

The sharp drop in gold prices last week makes me worried that the downward trend will continue. However, now that gold prices have increased, I am considering the possibility of selling 1-2 taels out of the total 3 taels of gold purchased from the beginning of 2025 to preserve profits" - Ms. Yen said.

Gold price update

As of 11:10 am, SJC gold bar prices were listed by DOJI Group at the threshold of 176.3 - 179.3 million VND/tael (buying - selling), an increase of 7.1 million VND/tael in both buying and selling directions compared to yesterday morning. The difference between buying and selling prices is at the threshold of 3 million VND/tael.

SJC gold bar price was listed by Bao Tin Minh Chau at the threshold of 176.3 - 179.3 million VND/tael (buying - selling), an increase of 7.1 million VND/tael in both buying and selling directions. The difference between buying and selling prices is at the threshold of 3 million VND/tael.

At the same time, DOJI Group listed the price of gold rings at 176 - 179 million VND/tael (buying - selling), an increase of 7 million VND/tael in both directions compared to the previous day. The buying - selling difference is at 3 million VND/tael.

Bao Tin Minh Chau listed gold ring prices at the threshold of 176.3 - 179.3 million VND/tael (buying - selling), an increase of 7.1 million VND/tael in both buying and selling directions. The difference between buying and selling prices is at the threshold of 3 million VND/tael.

At 9:08 am, world gold prices were listed around the threshold of 4,966 USD/ounce, a sharp increase of 168.2 USD compared to the previous day.