According to reporters' records at some gold trading stores on Cau Giay street (Hanoi) on August 20, the number of customers coming to transact was quite large. Among them, some people took advantage of buying gold to accumulate, but some customers also considered selling when prices increased.
In many stores, gold is sold in unlimited quantities during the day. However, the time to return gold to customers may vary, depending on the purchase quantity and policies of each store.
Present at the gold shop on Cau Giay street since morning, Mr. Do Huy Cuong (Nghia Do ward, Hanoi) said that he came to buy gold rings with a quantity of 5 chi. To enter the transaction, Mr. Cuong had to queue for about 45 minutes.
Mr. Cuong said that the number of customers coming to buy gold during the day was quite large. "Although I had to wait, I still decided to buy 5 taels of gold rings and the store returned the gold immediately after completing the transaction" - he said.
According to Mr. Cuong, the fact that the store does not limit the quantity sold helps people who need to buy gold more conveniently. With a quantity of 5 chi, he also does not have to wait many days to receive gold.
Meanwhile, waiting for her turn to buy gold, Ms. Bui Thi Phuong (Cau Giay ward) said that she plans to buy 3 taels of gold rings to accumulate.
Ms. Phuong said that although gold prices are increasing, she still decided to buy because she determined that this is a long-term accumulation and has no intention of buying or selling in the short term. According to her, the continuous fluctuation of gold prices makes it difficult to determine which is the lowest time to buy, so when there is a need to accumulate, she still chooses to buy in installments instead of waiting for prices to decrease.
Gold prices are increasing, but I still buy 3 chi because I am determined to save for the long term. If I just wait for the price to decrease before buying, it is also difficult to know when the price will decrease, so when I have money, I buy gradually" - Ms. Phuong shared.
While buyers are still spending money, some people who own gold are facing the choice of whether to sell when prices increase.
Mr. Nguyen Minh Hai (Nghia Do ward) shared that he currently holds about 2 taels of gold rings. Before the sharp increase in gold prices, Mr. Hai is considering between continuing to keep gold or selling a part to take profits.
I have 2 taels of gold rings, if the price increases like this, selling is also profitable, but I am still hesitant because I don't know if the price has peaked yet. Maybe I will sell a part, and keep the rest" - Mr. Hai shared.
Gold price update
As of 9:30 am, Phu Quy listed SJC gold bar prices at the threshold of 143.5-146.5 million VND/tael (buying - selling), an increase of 3.8 million VND/tael in both buying and selling directions compared to yesterday morning.
SJC gold bar price was listed by DOJI at the threshold of 143.5-146.5 million VND/tael (buying - selling), an increase of 3.8 million VND/tael in both buying and selling directions compared to yesterday morning.
At the same time, DOJI Group listed gold ring prices at the threshold of 143.5-147.5 million VND/tael (buying - selling), an increase of 3 million VND/tael in both buying and selling directions compared to yesterday morning.
The price of gold rings was listed by Bao Tin Minh Chau at the threshold of 143.7-147.7 million VND/tael (buying - selling), an increase of 3.5 million VND/tael on the buying side and an increase of 3.6 million VND/tael on the selling side compared to yesterday morning.
At 9:30 am, world gold prices were listed around the threshold of 4,490.5 USD/ounce, up 137.4 USD compared to yesterday morning.
The strong increase of the international market is affecting domestic gold prices. People need to be cautious and avoid chasing the psychology of crowds when gold prices fluctuate strongly, especially in the context that the difference between buying and selling prices is still maintained at a high level.
See more news related to gold prices HERE...
