Gold prices suddenly fall, many people flock to buy at low prices

Hạ Linh - Phan Anh |

On January 22, domestic gold prices "cooled down". Stores limited the quantity of purchases, customers bought and sold bustlingly.

According to Lao Dong reporters' records this morning (January 22), the price of plain round gold rings and domestic gold bars has a downward adjustment. At gold shops in Hanoi, many people have come to queue very early, and the number of people in need of buying has increased sharply.

At a gold business on Hoang Cau street (Hanoi), despite the freezing weather, many people came from 6 am hoping to "surely" bring gold home.

Bat chap thoi tiet gia ret, nhieu nguoi san sang den cac cua hang vang tu som de chac suat cam vang tren tay. Anh: Phan Anh
Despite the freezing weather, many people are willing to go to gold shops early to secure a spot to hold gold in their hands. Photo: Phan Anh

Mr. Bui Minh Tuan (O Cho Dua ward, Hanoi) did not hesitate to come in from 6:30 am to buy - said: "Yesterday gold was very high, today there is a downward trend, so I have to take advantage of going early to buy. In recent days, gold has fluctuated strongly, I did not buy much, but if I adjust down, I will try to queue to buy and save.

At another gold shop on Cau Giay street (Hanoi), the long queue waiting to buy surpasses the number of people who need to sell to take profits.

According to information released from the store, customers are allowed to transact to buy a maximum of 5 taels of plain round gold rings. With a quantity of less than 1 tael of gold, customers are allowed to receive the product directly, with greater purchase demand, they will receive a appointment slip.

Many people like Ms. Minh Ha (Xuan Phuong ward, Hanoi) - feeling surprised by the number of people waiting at the store - shared: "I asked for permission to go out for 1 hour, but now there are still 10 rows below and 4 rows, the number of people is too large, it is highly likely that transactions will not be allowed until early afternoon. I intend to ask relatives to wait until 12 pm to return because there is still work that cannot be given up.

Similarly, Ms. Phung Thi Thuy (Cau Giay, Hanoi) who came to the store yesterday afternoon but was not allowed to transact - said: "According to my experience, I usually go in the afternoon because there are fewer people, but by 3 pm yesterday afternoon the store announced it would stop receiving customers because there were still a number of buyers coming in from the morning. This morning I had to come back at more than 10 am but I didn't expect everyone to come so early and crowded.

Meanwhile, many people accepted to leave because they were worried that after many hours of waiting, the store would announce it was out of stock. Mr. Do Cong Thang (Tay Ho ward, Hanoi) turned his head to leave after more than 20 minutes of waiting.

The store staff also told everyone at this facility to come very early, I arrived around 10 am, the number reached about 300 people. Tomorrow morning I will arrange to come out early, now waiting is a waste of time" - Mr. Thang said.

Tinh den 10h30, phong ngoi cho cua mot tiem vang tren duong Cau Giay, Ha Noi van chat kin. Anh: Ha Linh
As of 10:30 am, the waiting room of a gold shop on Cau Giay street, Hanoi is still crowded when gold prices have a downward adjustment. Photo: Ha Linh

Gold price update

As of 11:10 am on January 22, the listed SJC gold bar price was 166.7-168.7 million VND/tael (buying - selling), reversing to decrease by 1.8 million VND/tael.

Bao Tin Minh Chau listed SJC gold bar prices at 166.7-168.7 million VND/tael (buying - selling), simultaneously down 1.8 million VND/tael.

At the same time as the survey, SJC listed the price of plain round gold rings at the threshold of 164.6-167.1 million VND/tael (buying - selling), both down 1.3 million VND/tael.

Bao Tin Minh Chau listed the price of gold rings at 166-169 million VND/tael (buying - selling).

On the world market, as of 11:12 am on January 22 (Vietnam time), world gold prices had a high increase, listed around the threshold of 4,798.9 USD/ounce, down 32.5 USD.

Hạ Linh - Phan Anh
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