At the end of the trading session last week, the domestic gold market reversed to decrease after a series of days of price stagnation. This morning (May 11), plain round gold rings and domestic gold bars decreased sharply. This decrease further widened the gap compared to the same time last month by about 6.5 million VND/tael in both buying and selling directions.
At a gold business store on Cau Giay street (Hanoi), the gold shop is bustling in the buying direction. According to information released from the store, the quantity of plain round gold rings bought and sold today is unlimited. The store will return gold and money according to customer needs.
As one of the customers who came to the gold store to trade in the afternoon to buy this morning, Ms. P.N. T. M (Hoang Mai ward, Hanoi) shared: "This morning, I had business passing through this route, so I went to the store to check the products. I intended to buy jewelry gold to give to my sister-in-law, but this morning plain round gold rings decreased sharply, so I changed direction.
According to Ms. M, the first morning of the week is usually not too crowded, so she arranges and tracks the time to facilitate work.
Sharing the same psychology, Mr. V.T. H (Lang ward, Hanoi) - a customer who bought plain round gold rings - said: "The number of buyers is still large, on days when prices are high, there are fewer people, but most of them have to sit and wait. I went to the store staff and told them to sit and wait in the row of seats immediately because I was afraid of being crowded. I took the invoice at the automatic payment machine, then went inside to get gold and pay for the transaction.
Besides plain round gold rings, some people come to the store with the need to buy jewelry. Ms. N.T. P (Cau Giay ward, Hanoi) said: "I am old, so if my children and grandchildren get married, I want to give each child a little bit, today I went to see the designs for comparison".
In the opposite direction, the waiting area for selling is sparse, only about 1-2 people waiting. Ms. V.T. T (Yen Hoa ward, Hanoi) informed: "I want to sell about 2 taels of gold to add capital to buy a house for my child. Today the selling is quite favorable, you don't have to wait long.
Gold price update
As of 12:36 PM on May 11, SJC gold bar prices were listed at the level of 162.9-165.9 million VND/tael (buying - selling), simultaneously decreasing by 1.6 million VND/tael.
Bao Tin Minh Chau listed SJC gold bar prices at 163.4-16.64 million VND/tael (buying - selling), down 1.1 million VND/tael in both directions.
At the same time as the survey, the price of SJC plain round gold rings tended to decrease, listed at the threshold of 162.4-165.4 million VND/tael (buying - selling), down 1.2 million VND/tael.
Bao Tin Minh Chau listed the price of gold rings equal to the price of gold bars, currently at 163.4-16.64 million VND/tael (buying - selling), down 1.1 million VND/tael.
On the world market, as of 12:44 on May 11 (Vietnam time), world gold prices had a downward adjustment, listed around the threshold of 4, 671.9 USD/ounce, down 49.2 USD.
