At the end of the recent trading session, the domestic gold market reversed and lowered prices. Today (May 22), plain round gold rings and domestic gold bars slightly decreased by 400,000 VND/tael. Compared to the same time last month, gold prices have decreased by about 7.6 - 8.1 million VND/tael in both directions.
At gold and silver business stores on Cau Giay street (Hanoi), the number of people coming to buy decreased compared to many days before. According to information released from the store, the amount of plain round gold rings bought and sold today is unlimited. The store opens for sale plain round gold rings from 0.5 chi and returns gold directly.
As one of the customers waiting to buy this morning at the store, Ms. Vu Phuong Mai (Lang ward, Hanoi) shared: "When I parked my car outside, I asked the security guard if I had to queue, wait for a long time or not, and was told that it was not too crowded inside, you could buy it right away. I went in and saw about 2 rows waiting for transactions at the ATM".
According to Ms. Mai, the number of people buying is mainly, customers selling are almost non-existent.
Similarly, Mr. Nguyen Khac Tuan (Xuan Phuong ward, Hanoi) - a buyer - said: "I arrived at 9:47 am, and was about 5 people behind when it was my turn to transact. Gold prices are falling, so I'm taking advantage of buying in, unlike previous times when prices were high and I had to queue in large numbers. I plan to buy an additional 5 taels of plain round gold rings to accumulate.
Besides the number of people buying, jewelry items also attract the attention of customers. However, the quite high price makes some people return.
Gold price update
As of 10:50 am on May 22, SJC gold bar prices were listed at 159 - 162 million VND/tael (buying - selling), down 400,000 VND/tael compared to the closing session yesterday.
Bao Tin Minh Chau listed SJC gold bar prices at the threshold of 159.4 - 162.4 million VND/tael (buying - selling), keeping the price range unchanged.
At the same time as the survey, the price of SJC plain round gold rings tended to move sideways, listed at 158.9 - 161.9 million VND/tael (buying - selling).
Bao Tin Minh Chau listed the price of gold rings equal to the price of gold bars, currently at the threshold of 159.4 - 162.4 million VND/tael (buying - selling).
On the world market, as of 10:50 am on May 22 (Vietnam time), world gold prices had a downward adjustment, listed around the threshold of 4,528.4 USD/ounce, down 13.7 USD.
