Gold prices fall, many people take advantage of spending money to buy in

Domestic gold prices fell sharply in the trading session on June 20, attracting many people to gold shops on Tran Nhan Tong street (Hai Ba Trung ward, Hanoi) to trade.

Although there is no longer a scene of customers queuing to wait for transactions like in previous peak periods, many gold shops on Tran Nhan Tong street still recorded an increase in the number of customers buying in the context of sharply decreasing gold prices. Many people said they have taken advantage of spending money to accumulate for the long term.

At a large gold store on Tran Nhan Tong street, the transaction area is quite bustling. People line up waiting for their turn. According to store staff, the number of customers buying gold in the morning accounts for a significantly larger proportion than the selling customers.

Having just completed the gold purchase transaction, Ms. Bui Thi Tra (Hoan Kiem ward, Hanoi) said that she had bought 5 taels of gold rings to accumulate for her family.

I came to the store from about 9 am. Customers are not too crowded but still have to wait a while for their turn. The total transaction time is about 20 minutes to receive gold" - Ms. Tra said.

Ms. Tra shared that about a month ago, she intended to buy gold, but the price continuously increased, so she was still hesitant.

In recent days, seeing the price drop quite sharply, I decided to buy 5 chi immediately. I paid and received gold immediately. I do not expect to surf for profit in the short term but determine to save for the future. For me, gold is still a safe asset accumulation channel" - Ms. Tra said.

According to Ms. Tra, the money to buy gold this time was saved by her family from her monthly income. She plans that if the price continues to adjust, she will continue to buy more in the near future.

Not far away, Mr. Pham The Anh (Bach Mai ward, Hanoi) also just received gold after completing payment procedures. He said he bought 1 tael of gold rings on the morning of June 20.

I monitor gold prices every day. At the time when the price is highest, I don't dare to buy because I'm afraid of risks. Now the price has decreased quite a lot, so I decided to spend money" - Mr. The Anh said.

He said that his family is planning long-term financial accumulation to prepare for his child to go to university in the next few years. Therefore, instead of depositing all his savings in the bank, he spent a portion to buy gold.

Buying 1 tael is not a large quantity but is a gradual accumulation. When I have the conditions, I will buy more. The important thing is to buy at a price that I feel is reasonable" - he said.

Gold price update

As of 11:05 am, SJC gold bar prices were listed by DOJI Group at the threshold of 144.2-147.2 million VND/tael (buying - selling), down 600,000 VND/tael in both buying and selling directions compared to yesterday morning.

Bao Tin Minh Chau listed SJC gold bar prices at 143.7-147 million VND/tael (buying - selling), down 1.1 million VND/tael on the buying side and down 800,000 VND/tael on the selling side compared to yesterday morning.

At the same time, DOJI Group listed the price of gold rings at the threshold of 144.2-47.2 million VND/tael (buying - selling), down 600,000 VND/tael in both buying and selling directions compared to yesterday morning.

Bao Tin Minh Chau listed the price of gold rings at 143.7-147 million VND/tael (buying - selling), down 1.1 million VND/tael on the buying side and down 800,000 VND/tael on the selling side.

At 9:05 am, world gold prices were listed around the threshold of 4,154.7 USD/ounce, down 30.2 USD compared to the previous day.