Gold prices plummet, many people wait for hours to buy 1 tael of gold ring

Queuing to buy gold rings

In recent trading sessions, most stores have stopped selling, or sold very small quantities of 9999 plain round gold rings. Therefore, owning this item becomes difficult.

According to Lao Dong reporters' records today (February 5th), although the price of plain round gold rings has dropped sharply, many people still come to business stores to hunt for them.

At a gold business store on Tran Nhan Tong street (Hanoi), Mr. Truong Hai Nam (Phuc Thinh commune, Hanoi) said that the store is selling a maximum of 1 tael of gold rings per person. However, he has been queuing for more than 1 hour and it is still not his turn to transact.

I have been queuing for more than 1 hour, waiting to buy 1 tael of gold rings. Whether the store returns the goods immediately or not depends on the quantity purchased by each customer. For example, if customers buy more than 5 taels, they are scheduled to return the goods on March 8, if they buy from 5 taels or less, they will be received immediately" - Mr. Nam said.

Also on Tran Nhan Tong street, Ms. Phan Linh Nhi (Hai Ba Trung ward, Hanoi) said that at the beginning of the week she bought 1 tael of gold rings and was scheduled by the store to pick up goods on March 6. On February 5, she continued to return to wait to buy more.

According to Ms. Nhi, buying gold recently has faced many difficulties due to limited supply. At times, the store only sells very small quantities to each customer, even on days it announces that there are no more goods.

Demand is high, people who want to buy gold have to queue to wait for transactions, instead of being able to buy immediately as before. My store also stipulates that each customer can only buy it back after at least 2 days from the previous transaction" - Ms. Nhi said.

Ms. Nhi added that today, each customer is allowed to buy a maximum of 1 tael of gold. However, due to the large number of people waiting to buy, she still has to wait for her turn to transact.

Gold price update

As of 12:15 PM, SJC gold bar prices were listed by DOJI Group at the threshold of 173-176 million VND/tael (buying - selling), down 4.2 million VND/tael in both buying and selling directions compared to yesterday morning. The difference between buying and selling prices is at the threshold of 3 million VND/tael.

SJC gold bar prices were listed by Bao Tin Minh Chau at the threshold of 173-176 million VND/tael (buying - selling), down 4.2 million VND/tael in both buying and selling directions. The difference between buying and selling prices is at the threshold of 3 million VND/tael.

At the same time, DOJI Group listed the price of gold rings at the threshold of 172.5-175.5 million VND/tael (buying - selling). The buying - selling difference is at 3 million VND/tael.

Bao Tin Minh Chau listed the price of gold rings at the threshold of 173.8-176.8 million VND/tael (buying - selling). The buying - selling difference is at 3 million VND/tael.

At 12:25 PM, world gold prices were listed around the threshold of 4,853 USD/ounce.