In recent days, the domestic gold market has recorded a strong downward trend, dragging down the opposite psychology of people in Hanoi. Some people take advantage of buying when prices adjust, while many people are hesitant and do not want to sell out because they are worried that prices may recover.
Recorded on May 23 at some gold shops on Tran Nhan Tong street (Hai Ba Trung ward), the area considered the "gold street" of Hanoi, the number of customers coming to transact has decreased compared to previous times.
Sharing with reporters, Ms. Nguyen Thi Nhu (Hai Ba Trung ward, Hanoi) said that her store, which she visited to buy this morning, sells gold in quantities according to customer demand and returns it immediately. Ms. Nhu added that she had followed market developments before deciding to buy 3 taels of gold rings.
The price of gold rings decreased quite sharply compared to last week, so I took the opportunity to buy more. I don't dare to buy much, just consider it as gradual accumulation. I think in the long term gold still tends to increase, so when it decreases, buying will be more reasonable" - Ms. Nhu shared.
According to her, buying gold today is mainly for savings purposes. However, she is still quite cautious: "I am not in a hurry to buy much, because I want to see the trend for next week more clearly".
Similarly, Mr. Do Van Kien (Bach Mai ward) also chose the time when prices decreased to buy 2 taels of gold rings. According to Mr. Kien, the number of customers at the store this morning was not too large, so the transaction took place quite quickly, without having to wait as long as previous hot gold price increases.
Recently, I have seen prices adjust, so I take advantage of buying a little more to accumulate gradually. I do not put much emphasis on price ups and downs in the short term, mainly buying in small batches for safety" - Mr. Kien said.
In the opposite direction, many people holding gold are hesitant, not wanting to sell even though they have made a slight profit compared to the time of previous purchase.
At a store on Tran Nhan Tong street, Ms. Le Thi Hong (Hoan Kiem ward) said that she bought 1 tael of gold from the beginning of 2025 and today took the opportunity to ask for the price before making a decision.
I see the price has dropped, so it's a bit regrettable. If I sell now, there will still be profits. But maybe I'll wait and see if there will be a recovery in a few days before considering it" - Ms. Hong said.
Gold price update
As of 12:20 PM, SJC gold bar prices were listed by DOJI Group at 158.5-161.5 million VND/tael (buying - selling), down 900,000 VND/tael in both buying and selling directions compared to yesterday morning.
Bao Tin Minh Chau listed SJC gold bar prices at 158.5-161.5 million VND/tael (buying - selling), down 900,000 VND/tael in both buying and selling directions compared to yesterday morning.
At the same time, DOJI Group listed the price of gold rings at 158.5-161.5 million VND/tael (buying - selling), down 900,000 VND/tael in both buying and selling directions.
Phu Quy Gold and Gems Group listed the price of gold rings at 158.5-161.5 million VND/tael (buying - selling), down 900,000 VND/tael in both buying and selling directions compared to yesterday morning.
At 9:00 AM, world gold prices were listed around the threshold of 4,508.5 USD/ounce, down 15 USD compared to the previous day.
See more news related to gold prices HERE...
