At the end of the recent trading session, the domestic gold market continued to fall deeply. Today (June 5), domestic gold bars decreased by another 2.2 million VND/tael. Compared to the same time last month, domestic gold bar prices decreased by 11.2 million VND/tael in both buying and selling directions.
In the past week, at gold and silver business stores on Cau Giay street (Hanoi), the trading atmosphere has become bustling again. However, all transactions have taken place smoothly, no longer the scene of queuing to buy in. According to information released from the store, the amount of plain round gold rings bought and sold today is based on the actual amount of goods and direct gold payment from 0.5 chi.
Waiting for his turn to transact this morning, Mr. Ngo Quang (Cau Giay ward, Hanoi) - shared: "Today the store is quite crowded but lining up to wait for their turn, not having to wait or stand outside. I see transactions are quite fast, about 30 minutes will be done. Gold prices have dropped sharply in the past week, so if there is a need to buy, I will track the time to deposit money".
According to Mr. Quang, the psychology of buying plain round gold rings is no longer trending like at the end of last year or the beginning of this year. "Like myself, I only buy when I have demand and a pension, not because it's low or high" - Mr. Quang said.
Meanwhile, Mr. Nguyen Cao The (Xuan Phuong ward, Hanoi) - a buyer - said: "Buying gold is like a way to accumulate assets when there is idle money, today it has decreased a lot, so I took the opportunity to buy it. I only bought about 1 tael of gold via bank transfer, so it was quite fast, sitting and waiting, transacting at the automatic machine and receiving the product".
Besides the number of people buying, some people also come to the store to sell according to demand. Ms. Bui Thi Le Chi (Cau Giay ward, Hanoi) came to the store to sell - sharing: "Gold prices have dropped sharply lately, but it still depends on the world, so I don't know if they will continue to decrease or increase again at the end of the year. I bought it when the gold was not pressed, now I have something to sell.
Gold price update
As of 12:00 on June 5, SJC gold bar prices were listed at 150.8 - 153.8 million VND/tael (buying - selling), down 2.2 million VND/tael compared to the previous closing session.
Bao Tin Minh Chau listed SJC gold bar prices at 150.8 - 153.8 million VND/tael (buying - selling), down 2.2 million VND/tael.
At the same time as the survey, the price of SJC plain round gold rings tended to decrease, listed at 150.6 - 153.6 million VND/tael (buying - selling), down 2.4 million VND/tael compared to the closing session yesterday.
Meanwhile, Bao Tin Minh Chau listed the price of gold rings equal to the price of brand gold bars, currently at 151.4 - 154.4 million VND/tael (buying - selling).
On the world market, as of 12:00 on June 5 (Vietnam time), world gold prices had a downward adjustment, listed around the threshold of 4, 446.5 USD/ounce, down 27.9 USD.
