Gold ring prices plummet, some take advantage of buying, some hesitate to sell

Domestic gold prices continue to adjust sharply down in recent days, dragging down the opposite psychology of people. While some people take advantage of spending money with the expectation that prices will recover soon, many people holding gold are wondering between selling to take profits or continuing to wait.

Recorded by reporters on the morning of June 6, at Tran Nhan Tong gold street (Hai Ba Trung ward, Hanoi), transaction activities took place stably. The number of customers coming to stores was not too large, and there was no scene of long queues like in previous strong fluctuations.

At some gold trading stores on this street, staff said that trading is still taking place normally. Gold sellers sell gold in actual quantities at the store and buyers can receive gold immediately after the transaction is completed.

Waiting for her turn to transact at a store on Tran Nhan Tong street, Ms. Nguyen Ngoc Ha (Hoan Kiem ward, Hanoi) said that this is the time she decided to buy more gold after many days of monitoring the market.

I just completed the transaction to buy 1 tael of gold rings and was returned immediately. I saw that gold prices had dropped quite deeply compared to a few weeks ago, so I rushed to buy. I don't expect short-term surfing but determine to keep it for a long time, so these adjustments are an opportunity to buy in" - Ms. Ha shared.

According to Ms. Ha, although gold prices may still fluctuate in the short term, in the long term, precious metals are still a source of wealth accumulation chosen by many families.

Sharing the same buying mentality, Mr. Do Van Phuc (living in Cua Nam ward, Hanoi) said that he has prepared a sum of money to wait for the opportunity to disburse when gold prices adjust.

I monitor the market quite often. When the price increased sharply, I did not dare to buy because I was worried about risks. Now the price has decreased significantly, so I decided to buy 4 taels of gold rings. I chose to buy 2 positions, each position equivalent to 2 taels of gold. If the price continues to decrease, I will consider buying more" - Mr. Phuc said.

Mr. Phuc believes that dividing the amount of money to buy in installments will help reduce psychological pressure and limit risks in the face of unpredictable market fluctuations.

Contrary to the psychology of buyers, Mr. Le Van Hung (Hai Ba Trung ward, Hanoi) brought gold to the store with the intention of selling it. However, after consulting the price, he has not yet made a final decision.

I bought 9 taels of gold from mid-2024, so I am still profitable. But looking at the price fluctuations continuously in recent days, I am also hesitant whether to sell immediately or continue to keep it. If I sell, I am afraid that the price will increase again later, and if I keep it, I am worried that the price will decrease further" - Mr. Hung shared.

According to Mr. Hung, many of his relatives are also in a similar situation when the market continuously fluctuates strongly in a short period of time.

Gold price update

As of 11:10 am, SJC gold bar prices were listed by DOJI Group at the threshold of 146.2-150.2 million VND/tael (buying - selling), down 6.2 million VND/tael on the buying side and down 5.2 million VND/tael on the selling side compared to yesterday morning.

Bao Tin Minh Chau listed SJC gold bar prices at the threshold of 146.2-150.2 million VND/tael (buying - selling), down 6.2 million VND/tael for buying and down 5.2 million VND/tael for selling compared to yesterday morning.

At the same time, DOJI Group listed the price of gold rings at the threshold of 146.2-150.2 million VND/tael (buying - selling), down 6.2 million VND/tael for buying and down 5.2 million VND/tael for selling compared to yesterday morning.

Bao Tin Minh Chau listed the price of gold rings at the threshold of 146.2-150.2 million VND/tael (buying - selling), down 6.2 million VND/tael for buying and down 5.2 million VND/tael for selling compared to yesterday morning.

At 10:00 AM, world gold prices were listed around the threshold of 4, 438.9 USD/ounce, down 26.4 USD compared to the previous day.