Gold ring price is high, can't buy 1 tael everywhere

In recent trading sessions, stores have stopped selling, or sold very small amounts of 9999 smooth round gold rings, making it difficult to own this item.

According to Lao Dong reporters' records on October 13 and 14 on Tran Nhan Tong Street (Hai Ba Trung, Hanoi), although the price of plain round gold rings has increased, many people still go to stores to buy them.

The store only sells a small amount of gold rings each day and does not announce opening hours in advance, causing many people in need to go everywhere to find them.

Having not been able to buy any gold rings for many days, Mr. Pham The Huy (Dong Da, Hanoi) shared: "I don't know exactly when the stores open for selling rings, so I always miss out. Some days I come too early and they haven't sold yet. Like today, I came when the store had just sold out."

Mr. Huy said that although gold rings are difficult to buy at this time, he will still try to wait to buy them.

As for Ms. Nguyen Quynh Anh (Hai Ba Trung, Hanoi) - last week she bought 5 taels of gold rings - now she continues to wait to hunt for more.

"My friends invited me to buy more gold rings, so I went to the gold shops to continue hunting. I haven't been able to buy anything yet. I've been to three shops but still haven't been able to buy anything. Next day, I'll try to go early to line up to buy more, to store or when I have the chance, to sell for profit."

Sharing with Lao Dong reporter, an employee at a gold shop on Tran Nhan Tong street said: "Today the shop has sold about 5 rounds of gold rings but the number of customers coming to buy is still very large.

The constant announcement that the rings are out of stock when people come to buy makes us very concerned, however, this is the store's policy, there's nothing more we can do."

At a gold shop in Cau Giay (Hanoi), after many times not being able to buy gold rings, Ms. Pham Kieu Chi - disappointed: "For many weeks now, people have been queuing so long that I have not been able to buy any gold rings. In the past few days, the price of gold has been going up and down, I thought there would be less queuing so I decided to come and buy.

However, before we could even get onto the sidewalk, the security guard announced that the rings had long since run out. They also said that only those whose names were on the ticket list were left in the store waiting to get the rings, and those who were in line and couldn't get a number had all left.

Experts say that speculating and hoarding gold is not beneficial to the economy. Rushing to buy gold when the price difference is too high will cause buyers to lose money in the short term. Currently, the difference between buying and selling SJC gold bars is up to 2 million VND/tael. Meanwhile, the difference between plain gold rings is around 900,000 VND/tael.