At the end of the recent trading session, the domestic gold market suddenly rebounded after a series of price reductions. This morning (May 6), plain round gold rings and domestic gold bars increased in price. This increase has narrowed the gap compared to the same time last month, causing gold bars and gold rings to decrease by about 5.6 million VND/tael in both buying and selling directions.
At the gold business store on Cau Giay street (Hanoi), the gold shop is bustling in both directions compared to the beginning of the week. According to information released from the store, the quantity of plain round gold rings sold today is unlimited. The store will return gold according to customer needs.
As one of the customers who came to the gold shop to transact in the afternoon to buy this morning, Ms. P.M. H (Lang ward, Hanoi) shared: "I didn't go early because the gold shop no longer has to queue as long as in previous months. However, today I arrived at 10 am, in the afternoon when buying, I was instructed to go to the 2nd floor to wait. My turn will be to go down to the 1st floor to transact and pay".
According to Ms. H, buying at a time of price fluctuations is only for accumulating assets, not for buying "surfing" to earn a difference.
Sharing the same psychology, Mr. V.V.C (Nghia Do ward, Hanoi) - a customer who bought plain round gold rings - said: "At the beginning of the week, I passed by the store and saw that it was not too crowded, completely different from today. I participated in groups to update the buying and selling situation at the stores. This morning the store was crowded on both floors, not only buyers but also people waiting to sell.
Besides plain round gold rings, some people come to the store with the need to buy jewelry. Ms. B.H. H (Cau Giay ward, Hanoi) said: "I go to branded gold stores to buy necklaces for my grandchild's wedding. I go both to consider reasonable prices and to see the designs, which side is superior will buy".
In the opposite direction, the waiting area for selling is also bustling. As of 10:07 am, customers coming to sell received a queue number 150. However, the transaction time does not take much time. Mr. V.D. T (Yen Hoa ward, Hanoi) informed: "When I entered the store, the staff asked if I needed to buy or sell. If selling is outside or from the store itself. Although my queue number is 150, because I sell products of the store, I am allowed to enter the transaction area immediately".
Gold price update
As of 11:05 AM on May 6th, SJC gold bar prices were listed at 163-166 million VND/tael (buying - selling), simultaneously increasing by 1 million VND/tael.
Bao Tin Minh Chau listed SJC gold bar prices at the threshold of 164.5-167.5 million VND/tael (buying - selling), an increase of 2.5 million VND/tael in both directions.
At the same time as the survey, the price of SJC plain round gold rings tended to increase, listed at 162.5-165.5 million VND/tael (buying - selling).
Bao Tin Minh Chau listed the price of gold rings equal to the price of gold bars, currently at the threshold of 164.5-167.5 million VND/tael (buying - selling), an increase of 2.5 million VND/tael in both buying and selling directions.
In the world market, as of 11:13 am on May 6 (Vietnam time), world gold prices had a sharp upward correction, listed around the threshold of 4,645.5 USD/ounce, up 88.9 USD.
