Gold prices plummet, people rush to buy, people anxiously sell

On the morning of July 7, reporters recorded at Tran Nhan Tong street (Hai Ba Trung ward, Hanoi), the atmosphere of gold trading was quite quiet. At many gold trading stores, the number of customers coming to buy and sell was not large, at many times only a few people were waiting for transactions.

According to observations, the transaction counter area does not experience queuing or overload like in previous periods of strong gold price fluctuations. Customers come to the store mainly to ask for prices, refer to market developments and then decide whether to trade or not.

Waiting to buy gold rings at a store on Tran Nhan Tong street, Ms. Tran Thi Thuy (Bach Mai ward) said that today she took the opportunity to buy a few gold rings to accumulate.

I have been monitoring prices for the past few days and saw an adjustment, so I came to buy. Today the store is quite empty, not having to queue for as long as before. What I am assured of is that the store is selling unlimited quantities and has gold for immediate delivery, without having to register in advance or wait many days like some times before.

I only bought 2 taels of plain round gold rings because I still want to follow more market developments" - Ms. Thuy shared.

Having just completed the transaction to buy 3 gold rings, Mr. Bui Van Dung (Hoan Kiem ward, Hanoi) said that he decided to buy gold this time to accumulate for a long time, instead of short-term investment according to price fluctuations.

I bought it to accumulate, so I don't pay too much attention to short-term fluctuations. Today the store is quite empty, procedures are quick, and there is spot gold and unlimited quantity, so I decided to buy it right away" - Mr. Dung shared.

In the opposite direction, Mr. Le Van Phuc (Hai Ba Trung ward, Hanoi) brought 1 tael of gold rings bought from November 2024 to the store, but after looking at the price list, he still decided not to sell.

I also plan to sell because the current price is already higher than when I bought. But the market is still volatile, so I am still hesitant. I am afraid that after selling, the price will increase again, and if I keep it, I am also worried about price adjustment, so today I decided to wait longer" - Mr. Phuc shared.

Gold price update

As of 10:00 AM, Phu Quy Jewelry Group listed SJC gold bar prices at 147-150.5 million VND/tael (buying - selling), down 1 million VND/tael on the buying side and down 900,000 VND/tael on the selling side compared to yesterday morning.

At the same time, SJC gold bar prices were listed by DOJI Group at the threshold of 147.5-150.5 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 147.4-150.4 million VND/tael (buying - selling), down 1 million VND/tael in both buying and selling directions compared to yesterday morning.

Bao Tin Minh Chau listed gold ring prices at the threshold of 146.5-150 million VND/tael (buying - selling), down 1 million 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 4,142.4 USD/ounce, down 34 USD/ounce.