Gold prices rise sharply, stores are bustling with traders trading on the weekend

Linh Đan |

Gold prices increased sharply again at the end of the week, causing many people in Hanoi to go to gold stores to buy, accepting to queue to wait for transactions.

After a downward adjustment in the middle of the week, domestic gold prices increased sharply again at the end of the week, leading to a significant increase in the number of customers coming to trade at gold shops on Tran Nhan Tong street (Hai Ba Trung ward, Hanoi).

Reporters' records on June 13 show that the trading atmosphere at some gold shops on this street is quite bustling. Many customers line up waiting for their turn to buy gold rings.

According to the store's announcement, currently each customer is only allowed to make one purchase transaction per day. However, gold supply is still sold in actual quantities and customers receive gold immediately after completing the procedures.

Người dân xếp hàng chờ giao dịch tại cửa hàng vàng ở Hà Nội bất chấp giá đang tăng cao. Ảnh: Linh Đan
People line up to transact at gold shops in Hanoi despite rising prices. Photo: Linh Dan

Mr. Nguyen Quang Huy (Bach Mai ward, Hanoi) said that he had just completed a transaction to buy 3 taels of gold rings after nearly an hour of waiting.

I follow gold prices quite often. A few days ago, I saw prices fall, but I was still hesitant because I thought they might fall further. Today the price has increased again, so I decided to spend money to buy 3 taels of gold rings to accumulate" - Mr. Huy shared.

According to Mr. Huy, although gold prices are at a high level, he still chooses to buy because he is worried that prices may continue to increase in the near future.

Meanwhile, Ms. Nguyen Thu Hoai (Hai Ba Trung ward, Hanoi) is still waiting for her turn to transact - sharing: "I came from the beginning of the morning but there are quite a few customers, so I still have to wait. Today I plan to buy 2 taels of gold rings to save money".

According to Ms. Hoai, the developments of the gold market in recent days have surprised her quite a bit.

Last weekend I also passed by here but found it quite deserted. By the middle of this week, the price dropped to around 13.8 million VND/chi, but I had not had time to buy. Today the price has increased again but customers are much more crowded, many people have to queue to wait for their turn to transact" - Ms. Hoai said.

Ms. Hoai added that the store will return gold immediately after purchase to help customers feel more secure in the transaction process.

Lượng khách đến mua vàng tăng trở lại tại cửa hàng trên phố Trần Nhân Tông. Ảnh: Linh Đan
The number of customers coming to buy gold has increased again at the store on Tran Nhan Tong street. Photo: Linh Dan

Also waiting for his turn to transact, Mr. Nguyen Van Nam (Hoan Kiem ward, Hanoi) said that he came to the store with the intention of buying both gold bars and gold rings to accumulate. However, according to the announcement of the staff, the store currently only has gold rings left, so he decided to wait to buy 3 chi.

Initially, I intended to buy both gold bars and gold rings, but today the store only has gold rings left. A few days ago, I also followed the price but could not arrange the time. I was only free at the weekend, so I took advantage of the transaction. Today there are quite a few customers, I think I have to wait a long time for my turn" - Mr. Nam shared.

Gold price update

As of 10:30 am, SJC gold bar prices were listed by DOJI Group at 144-147 million VND/tael (buying - selling), an increase of 7.6 million VND/tael in the buying direction and an increase of 5.6 million VND/tael in the selling direction compared to yesterday morning.

Diễn biến giá vàng SJC những phiên giao dịch gần đây. Biểu đồ: Khương Duy
SJC gold price movements in recent trading sessions. Chart: Khuong Duy

Bao Tin Minh Chau listed SJC gold bar prices at 144-147 million VND/tael (buying - selling), an increase of 6.2 million VND/tael on the buying side and an increase of 4.2 million VND/tael on the selling side compared to yesterday morning.

At the same time, Phu Quy Gold and Gems Group listed the price of gold rings at the threshold of 143.8-146.8 million VND/tael (buying - selling), an increase of 5.9 million VND/tael on the buying side and an increase of 4.4 million VND/tael on the selling side compared to yesterday morning.

Diễn biến giá vàng nhẫn những phiên giao dịch gần đây. Biểu đồ: Khương Duy
Gold ring price movements in recent trading sessions. Chart: Khuong Duy

Bao Tin Minh Chau listed gold ring prices at 144-147 million VND/tael (buying - selling), an increase of 6.2 million VND/tael on the buying side and an increase of 4.2 million VND/tael on the selling side.

At 9:17 am, world gold prices were listed around the threshold of 4,211.3 USD/ounce, up 26.4 USD compared to the previous day.

The strong increase of the international market is affecting domestic gold prices. People need to be cautious and avoid chasing the psychology of crowds when gold prices fluctuate strongly, especially in the context that the difference between buying and selling prices is still maintained at a high level.

See more news related to gold prices HERE...

Linh Đan
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