Domestic gold prices drop sharply, people anxiously wait to buy

Phương Anh | 12/05/2025 11:43

On May 12, domestic gold prices fell sharply. In Hanoi, many people continue to flock to stores to buy.

Recorded by Lao Dong reporter at 9:00 a.m. on May 12, the price of plain round gold rings and domestic gold bars decreased sharply.

At some gold shops on Tran Nhan Tong Street (Hanoi), people's demand for gold rings is increasing. Many people are willing to wait for hours to buy gold rings.

Sang 12.5, nhieu nguoi den cua hang vang bac da quy tai Ha Noi de mua vang nhan. Anh: Phuong Anh — On the morning of May 12, many people came to a jewelry store in Hanoi to buy gold rings. Photo: Phuong Anh

Mr. Nguyen Huu Dang (Hoan Kiem District, Hanoi) - a customer waiting to buy gold rings - shared that he was present since 8am, but until now, although the store has opened, he has not announced the number of rings sold to each person.

In recent days, each customer who comes to the store has often only been able to buy a maximum of 1 to 2 taels of gold rings per day. Today, it is not clear how much is limited, but I will take as much as they allow me to buy as much as I can" - Mr. Dang said.

Gia vang sut giam, nhieu nguoi cho mua vao. Anh: Phuong Anh — Gold prices have dropped, many people are waiting to buy. Photo: Phuong Anh

Similarly, Ms. Pham Thu Thao (Dong Anh district, Hanoi) also anxiously waited, afraid that when the store opened for sale, it would be her turn for the gold rings to sell.

"I bought gold as a wedding gift for my relatives. Before, when I got married, they also gave me gold from this brand, so now I want to give it back, as a way to show respect.

However, there were many people lining up in front of me. I don't know if when they open for sale, it's my turn to see if there is still gold or not" - Ms. Thao said.

Tiem vang tap nap khach cho giao dich. Anh Le Ha — Gold shops are bustling with customers waiting for transactions. Photo: Le Ha

Gold price update

As of 10:50 on May 12, the price of SJC gold bars was listed by DOJI Group at 119 - 121 million VND/tael (buy - sell), down 1 million VND/tael for buying and down 1.2 million VND/tael for selling compared to early in the morning.

Bao Tin Minh Chau listed the price of SJC gold bars at 119 - 121 million VND/tael (buy - sell), down 1 million VND/tael for buying and down 1.2 million VND/tael for selling.

At the same time, Phu Quy Gold and Stone Group listed the price of gold rings at 114 - 117 million VND/tael (buy - sell), down 1 million VND/tael in both directions.

Bao Tin Minh Chau listed the price of gold rings at 116 - 119 million VND/tael (buy - sell), down 1 million VND/tael in both directions.

As of 11:00 a.m. on May 12 (Vietnam time), the world gold price listed on Kitco was at 3,280 USD/ounce.