On July 23, domestic gold prices continued to adjust sharply downwards, making the trading atmosphere at gold shops on Cau Giay street (Hanoi) much quieter than when prices increased sharply.
Reporters' records show that the number of customers coming to transact is not large, in which many people bring gold to the store in a worried mood, considering between selling to take profits or continuing to hold.
At a gold shop on Cau Giay street, Ms. Bui Thu Ha (Nghia Do ward, Hanoi) said that she brought 5 taels of gold rings to the store with the intention of selling some to take profits, but was still hesitant.
I intend to sell a part of the gold to have money to spend on family matters. However, the price is falling quite rapidly, so I am still hesitant, wanting to monitor further before deciding" - Ms. Ha shared.
Meanwhile, Mr. Tran Hoang Phu (Cau Giay ward, Hanoi) said that initially he planned to sell all the gold he held. However, after monitoring market developments, he decided to only sell a part.
From the end of 2025, I bought 1 tael of gold and 2 taels of plain round gold rings. Today, I sold a few taels in advance to ensure profit, the rest will continue to be kept. If the price decreases further, I also plan to buy back because I still believe gold is a safe accumulation channel in the long term" - Mr. Phu said.
With the same mentality, Ms. Nguyen Phuong Nghi (Nghia Do ward, Hanoi) shared that she brought gold to the store to check prices after a long time of storing. According to her, the constantly fluctuating gold price makes her want to recalculate her family's savings.
I have no intention of selling out. Today I mainly came to see the price and then consider whether to sell a part or continue to keep it. The price decreased quite quickly, so I also want to follow for a few more sessions before deciding" - Ms. Nghi shared.
Gold price update
As of 2:00 PM, SJC gold bar prices were listed by DOJI Group at 135-140 million VND/tael (buying - selling), down 7 million VND/tael on the buying side and down 6 million VND/tael on the selling side compared to yesterday morning.
Bao Tin Minh Chau listed SJC gold bar prices at 135-140 million VND/tael (buying - selling), down 7 million VND/tael on the buying side and down 6 million VND/tael on the selling side.
At the same time, Bao Tin Minh Chau listed the price of gold rings at the threshold of 139.35-143.2 million VND/tael (buying - selling).
DOJI Group listed gold ring prices at the threshold of 139-143.5 million VND/tael (buying - selling), down 5.5 million VND/tael on the buying side and down 4 million VND/tael on the selling side.
At 2:10 PM, world gold prices were listed around the threshold of 4,108.9 USD/ounce.
The sharp decline of world gold prices is creating pressure to pull domestic gold prices down. People need to be cautious, avoid following 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...
