Domestic gold prices fall, many people change their psychology to buy gold

No longer pouring most of the money into gold

Recorded at Tran Nhan Tong gold street (Hanoi) on September 22, gold trading activities took place quite stably, the number of customers at stores was not too large. People came to transact mainly to buy gold rings in moderate quantities.

Ms. Ngo Hoai An (Bach Mai ward, Hanoi) - a customer who came to buy gold on Tran Nhan Tong street - said that in the past, when gold attracted great attention, she often spent most of the money she had to buy gold.

According to Ms. An, if she used to have 50 million VND for accumulation, she could use almost all of this money to buy gold. However, currently, her method of allocating money has changed.

Now if I have 50 million VND, I only spend about 1/3, even 1/5 of the money to buy gold. The rest I keep or choose other forms of savings" - Ms. An shared.

Currently, she still maintains accumulating gold but no longer spends most of the money on gold as before. This morning, Ms. An came to buy 1.5 taels of gold rings.

Allocating money in many forms helps me to be more proactive when I need to use money, while still maintaining a part of my assets in gold" - Ms. An said.

Also maintaining the purchase of gold, but Mr. Truong Van Tan (Hai Ba Trung ward) said that his trading psychology has changed in a direction that is no longer too hasty.

Mr. Tan came to the store to buy 2 taels of gold rings. According to him, before, when he saw gold prices increase, he often had the psychology of taking advantage of buying because he was worried that prices would continue to rise. Currently, he no longer maintains the psychology of having to buy immediately when prices fluctuate: "Before, many times when I saw prices increase, I thought I had to buy immediately, afraid that later it would be more expensive. Now I no longer have that psychology. If I have demand, I buy, and if it is not necessary, I can wait longer".

Ms. Do Thi Nhien - another customer - shared that gold price fluctuations also changed her purpose of buying gold.

If she used to buy gold whenever she had free money, now she no longer considers gold as a default choice. Before each purchase, she considers the need to use money in the future and then decides whether to buy gold or not.

In the past, whenever I had money to save, I often thought about buying gold. Now I will see if there are any expenses in the future, if not, then consider buying gold" - Ms. Nhien shared.

Gold price update

As of 2:45 PM, DOJI Group listed gold ring prices at 142-146 million VND/tael (buying - selling), simultaneously decreasing by 800,000 VND/tael in both directions compared to this morning.

Phu Quy Gold and Gems Group listed the price of gold rings at 142.2-145.2 million VND/tael (buying - selling).

At the same time, DOJI listed SJC gold price at the threshold of 142.5-145.5 million VND/tael (buying - selling), simultaneously down 1.1 million VND/tael in both directions compared to this morning.

Phu Quy listed SJC gold bar prices at the threshold of 142.2-145.5 million VND/tael (buying - selling).

As of 2:50 PM, world gold prices are listed around the threshold of 4,308.1 USD/ounce.