Domestic gold prices increase sharply, people buy and sell cautiously

People buy gold flexibly, consider carefully

On April 14, reporters' records at familiar gold business streets such as Tran Nhan Tong and Mai Hac De (Hai Ba Trung ward, Hanoi) showed that the trading atmosphere was much quieter than previous "gold fever" waves.

Although domestic gold prices have continuously increased, the number of customers coming to stores is sparse, contrary to the crowded and long queues seen in previous weeks.

According to records, the high price makes people more cautious. The customers who appear mainly transact quickly, do not stay for long and most have been calculated in advance.

On Tran Nhan Tong street, Ms. Bui Nguyen Phuong Lan (35 years old, living in Bach Mai ward, Hanoi) is one of the customers who came to transact in the morning. She said that she only bought 1.5 taels of gold rings and completed it quite quickly, about 30 minutes.

The price is high, so I also consider a lot. I bought a little to monitor further, if I find it suitable, I will consider further" - Ms. Lan shared.

According to her, currently, buying gold is mainly based on observing market developments and personal financial ability. "I don't buy a lot at once, but divide it into times to make it easier to manage while still diversifying how to keep money" - she said.

Meanwhile, Mr. Do Van Minh (freelancer in Hanoi) has a different purpose. He said that he still maintains the habit of buying gold as savings asset, but the scale has decreased significantly compared to before.

I still believe that gold is a safe asset holding channel, but at the current price, I cannot buy a lot. Each time I only buy a little, waiting for the price to adjust to buy more" - Mr. Minh said.

Mr. Minh shared that before, whenever the market was "hot", he often bought 1-2 taels at a time. However, now, he prioritizes breaking down transactions. "Now I have to calculate more carefully, I cannot follow the psychology of the crowd" - he shared.

He added that today, he bought 2 taels of plain round gold rings and was returned immediately, without having to wait to receive the goods according to the appointment as before.

Gold price update

As of 11:50 am, SJC gold bar prices were listed by DOJI Group at 170-173 million VND/tael (buying - selling), an increase of 1.5 million VND/tael in both buying and selling directions compared to yesterday morning.

SJC gold bar price was listed by Bao Tin Minh Chau at 170-173 million VND/tael (buying - selling), an increase of 1.5 million 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 170-173 million VND/tael (buying - selling), an increase of 1.5 million VND/tael in both buying and selling directions compared to yesterday morning.

Bao Tin Minh Chau listed the price of gold rings at the threshold of 169.7-172.7 million VND/tael (buying - selling), an increase of 1.2 million VND/tael in both buying and selling directions compared to yesterday morning.

At 11:50 AM, world gold prices were listed around the threshold of 4,775.1 USD/ounce.