Gold market cools down, stores no longer crowded waiting to buy

    Linh Đan |

    The weekend gold market is less bustling. At some stores in Hanoi, people come to buy gold conveniently, no longer having to queue to wait.

    On Sunday morning (July 26), reporters recorded on Tran Nhan Tong street (Hai Ba Trung ward, Hanoi) - where many gold trading stores are concentrated in Hanoi - there is no longer a scene of people jostling or queuing to buy like in previous hot gold price increases.

    Trading activities took place quite quickly, customers who came to buy only took a few minutes to complete the procedures and receive gold immediately. Domestic gold prices were also maintained stably by businesses compared to the previous trading session.

    As one of the customers who came to transact from early morning, Ms. Bui Hoai Thu (Bach Mai ward, Hanoi) said that she decided to buy 2 taels of gold rings to accumulate after monitoring price movements for many days.

    I choose to go on weekends because I have time. Before, every time gold prices increased sharply, I heard friends and relatives say I had to queue for a very long time, but today when I arrived, I only waited a few minutes to transact. After buying, I received gold immediately, so it was quite convenient" - Ms. Thu shared.

    According to Ms. Thu, gold prices are still at a high level compared to previous years, but long-term accumulation demand makes her decide to buy little by little instead of waiting for prices to fall deeply.

    Không còn cảnh người dân xếp hàng chờ mua vàng tại các cửa hàng kinh doanh vàng. Ảnh: Linh Đan
    No more scenes of people queuing to buy gold at gold business stores. Photo: Linh Dan

    Coming to buy gold in the morning of the same day, Mr. Pham Minh Tan (Cua Nam ward, Hanoi) shared that he had just used part of his savings to buy 5 chi of gold rings, at a price of 14.27 million VND/chi.

    I have no intention of surfing, but only buy to keep assets. What I see different from a few months ago is that the store is no longer crowded with people. The buying and selling process takes place quickly, the staff advises carefully and returns the gold immediately, so it is quite comfortable" - Mr. Tan said.

    According to him, the fact that the market is less "hot" helps buyers have more time to consider before deciding, instead of the psychology of fearing out of stock or having to wait many hours.

    Meanwhile, Ms. Do Thi Nhan (Bat Trang commune, Hanoi) said that she took advantage of her holiday to come to learn about and buy plain round gold rings to accumulate for her family.

    Initially, I only intended to visit gold products, but seeing that the store was not crowded and transactions were fast, I decided to buy them right away. It only took about 10 minutes to complete the procedures and receive the gold" - Ms. Nhan shared.

    Gold price update

    Closing the week's trading session, Saigon SJC Jewelry Company listed SJC gold price at 137.5-141.5 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 the previous week.

    Diễn biến giá vàng miếng SJC những phiên gần đây. Biểu đồ: AI
    SJC gold bar price movements in recent sessions. Chart: AI

    DOJI listed SJC gold price at 137.5-141.5 million VND/tael (buying - selling); down 7 million VND/tael for buying and down 6 million VND/tael for selling compared to the previous week.

    At the same time, DOJI Group listed gold ring prices at the threshold of 138.5-142.5 million VND/tael (buying - selling), down 4.8 million VND/tael in both buying and selling directions compared to the previous week.

    Phu Quy Gold and Gems Group listed the price of gold rings at 137.5-141.5 million VND/tael (buying - selling), down 5.5 million VND/tael on the buying side and down 5 million VND/tael on the selling side.

    Closing the weekly trading session, world gold prices were listed at 4,051.7 USD/ounce, down 34.4 USD compared to a week ago.

    See more news related to gold prices HERE...

    Linh Đan
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