Shops issue numbers, people line up to buy gold

This morning, October 24, at many gold shops in Hanoi, the scene of people lining up to buy gold recurred, and the shops had to issue numbers to limit customers entering to make transactions due to low supply.

According to the reporter's records, from early morning, many people flocked to Tran Nhan Tong Street (Hai Ba Trung District, Hanoi) to wait for gold shops to open. But just a few hours later, many places had to announce that they were out of gold and asked customers to come back later to make transactions.

People line up at gold shops on Tran Nhan Tong Street, Hanoi on the morning of October 24.

At Phu Quy store, many customers lined up to buy gold. One person said that because all the big stores around were out of gold, only this store still had gold left, so they flocked here. However, by 10am, the store had to hang a sign saying "temporarily out of stock of gold products".

Ms. Hoai Thu (Hoan Kiem district) said that these past few days, she had to wait early to see which store was open so she could go in and buy gold. After many days of lining up, getting numbers and waiting, she has only been able to buy 2 taels of gold rings, so she carefully asked a nearby tea shop to keep an eye out. If she saw people lining up to buy gold, she would call to inform them immediately. " Today, when I heard that the store was open for sale, I continued to wait to buy, but unfortunately the store had run out of numbers ."

Many people wait outside gold shops to line up to buy gold for hire.

At Bao Tin Minh Chau store, an employee said that this morning both locations on Tran Nhan Tong were out of gold. " Due to the large number of buyers in the previous days, the store had no more gold bars and gold rings to sell yesterday and today. Other types of gold are still traded normally. "

Although the store is not currently selling gold, there are still many people waiting outside. According to the staff here, these people standing outside are either hired to line up to buy gold or hired by small gold shops to come and buy gold and invite customers.

Similarly, the two gold stores Doji and SJC also had no gold left to sell. Many people who wanted to buy came to buy but were told that the gold was out of stock and returned home disappointed.

While many large stores ran out of gold, small gold stores were also crowded with customers this morning.

Mr. Quang Anh (Hai Ba Trung district) said: " For many days now, I have been lining up to buy gold rings as a wedding gift for my younger brother, but the big stores are too scarce, so I have to buy at small retail stores. Although the transaction prices are similar, I am still worried that it will be difficult to sell them later ."

The price of gold rings has increased sharply for many days and yesterday was equal to that of gold bars when it climbed to a historical high of 89 million VND/tael. By this morning, the increase had slowed down, this type of gold turned to decrease slightly and is currently 50,000 VND/tael lower than the price of gold bars (selling price).

Specifically, at Doji, the price of gold rings is listed at 87.95 - 88.95 million VND/tael (buy - sell), while the price of gold bars is traded at 87 - 89 million VND/tael.

Thus, the buying price of gold rings is currently nearly 1 million VND/tael higher than the buying price of gold bars.

Source