Racing to livestream to sell gold, customers beware of buying "fake" goods

In the context of a series of gold shops being fined for selling goods of unknown origin, jewelry trading activities on social networking platforms are quite bustling.

Just enter the keyword "gold" into TikTok's search bar, the platform will produce a series of videos introducing types of gold including gold necklaces, bracelets, 1-tael rings or 3-4-item wedding gold combos... and ask buyers to come to the store to buy if needed.

Notably, to make it more convenient for buyers, gold shop owners also livestream and attach gold products to shopping carts.

Specifically, the MV gold shop account livestreamed to sell products, attached a shopping cart with products such as 610 gold necklaces for babies (34cm - 37cm long) priced from 3.6 - 5.7 million VND/piece, a pair of 610 gold rings priced at 7.2 million VND... attracting hundreds of viewers at the same time.

Or the TKP gold shop account livestreams selling 18K gold chain bracelets, 8-9 phan for men for 5.8 million VND; 610 gold belt 1-bead ring accessories for 2.3 million VND... and commits to delivery time of only 2-3 days from the date of purchase.

Visit this store on Tiktok Shop, the booth displays many types of gold jewelry priced from 2-7 million VND/piece and has had more than 500 product purchases.

According to observations, the gold selling livestream sessions of gold shops on TikTok have attracted a lot of attention from viewers and interactions between sellers and buyers, mainly asking about product quality and returns.

Similarly, on the Facebook platform, many gold-related groups such as "Buying and selling reputable gold and silver jewelry" (68,800 members), "Buying and Selling Gold and Silver, Jewelry, Gemstones" (57,400 members) have many posts every day about buying and selling gold rings and gold bars with a price difference of about 1-2 million VND/tael at gold shops.

However, according to gold experts as well as the Lao Dong Newspaper, which has repeatedly reported, buying and selling gold online will expose people to many risks such as poor quality gold, unknown origin, fraud...

Recently, the Ho Chi Minh City Market Management Department coordinated with the local economic police to inspect two businesses, including KH Gold Trading and Pawn Private Enterprise in Ba Diem Commune and KBN Gold Trading Company Limited in Hoc Mon Town, both in Hoc Mon District, and temporarily seized four gold jewelry products with a total value of over 100 million VND.

After that, these two businesses were fined 200 million VND for selling gold of unknown origin on social networks (TikTok, Zalo).

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