There are still many people buying gold for luck on God of Fortune Day, but most of them only buy in small quantities, few people buy in large quantities because the domestic gold price has been "at its peak" for the past few weeks.
Many people still buy gold for luck on God of Wealth day, but mainly buy small quantities of 1-2 taels - Photo: THANH HIEP
On February 7, the price of SJC gold bars was kept stable by gold companies at 90.3 million VND/tael (selling) and 86.8 million VND/tael (buying). The price of 9999 gold rings was at 89.8 million VND/tael, buying at 86.8 million VND/tael.
Buy for luck even though you know the price will drop
According to Tuoi Tre, from early morning on February 7, at Tran Nhan Tong gold street (Hanoi), many people lined up to buy gold. Due to the large number of customers, the waiting time to pay and receive gold took 1-2 hours. Some stores had prepared chairs for customers to sit and wait to make transactions. Not only did they line up inside the store, many customers also sat outside on the sidewalk and on the street.
Mr. NVT (Hoan Kiem district, Hanoi) spent nearly 1.2 billion VND to buy 13 taels of gold including gold bars and gold rings at noon on February 7, and waited for more than an hour to get to the payment area. He did not buy this amount of gold for himself, but he represented several siblings in his family. "The gold price has reached its peak, over 90 million VND/tael, but I still bought it. I wish for luck for the whole year, even though the gold price will decrease after God of Wealth Day" - Mr. NVT shared.
Ms. HTN (Vinh Phuc province) said she traveled 60km in 2 hours from Vinh Yen (Vinh Phuc province) to Hanoi to buy 2 taels of gold rings and said she knew that if she bought it and sold it immediately, she would lose 3.5 million VND/tael, because she believed that buying it would bring luck and fortune for the whole year.
Snake God of Wealth
In Ho Chi Minh City, according to records at SJC Company, most customers buy the God of Wealth gold piece with the shape of a snake, the zodiac animal of the year, some buy plain gold rings, and some buy 2-3 taels, even 1 tael of gold. One customer spent nearly 100 million VND to buy a plain ring and lucky gold in the shape of a snake. Ms. HK (District 1) said that last year she bought a plain ring for more than 6.5 million VND/tael and made a profit of more than 2 million VND after just one year. Therefore, this year she still bought 1 tael with the mentality of hoping for luck.
At PNJ Company, at noon on February 7, there were quite a lot of customers coming to buy gold, mainly buying 9999 gold rings because they do not have to pay for labor and are easy to resell. A group of 5 customers bought 5 taels of PNJ gold rings and requested a separate invoice.
At 12 noon, gold trading companies announced a lunch break and reopened at 1 pm, but many people still rushed to buy and regretfully returned. By early afternoon, many PNJ stores had run out of plain rings. A PNJ representative said that supplies were being replenished continuously, but mainly to large stores where many buyers gathered.
However, according to many gold companies, in general, the number of customers buying gold on God of Wealth Day this year is not as high as in previous years due to the high price of gold. Compared to God of Wealth Day last year, the price of 9999 gold rings this year has increased by about 25 million VND/tael, while the price of SJC gold bars is about 13 million VND/tael higher, making many people hesitate.
The world gold price on February 7 reached 2,872 USD/ounce at one point, then decreased to 2,867.6 USD/ounce at the end of the day. Converted according to the exchange rate listed at the bank, the world gold price is equivalent to 88.05 million VND/tael. Thus, compared to the converted world gold price, the price of SJC gold bars is 1.98 million VND/tael higher, while the price of 9999 gold is 1.75 million VND/tael higher.
Source: https://tuoitre.vn/gia-vang-dinh-noc-vang-via-than-tai-bot-nong-20250207222254213.htm
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