(NLDO) – People's demand for buying gold for luck on the occasion of God of Wealth is increasing, despite the price of SJC gold bars and gold rings reaching historical peaks.
Early afternoon of February 4, SJC gold bar prices were listed by businesses at VND88.1 million/tael for buying and VND90.6 million/tael for selling - stable compared to the morning and at the highest level since May 2024.
Similarly, the price of 99.99 gold rings and jewelry gold of all kinds also peaked at around 88.1 million VND/tael for buying and 90.1 million VND/tael for selling. Meanwhile, gold rings produced by Phu Quy, DOJI, Bao Tin Minh Chau... have a buying and selling price of 88.6 - 90.5 million VND/tael.
On the international market at 1:00 p.m. on February 4, the world gold price stood steady at 2,815 USD/ounce, unchanged from the opening price of the same day.
According to the reporter of Nguoi Lao Dong Newspaper, the demand for buying gold for luck on the occasion of God of Wealth among Ho Chi Minh City residents has increased in the past 2 days. However, the purchasing power has not increased dramatically and there is a significant difference between business units.
Customers waiting for transactions at SJC Company this morning, February 4. Clip: Lam Giang
Customers waiting to buy gold at SJC Company on the morning of February 4. Photo: Lam Giang
This afternoon, at the headquarters of SJC Company (District 3, Ho Chi Minh City), the number of customers coming in and out was bustling. Among them, customers were mainly waiting to buy 99.99 gold rings, very few people brought gold to sell.
Gold products on God of Wealth Day such as God of Wealth gold bars and 1-chi Kim Ty gold bars are also popular choices. Ms. Ngoc (living in District 5, Ho Chi Minh City) said she wanted to buy gold early on God of Wealth Day because she was worried that on the 9th and 10th, there would be many customers or there would be no stock.
Due to high demand, SJC Company announced that each day, 1 customer can only buy a maximum of 0.5 tael of 99.99 gold rings or 1 tael of Than Tai gold products.
Each tael of SJC gold sold this morning reached 90.1 million VND, the highest since May 2024. Photo: Lam Giang
A notable development is that some people are willing to buy back gold rings or gold bars from customers waiting for their turn to trade at SJC Company. However, company employees said that if they discover customers buying and selling with each other, security will ask them to leave. Reporters' observations show that customers buying and selling gold are required to present their ID cards.
The transaction counter area at SJC Company was bustling and busy in the morning. Company employees said that in the 2 days of reopening after Tet holiday, there were more customers than before.
Meanwhile, other business locations in Ho Chi Minh City are quite quiet. Gold shops in the Ben Thanh market area, Cach Mang Thang 8 street… are deserted.
Some companies said that this year, the supply of gold and gold products is not much due to limited raw materials. In particular, plain gold rings are quite scarce.
Due to limited supply, SJC Company limits each person to only be able to buy 0.5 tael of 99.99 gold rings per day. Photo: Lam Giang
Gold prices hit a peak, trading demand increased but there were differences at many trading locations. Some gold trading locations in Ho Chi Minh City were quite deserted this morning. Photo: Le Tinh
The demand for buying gold for luck on New Year's Day and on the occasion of God of Wealth has often increased in recent years. However, this year, gold prices have reached a peak, so according to analysts, customers will still buy gold, but the quantity and value of gold products will be lower. Photo: Le Tinh
People transact at a gold shop in Ho Chi Minh City.
Ms. Han Thi Binh, owner of a gold shop in Ho Chi Minh City, said that from the 5th to the 6th day of Tet, most customers focused on buying gold rings. However, today (the 7th day of Tet), the purchasing power of gold rings has somewhat slowed down. Those who specialize in surfing are competing to sell gold rings to make a profit.
According to Ms. Binh, due to the sky-high price of gold, most customers only buy products from 5 to 1 chi with the hope of having good luck in the new year. Those who buy gold to make a profit will not easily succeed because in the coming time, the price of gold at home and abroad will fluctuate very unpredictably.
In contrast to Ho Chi Minh City, the leaders of gold trading enterprises in Hanoi said that there are still more people buying gold than selling. However, due to the lack of raw materials for production, there were times when some enterprises did not have enough goods to meet people's needs.
"All the SJC gold bars and gold rings we purchased were sold to customers. The price of SJC gold and gold rings will hardly decrease if purchasing power continues to increase in the next few days and world gold prices do not decrease," said a leader of a gold trading company in Hanoi.
Source: https://nld.com.vn/gia-vang-tang-nong-truoc-ngay-than-tai-cong-ty-sjc-ban-toi-da-05-chi-nguoi-196250204133949012.htm
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