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People rushed to buy gold, many banks "broke down", ran out of gold within minutes of opening for sale

Việt NamViệt Nam03/06/2024

Many people lined up to buy gold even though the banks were not open yet.
Many people lined up to buy gold even though banks were not open yet.

According to the plan, in the immediate future, all four state-owned commercial banks will sell gold to people at locations in Hanoi and Ho Chi Minh City.

In Hanoi, at a gold selling point of Vietinbank (81 Hue Street, Hai Ba Trung District), dozens of people lined up early to wait to buy gold, despite the hot weather.

The bank announced that the selling price of gold is 79.98 million VND/tael. This price is 1 million VND higher than the selling price of the State Bank to banks this morning, which is 78.98 million VND/tael. Customers can pay by bank transfer or cash, but the bank encourages payment by bank transfer for easier control and faster payment.

The closer it got to the time the bank started selling gold, the more people came. At 2:30 p.m., the store opened for sale and only allowed 3 people to buy at a time. Because of the large number of people, many customers were afraid that they would run out of gold to buy, since the bank did not limit the amount of gold sold. As a result, customers rushed to buy first, making it very difficult for bank staff to clear and regulate the flow.

Customers wait in the sun to buy gold at Vietinbank's point of sale.
Customers wait in the sun to buy gold at Vietinbank's point of sale.
More and more customers came...
More and more customers came...
Many people are impatient, afraid that they won't be able to buy in time because the bank will sell all the gold.
Many people are impatient, afraid that they won't be able to buy in time because the bank will sell all the gold.
The selling price is listed right at the door by Vietinbank.
The selling price is listed by Vietinbank right at the door.
Many people jostled to get in to buy gold, making it difficult for bank staff to stop them.
Many people jostled to get in to buy gold, making it difficult for bank staff to stop them.

Meanwhile, in Ho Chi Minh City, at BIDV Bank branch 134 Nguyen Cong Tru (District 1), after 10 minutes of opening for sale, bank staff informed customers to come back tomorrow morning because the number of buyers was too large, causing the amount of gold distributed to not be enough to meet demand.

Many elderly customers were upset because the bank's announcement was inconsistent. A customer in Tan Binh district said he wanted to buy 3 taels of gold, but when he heard the bank was selling at a stable price, he took a taxi there and waited since 2 p.m. When the bank opened for sale, he was asked to leave. He refused because he was afraid of traveling and was afraid that the price of gold would increase tomorrow.

In response to this customer's frustration, the staff said that if he agreed to wait, after all the needs of the customer were resolved, if there was any gold left, they would sell it to him.

A customer was upset because he waited a long time but could not buy gold.
A customer was upset because he waited a long time but could not buy gold.

At VCB Bank (5 Cong Truong Me Linh, District 1), by 3:15 pm, only 4 customers were able to buy, while the number of people waiting was up to 65. Bank staff advised customers to go home and come back at 9 am the next morning, however many people did not want to go home because they were also afraid that the price would go up tomorrow.

TH (according to VTC News)

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