Many big stores simultaneously reported running out of gold to sell, what's going on?

As of 11:00 a.m. on April 21, the price of SJC gold bars continued to be raised by SJC, PNJ, and DOJI companies to around 116 million VND/tael for buying and 118 million VND/tael for selling, an increase of 1 million VND compared to the opening price, and a total increase of 4 million VND/tael compared to the weekend.

Similarly, the price of 99.99 gold rings and jewelry gold of all kinds was listed by businesses at 112.5 million VND/tael for buying and 115.5 million VND/tael for selling - a total increase of 2 million VND/tael.

According to a reporter from Nguoi Lao Dong Newspaper, gold prices have increased sharply but there are still many buyers. However, some large gold companies said they no longer have SJC gold bars to sell to customers.

At SJC Company (District 3, Ho Chi Minh City) this morning, customers continued to line up to buy gold. Company employees said that the demand of buyers is the main thing, each customer can buy a maximum of 2 taels/person of plain gold rings and SJC gold bars can be purchased from 1 tael.

Meanwhile, at some other companies, the gold supply is not too abundant. DOJI Group staff said that SJC gold bars at stores in the system are out of stock. Gold rings will be supplemented and customers can contact the nearest stores.

SJC gold bar price skyrocketed but some stores reported out of stock

At Phu Nhuan Jewelry Company (PNJ), as of this morning (April 21), company employees said that SJC, PNJ gold bars, plain rings and PNJ's Tai Loc gold bars are being continuously traded (bought in - sold out) at the store. Customers in need should contact the store directly.

"The system still has all kinds of gold products, but to meet the demand, customers have to come directly to the store" - said an employee of a PNJ store in Ho Chi Minh City.

In recent days, some customers have reported that they have visited many large gold shops in Ho Chi Minh City such as PNJ and DOJI but it is not easy to buy SJC gold bars. At SJC company, customers have to wait in line for their turn, sometimes after waiting, the company informs that there is no gold for the time being, they have to write a ticket to come back the next day...

PNJ and DOJI staff said that if customers want to buy SJC gold bars, they should go to the nearest store to ask.

This development, according to some gold experts, is normal. This has been happening for more than a year now. Gold expert Tran Duy Phuong analyzed that for many years now, businesses have not been licensed to import raw gold to produce plain gold rings, so the supply is scarce. Regarding SJC gold bars, large businesses such as PNJ, DOJI, Bao Tin Minh Chau... are also not on the list of units that the State Bank sells SJC gold bars to stabilize the market.

The gold bar supply of these businesses is also mainly buying and reselling on the market. Therefore, at some times, customers only buy but do not sell or vice versa, the supply will be limited.

"If the management agency soon has a solution to supply gold to the market to increase supply or sell SJC gold bars to stabilize like in 2024... it will help cool down gold prices and reduce the difference between domestic and world gold prices.

The same goes for gold rings, we need a policy that allows businesses to import raw gold to produce gold rings. Because the supply is scarce while the demand from the market is very high, few people sell, pushing the price up rapidly" - Mr. Tran Duy Phuong proposed.

Source: https://nld.com.vn/nhieu-cua-hang-lon-dong-loat-bao-het-vang-de-ban-dieu-gi-dang-xay-ra-196250421120633044.htm