Strengthen inspection, examination and close supervision of the gold market

The volume of buying and selling transactions is not much.

According to Ms. Dao Thi Thanh Dung, Director of Hai Phong Branch - DOJI Gold and Gemstone Group (No. 75 Cau Dat Street, Ngo Quyen District, Hai Phong City), recently, domestic gold prices have continuously increased and fluctuated strongly due to the increase in world gold prices. As of 4:00 p.m. on September 25, the price of SJC gold bars at DOJI Gold and Gemstone Group - Hai Phong Branch was listed at VND 81.50 million/tael for buying and VND 83.50 million/tael for selling; 9999 gold rings, bought at VND 82.00 million/tael, sold at VND 83.00 million/tael. Thus, compared to the late afternoon trading session on September 24, the price of SJC gold bars did not increase, however, the price of 9999 smooth round gold rings increased by VND 1.8 million/tael.

According to Ms. Dung, during the days when gold prices peaked, the branch still had customers coming to buy and sell, but not many. On average, each day there were about 10 - 20 taels of transactions (buying and selling were equivalent). The Hai Phong gold market focused on more retail customers; customers mainly bought plain gold rings for storage and consumption. Currently, people's demand for gold storage is high but supply is scarce.

Customers mainly buy plain gold rings for storage and consumption.

The fluctuating gold market has also affected the psychology of buyers and investors. Surveys at stores, companies, and businesses trading in gold, silver, and precious stones on Cau Dat, Le Loi, and Lach Tray streets (Ngo Quyen district), Tran Nguyen Han streets (Le Chan district), and Lan Ong (Hong Bang district); gold stores in the centers of Thuy Nguyen, Vinh Bao, Tien Lang districts, and Hai Phong city... showed that the number of buyers and sellers was not high.

Customer Nguyen Thi Ngoc, in May Chai ward (Ngo Quyen district) said: “I bought 5 taels of gold rings at the beginning of 2024. This time, my family needed money to repair the house due to the impact of storm No. 3. At the same time, the price of gold rings increased, so I decided to sell them for profit. In my opinion, although the price of gold fluctuates, at the present time it is still a more profitable investment channel than saving or investing in real estate.”

Similarly, at a gold shop on Ly Thanh Tong Street, Do Son District, Hai Phong City, Ms. Dao Thi Lan, in Bang La Ward (Do Son District) shared: " I have a child who lives abroad and occasionally sends money back as a gift, so I buy gold to save for my old age. I don't pay much attention to the price going up and down because I don't trade."

Gold shops in Hai Phong city, the number of buyers and sellers is not much.

Mr. Dinh Xuan Phuong, manager of Hoang Phuong gold shop (No. 65-67-69-71 Cau Dat street, Ngo Quyen district) is concerned: " Because the price of gold is constantly increasing, the number of buyers and sellers has decreased significantly; customers mainly switch to buying more gold for gifts, serving personal needs. If the price of gold continues to increase, it will be very difficult for businesses because there are no customers to buy and sell, while businesses have to borrow large amounts of capital from banks to invest in business, as well as pay salaries to employees."

Will strengthen inspection, examination and control work

It can be said that recently, the price of gold has been constantly changing abnormally and increasing to record highs, making it difficult to predict. However, grasping the needs of customers to serve consumption, life, weddings, hoarding, etc., gold shop owners are expecting increased purchasing power and a more stable gold market.

Strengthen inspection, examination, control and close supervision of the gold market.

From the perspective of state management, Director of the State Bank - Hai Phong Branch Nguyen Thi Dung assessed: " Recently, the world and domestic gold markets have been complicated, domestic gold prices have fluctuated strongly, increased rapidly, negatively affecting the safety of the financial and monetary markets and social psychology. Therefore, the State Bank - Hai Phong Branch continues to monitor developments in the domestic and international gold market, and strictly implement the direction of the Government and the State Bank of Vietnam to manage and stabilize the gold market."

"In particular, the Branch strengthens inspection, examination, control and close supervision of the gold market, the activities of gold trading enterprises, stores, agents distributing and trading gold bars, promptly detecting shortcomings, especially acts of smuggling, manipulation, speculation, etc., ensuring the gold market operates stably, transparently, safely, healthily and effectively," said Ms. Nguyen Thi Dung .

Source: https://congthuong.vn/hai-phong-tang-cuong-cong-tac-thanh-tra-kiem-tra-giam-sat-chat-che-doi-voi-thi-truong-vang-348319.html