Despite a gap between buying and selling prices of up to VND3.5 million (nearly US$139) per tael, people flocked to gold shops to buy golden products for luck and prosperity on the God of Wealth Day.
Golden products like coins, figurines, charms and jewelry with prosperity, wealth, longevity and fortune from major gold brands sold out in the morning.
At around 10:30 a.m. on February 7, Saigon Jewelry Company, Phu Nhuan Jewelry Company and Bao Tin Minh Chau Jewelry Company increased the price of SJC gold bars by VND400,000 (US$15.8) per tael for buying and VND700,000 (US$27.7) for selling compared to the previous day, listing at VND86.8 million (US$3,439) per tael for buying and VND90.3 million (US$3,577) per tael for selling.
As for 9999 gold rings, gold businesses significantly raised selling prices while keeping buying prices unchanged on February 7 morning. That increased the gap between buying and selling prices by nearly VND3.5 million (nearly US$139) per tael.
Specifically, Phu Nhuan Jewelry Company maintained the buying price but increased the selling price by VND600,000 (US$23.7), trading at VND86.7 million (US$3,431) per tael for buying and VND90.1 million (US$3,565) per tael for selling.
Bao Tin Minh Chau Jewelry Company also raised the buying price by VND400,000 (US$15.8) per tael and the selling price by VND700,000 (US$27.7) per tael, listing at VND88.6 million (US$3,505) per tael for buying and VND90.25 million (US$3,575) per tael for selling.
Phu Quy Gold Investment Joint Stock Company increased the buying price by VND400,000 (US$15.8) per tael and the selling price by VND700,000 (US$27.7) per tael, posting at VND86.7 million (US$3,434) per tael for buying and VND90.2 million (US$3,570) per tael for selling.
Saigon Jewelry Company adjusted both the buying and selling prices up by VND400,000 (US$15.8) per tael, quoting VND86.8 million (US$3,435) per tael for buying) and VND89.8 million (US$3,554) per tael for selling.
Although gold prices have risen, gold stores in Ho Chi Minh City were crowded from early morning. Gold businesses in the city also opened earlier than usual to meet the demand of buyers.
At SJC's store on Nguyen Thi Minh Khai Street, District 3, by 9 a.m., the number of customers had significantly increased. Most buyers came here to buy 9999 gold rings, SJC gold bars with one mace, two maces and five maces of gold, and one tael directly without pre-registering online.
Meanwhile, gold shops in Hanoi still had customers who lined up to buy gold on the God of Wealth Day, but the number of buyers was lower compared to the same period in previous years.
Below are some images featuring gold buyers in Ho Chi Minh City on the God of Wealth Day (the 10th day of the first lunar month).
Below are some images featuring gold buyers in Hanoi on the God of Wealth Day (the 10th day of the first lunar month).
