At major stores in Hanoi and Ho Chi Minh City, some people go to buy gold close to the day of Thanh Tai. Some large jewelry systems are crowded all day long, while small shops have sporadic customers coming in and out to do transactions.
Smooth gold rings – a product with less price fluctuation compared to gold bars – are continuously adjusted in price. Last year and this year, smooth rings at large “gold houses” have increased by no less than half a million dong per tael a few days before Thanh Tai day.
Yesterday, there was a moment when the price of smooth gold rings reached a new peak of 65-66 million dong per tael, which is 6 million dong higher than the world price. This is also the most traded item on Thanh Tai day, according to the deputy general director of a gold company based in Hanoi.
Up to today, February 18th (the 9th day of the first lunar month), the price of SJC smooth gold rings has decreased after a “hot” increase, being quoted at 64.8 million dong per tael for selling in the afternoon. The selling price of 5-gram smooth gold rings is listed at 64.9 million dong per tael. The price has decreased by 600,000 dong per tael compared to February 17th (the 8th day of the first lunar month).
Mr. Ngoc Lam (Hai Ba Trung, Hanoi) chose to buy 1 tael of gold bar at the beginning of the year. He said he took the opportunity to go shopping early to avoid the crowd. Not to mention, tomorrow is the beginning of the week, so he has to go to work, making it inconvenient to go shopping on Sunday. Mr. Lam is not the only one, as many people are waiting in line to buy gold, filling the seats in the store.
Mrs. Ha Linh (Hoan Kiem, Hanoi) also bought 2 taels of gold on the afternoon of February 18th. When asked if she is worried about losing money if the gold price drops sharply after Thanh Tai, she said she only buys for luck. “Every year, I buy 1-2 taels of gold for luck and savings. I think if I hold onto it until the end of the year, there will be profit. Those who incur losses are the ones who sell early. I hold it for the long term, so I’m not worried,” she said.
Mr. Q. Linh (Binh Chanh district, Ho Chi Minh City) just bought 5 grams of gold rings before Thanh Tai day, although he knew the gold price is high. He bought it for the sake of prosperity at the beginning of the new year.
“During these days, the gold price may be higher than usual, but I buy it with the mindset of getting lucky and prosperous, so the price is not too important,” shared Mr. Linh.
Not only Mr. Linh, but Mrs. Vui (District 10, Ho Chi Minh City) also allocated a bonus for Tet to buy 2 tael of gold bars for luck at the beginning of the year.
Mrs. Vui started buying from today with the mindset of avoiding overcrowding, also because Thanh Tai day falls on Monday tomorrow (February 19), so she is also not convenient to queue up to buy gold.
An employee selling gold said customers have started buying Thanh Tai gold and smooth gold rings since the 6th day (February 15), with the number of customers equivalent to last year. “Tomorrow is Thanh Tai day, so it will definitely be busier, many customers are taking the opportunity to buy in advance to avoid queuing and waiting,” she said.
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