Gold rings are popular in Ho Chi Minh City when the price of gold bars exceeds 106 million VND/tael
HCMC - On April 13, domestic gold prices were at over 106 million VND/tael, causing people to queue up to buy at many large gold stores.
At Mi Hong gold shop (Binh Thanh district), customers coming to trade are always bustling. The number of customers buying is overwhelming, only a few people bring gold to sell to make a profit. In particular, gold rings are still a commodity chosen by many people to buy.
"I saw that the price of gold was rising, I was afraid it would increase, so I went to buy a few taels to reserve for peace of mind. I have never seen gold price so high" - Ms. Tran Minh (Go Vap District) said.
Having decided to buy 2 taels of plain gold rings at a gold shop on Nguyen Trai Street (District 5), Ms. Nguyen Diem (residing in District 5) said: "At this time, the price of gold is at a high level, but I still decided to buy because I only store it, not 'surf'. I chose to buy gold rings because it is easy to buy and sell in small stores".
Domestic gold prices are rising rapidly. Dr. Nguyen Tri Hieu - an economic expert - commented that the Vietnamese gold market is being greatly affected by the developments of the world gold market.
According to Mr. Hieu, the global gold market is currently experiencing a period of strong fluctuations, mainly due to issues related to tariff policies. Meanwhile, the stock market has shown great instability under the impact of tariffs; the real estate market has not shown signs of improvement and other investment channels also lack stability. Investors feel that only gold is the safest haven at the moment.
At the end of the trading session of the week, DOJI Group listed the price of SJC gold at 103-106.5 million VND/tael (buy - sell). Saigon Jewelry Company SJC listed the price of SJC gold at 103-106.5 million VND/tael (buy in - sell out).
The price of round gold rings at DOJI is listed at 101.2-104.8 million VND/tael (buy in - sell out). The price of SJC gold rings of type 1-5 is listed at 101.4-104.9 million VND/tael (buy - sell).
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