Gold prices increased again at the weekend, people lined up to buy through noon
On the weekend, the domestic gold price increased again, causing people to rush to buy. Many gold shops on Tran Nhan Tong gold street were overloaded and had to temporarily stop selling.
On the morning of October 26, the domestic gold price suddenly increased again, causing a wave of people to line up at large stores on Tran Nhan Tong Street, Hanoi.
Both SJC gold bars and gold rings increased in price from 700 to 1 million VND/tael. The situation of 'out of stock' occurred at many points of sale when the demand for gold increased suddenly. Although the stores announced that they were out of gold, many people still patiently waited in the hope of buying when the goods were available again.
At Bao Tin Minh Chau, the high number of customers caused two stores on Tran Nhan Tong Street to collapse. At 1 p.m., the line of people was still long through the afternoon, spilling out onto the street.
The store representative said that the supply was not enough to meet the demand, forcing them to temporarily stop selling and advised customers to contact them before coming to buy. On the opposite side, Phu Quy store also ran out of investment gold products, only accepting customers to sell or trade silver.
As of 2:00 p.m., SJC gold price at Bao Tin Minh Chau reached 148.2 - 149.2 million VND/tael (buy - sell), an increase of 400,000 VND/tael each way compared to yesterday.
At DOJI Group, SJC gold price also increased sharply to 146.7 - 149.2 million VND/tael, the difference between buying and selling was 2.5 million VND.
With Thang Long gold rings, the gold price fluctuated from 150 - 153 million VND/tael, remaining stable during the day, while Phu Quy gold rings increased to 146.2 - 149.2 million VND/tael.
On the free market, gold prices are trading actively on social networking groups. BTMC gold rings are being sold at 156.5 - 158 million VND/tael, 3.5 - 5 million VND/tael higher than the listed price.
The price of SJC gold in the market is even higher by 15 - 18 million VND/tael, fluctuating from 165 - 168 million VND/tael. The heat of the gold price makes small investors continue to rush to buy, even though the supply at many stores has been exhausted.
