Gold prices skyrocket again near God of Wealth day
Each tael of SJC gold bar has jumped to nearly 37.6 million VND as many businesses proactively widened the buying and selling margin to 700,000 VND.
Domestic SJC gold bar selling price continues to increase today (February 24 - January 9), one day before the peak of the God of Wealth festival according to folk beliefs,
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Since this morning (the 9th day of the lunar calendar), many gold shops have had more customers than usual. |
At 2 p.m., DOJI Jewelry Company listed the price of SJC gold bars at VND36.82 - 37.52 million per tael. Similarly, the price of SJC gold bars at Phu Nhuan Jewelry Company (PNJ) was also around this level.
Thus, compared to the opening price this morning, each selling price was 70,000 VND more expensive. On the contrary, the buying price decreased, being pulled down even lower than when the opening price was at 8am.
The trend of widening the buying and selling range, increasing the selling price and lowering the buying price, is being applied by gold shops during this year's God of Wealth season. Instead of the difference of only 100,000-200,000 VND per tael as usual, the buying and selling prices at gold businesses are now 700,000 VND per tael apart.
Compared to 3 days ago - January 6 - the first working day of the year of Mau Tuat, the price of SJC gold bars was nearly 400,000 VND more expensive per tael.
Gold bar businesses this year predict that they will welcome a 30% increase in customers compared to the 2017 God of Wealth season. All major gold businesses said they will open early in the morning and only close when they run out of goods on that day.
In recent years, the trend of buying gold on the God of Wealth Day (tomorrow, January 10), with the hope of good luck and prosperity throughout the year, has become increasingly popular. Therefore, on this day, it is not difficult to see scenes of long lines, even jostling to buy a lucky gold bar.
