Busy preparing for "God of Wealth Day"
The domestic gold market is heating up after the Tet holiday and the "God of Wealth Day" (January 10, February 25).
Currently, gold trading companies are rushing to prepare "unique" products in large quantities to serve customers.
Variety of designs
Glosbe Jewelry Company with products specially designed for the God of Wealth Day such as Dog coins (Mau Tuat) called "Kim Tuat Coins" representing fortune, prosperity, and wealth, respectively, in sizes of 1 chi, 2 chi, and 5 chi. Phu Quy Group launched the "God of Wealth and Fortune" collection. The collection includes two main colors: Gold for wealth and red for more luck and prosperity. There are many products such as: 12 zodiac animal fortune sets, plain round rings, 12 zodiac animal gold carvings, gold jewelry... The God of Wealth gold medallion made of 24K gold (999.9) with a weight of 1 chi and 5 chi is also a prominent product in the collection.
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Customers choose to buy gold at a store on Tran Nhan Tong Street. Photo: Pham Hung |
National Retail Director of Phu Nhuan Jewelry Joint Stock Company (PNJ) Tran Thi Thu Ha said that in spring 2018, PNJ continues to launch the mascot product line of the year - Kim Khuyen (Golden Dog) - a symbol of the year of Mau Tuat and also a familiar and noble mascot in feng shui. In addition, PNJ also introduced to the market the product sets of Phuc - Loc - Tho statues, the statue of the Goddess of Mercy, Thien Loc Pi Xiu, the painting of Lien Hoa Khai Phuc, Kim Thiem Chieu Tai with sophisticated designs on 24K gold material with the message of praying for health, fortune, and peace.
DOJI Group with the message "Kim Tuat prays for luck - Than Tai dat phat" launched on the market including: Kim Tuat Cau May, Kim Tuat Chieu Tai, Than Tai Thinh Vuong, Than Tai Dat Phat. "However, in the year of Mau Tuat, the image of a dog made of 24K gold (999.9) is a lucky mascot and is considered a symbol of wealth and prosperity and is produced the most" - said a DOJI representative.
While the world gold price continued to fall to around 1,330 USD/ounce under profit-taking pressure and pressure from the USD, on January 22, the price of SJC gold increased by 60,000 - 100,000 VND/tael, about 800,000 VND/tael higher than the converted world gold price. Accordingly, DOJI gold traded at 36.98 - 37.18 million VND/tael; PNJ at 36.95 - 37.40 million VND/tael. Gold traders said that people have begun to rush to buy gold at the beginning of the year to pray for luck according to folk beliefs. This move is expected to help domestic gold not fall too deeply. |
No shortage
According to experts, the gold market will certainly be bustling over the weekend, leading to strong fluctuations in gold prices. Because according to the concept of many people, especially business people, buying gold at the beginning of the year on the "God of Wealth Day" will bring luck and fortune throughout the year. Therefore, everyone wants to buy for themselves and their loved ones, at least a few taels, at most a whole tael of gold for luck. However, experts say that this year on the "God of Wealth Day" there will not be a shortage of goods because gold trading companies have a "shortcut" strategy, preparing a large supply.
This is completely reasonable when large gold trading units such as DOJI, SJC, PNJ, AJC, Bao Tin Minh Chau have all prepared their supply sources to serve customers' needs quite carefully. Accordingly, the sales points of major brands will open early to serve customers. In particular, to avoid the situation of long queues like every year, some gold corporations and companies have planned for customers to order, pay in advance and receive a gold delivery appointment on the "God of Wealth Day" at the business establishments of the enterprise.
As for agents, wholesalers, and gold enterprises, they have now begun accepting deposits and registering quantities. “PNJ has planned to produce early since mid-2017, and the store system will close later than usual so that customers can come and buy and own the God of Fortune Day gold products as desired. In particular, PNJ commits to stable prices according to the market to help consumers feel secure in shopping and “bring” luck to their families in the new year” - Ms. Tran Thi Thu Ha, PNJ Company said.
Meanwhile, DOJI said that last year it had prepared carefully with more than 200,000 products specifically for the “God of Wealth Day”, but by mid-afternoon, most of the products had been sold out, leaving only gold bars and plain rings. This year, the company plans to supply the market with three times the quantity of last year to meet the needs of buyers nationwide.
Commenting on the gold market in 2018, Vice President of the Gold Business Association Nguyen Thanh Truc said that the market in 2018 may be more vibrant but there will be few breakthroughs or big “shocks”. This is because the stock and real estate markets will continue to thrive to attract capital flows, as the economy next year is forecast to have many improvements. |