Gold price drops but Nghe An people still jostle to buy gold

(Baonghean.vn) – Although this morning (July 7) the price of gold has decreased, at gold and silver shops in Do Luong, Dien Chau districts, Vinh city... there are still more buyers than usual days.

Buyers jostle to buy gold at Nhu Trinh gold shop - Dien Chau town. Photo: Quang An

After hearing the news of the sharp increase in gold prices, Dien Chau residents flocked to gold shops to buy and sell gold. On the morning of July 7, the number of customers was many times higher than usual. At gold shops such as Kim Van Than, Kim Hoa, Nhu Trinh... from early morning and from 10 am today, people came to buy in large numbers and did not know that gold prices had decreased. According to observations at the shop, there were nearly 40 people waiting to buy 9999 gold.

Ms. Ho Thi Hoa, owner of Kim Hoa gold and silver shop in block 4, Dien Chau town, said that due to the gradual increase in gold prices in recent days, the number of people coming to buy and sell increased by about 40% compared to normal days, the customers are mainly people in the district. On the morning of July 7, the price of 9999 gold at Kim Hoa Company Limited, Dien Chau town was listed at 3,560,000 VND/tael for buying and 3,720,000 VND/tael for selling. For 18k gold, the price was 2,200,000 VND/tael for buying and 2,600,000 VND/tael for selling. Silver and gemstone products also increased slightly due to the effect of increasing gold prices.

Crowd psychology and fear of gold increasing further have caused the amount of gold sold in stores to increase. Ms. Nguyen Thi Thom (Dien Hoa, Dien Chau), a gold buyer, said: I bought a few taels of gold to reserve, not a lot, because I am afraid that later when gold increases, I will not be able to buy it anymore.

According to the reporter's observation, gold rings are the best-selling item in Dien Chau.

Customers buy gold at Kim Hoa gold shop in Dien Chau town. Photo: Quang An

People came to see the price and bought a few taels, even whole taels of gold, as recorded by reporters in Do Luong town. As the central district of western Nghe An, transactions at gold shops were 30% higher than previous days and mainly supplied the needs of local households. According to the owner of Ngoc Bao gold shop - a large and long-standing reputable gold shop in the district, "From March to July, the gold market was quite sluggish, people bought very sparingly, seemingly in the exploration phase. In recent days, the number of customers has increased by more than 1/3 compared to before because the domestic gold market has increased in price. This morning, despite receiving news of a decrease in gold prices, there were still people coming to buy gold. Our gold price has dropped to 3,600,000 VND/tael (buy) and sold at 3,800,000 VND/tael, down 50,000 VND compared to yesterday."

Customers buy gold in Do Luong town. Photo by Le Ngoc Phuong.

At Bao Tin Phuong Nam gold shop in Do Luong town, the number of customers coming to buy is quite sparse. The shop owner said: "Compared to other places, the number of customers in Do Luong has increased but not much. Here, a few people often buy to reserve, but very few "surf" gold."

Currently in Do Luong there are about 20 large and small gold shops and yesterday's highest sales volume was several taels/shop.

According to gold shop owners, in the coming days, if the gold price continues to increase slightly, the number of customers coming to trade will also increase, but certainly not as bustling as the times near the end of the year.

In Vinh city, the gold price at the Agribank Gold Branch in the North Central region has decreased compared to yesterday with buying at 3,850,000 VND/tael - selling at 3,900,0000 VND/tael, the buyer has decreased compared to yesterday, July 6.

Le Ngoc Phuong - Quang An