Gold price in Nghe An slightly decreased, people rushed to buy
After several overwhelming increases, this afternoon, gold prices in Nghe An decreased slightly. People took advantage of the opportunity to buy for investment, so purchasing power increased.
In the trading session this afternoon, March 20, in Nghe An, gold prices decreased slightly in both selling and buying directions.
Specifically, at Kim Thanh Huy gold shop (Cao Thang street, Vinh city), the price of 9999 round gold rings is 10,150,000 VND/tael (selling) and 9,750,000 VND (buying).
At the gold shop of DOJI Gold and Silver Group, Nghe An branch, the price of 9999 round plain gold rings is 10,010,000 VND/tael (sell) and 9,890,000 VND/tael (buy).
At Nhu Trinh gold shop (Yen Thanh), 9999 round plain gold rings are 10,070,000 VND/tael (sell) and 9,670,000 VND/tael (buy).
At Ngoc Huong private gold shop (Thanh Chuong), 9999 round plain gold rings are 10,010,000 VND/tael (sell) and 9,700,000 VND (buy).
At this price, 9999 round plain gold rings in Nghe An have decreased by 50,000 - 70,000 VND/tael, equivalent to 500,000 - 700,000 VND/tael after days of "only increasing, no decreasing".
Faced with this development of gold prices, this afternoon, according to records, the Nghe An gold market has begun to warm up, purchasing power has increased slightly. Ms. Ngoc Huong, owner of a gold shop at Hanh Lam intersection (Thanh Chuong) said: "Although the gold price is still at its peak, since this afternoon, there have been many transactions at the shop, mainly in the selling direction. Although, the amount of people buying is not much, only fluctuating from 1-5 taels".
At gold and silver shops on Cao Thang, Tran Phu, Le Loi streets (Vinh City), gold transactions are more active than in previous days. Many people who want to buy gold have been closely following the price movements over the past few days, but gold prices have continuously reached new peaks, so few people dare to "buy at the top". This afternoon, when gold shops adjusted their prices slightly, many people decided to spend money to buy.
Ms. Nguyen Bich P. (Xuan An town, Ha Tinh) said: “I have a large amount of idle money. In recent days, the price of gold has increased sharply, so I am very worried about my money being wasted and losing value, so I decided to buy gold. The price of gold has increased so much that I have considered it carefully. I have gone back and forth with money several times. This afternoon, when the price of gold decreased slightly, I decided to buy 3 taels.”
Pham Van H. (living in Phuc Loi commune, Hung Nguyen) has a habit of buying gold every month after receiving his bonus. Therefore, whether the gold price is high or low, he still sets aside money to buy gold with the amount of money he has calculated in advance. Mr. H. said: "I plan to buy 1 tael of gold every month to store, since gold was only 5 million VND/tael. Now that the gold price has doubled, I still set aside my income at the end of the month to buy and store."
In addition to those who have idle money investing in gold with the expectation that the price of gold will continue to increase sharply, when gold reaches a new peak, they will "surf" gold to make a profit; some people are afraid of rising inflation, rapid gold price increase, shocking increase causing the currency to lose value, so they turn to gold to shelter their assets. In addition, at this time, when the price of gold has decreased slightly, many people are taking advantage of buying gold for weddings and buying gold to pay off debts.
Although the gold market is somewhat more active, the volume of gold transactions compared to the beginning of the month is only 70%. Meanwhile, in big cities like Hanoi, Ho Chi Minh City, Da Nang, etc., people have to jostle and queue to buy gold. Gold shops have to issue numbers and sell "dripping" but in Nghe An, this situation does not occur. Only a few shops are active, temporarily out of stock at a certain time, but there is no shortage of gold, nor is there a scene of rushing and jostling to buy gold.
