Gold market is bustling at the end of the year

Near Tet, the number of people coming to gold shops to make transactions is quite large. Photo: Thanh Phuc

After a year of hard work, receiveTet bonusand at the same time 2 months salary, Ms. Nguyen Minh Tuyet in Quan Bau ward (Vinh city) decided to buy 2 taels of gold as a "reward" for herself, and also to save for emergencies. Ms. Minh Tuyet said: "Receiving many payments at once, I added more money to buy 2 taels of plain round rings. Otherwise, during Tet, the money will be spent forever."

Having two children working in Japan, not returning home for Tet, she sent some money back to her parents for shopping. Not using it for Tet shopping, Ms. Trinh Thi Xuan in Dai Dong commune (Thanh Chuong) went to a gold shop in Dung town to buy 3 taels to store. "There are only the two of us during Tet, so we don't need to buy much, we can provide for Tet food ourselves, so the money my children send back buys gold to store. I buy it and keep it there, when I need it, I can sell it, otherwise I just keep it for emergencies," Ms. Xuan shared.

With a surplus at the end of the year, many people choose to buy gold to store. Photo: Thanh Phuc

According to the ownergold and silver shop,Gold transactions at this time increased by 20-30% compared to before. The amount of gold sold is mainly due to people wanting to store the assets they have made in the past year; in addition, many agencies and businesses doing well also choose gold as gifts for partners and bonuses for employees.

Ms. Mai Anh - Director of a limited liability company specializing in gold and silver trading on Cao Thang Street (Vinh City) said: "Most people buy SJC gold bars and 9999 plain round rings, because their need is to store, so these types have many advantages, and rarely lose value.

People choose to buy plain round rings and gold bars. Photo: Thanh Phuc

Besides, 5-pan, 1-chi gold jewelry and gold leaf are also chosen by many companies as gifts. Compared to 1 month ago, sales increased by about 30%".

At the end of the year, many peoplebuy gold to store,consider it as a savings asset. In addition, the custom of buying gold is also an action to help erase the bad luck of the past year, welcoming a new year of fortune. Besides, there are many people who buy gold jewelry to "wear" on Tet. At the same time, many gold and silver stores have year-end stimulus programs such as: Giving Tet gifts (wall calendars, cups, vases) or giving discount coupons, giving shopping vouchers and many other after-sales programs. That is the reason why the gold market is more vibrant at the end of the year.

Many gold shops offer promotions and Tet gifts to stimulate shopping. Photo: Thanh Phuc

The demand for gold has increased, but in recent days, the price of gold has not fluctuated much. Domestic gold prices have tended to increase slightly, around 66.5-67.5 million VND/tael; 9999 round rings cost 5,450,000 VND - 5,500,000 VND/tael.