Jewelry market quiet on October 20 holiday

From the afternoon of October 18, SJC gold increased by 50,000 VND/tael, listed at 57.10 - 57.80 million VND/tael, the difference between buying and selling was 700,000 VND/tael. However, the gold market in Nghe An still did not have many fluctuations.

Although the listed price of SJC gold increased by VND50,000/tael, jewelry gold at businesses still did not fluctuate much. Photo: Tien Dong

In front of the main gate of Vinh market, where many large gold, silver and gemstone businesses in Nghe An are concentrated, the number of customers coming to trade and buy is quite quiet. Although it is serving the October 20 holiday, only a few stalls have a few people coming to trade.

Depending on age, people choose different types of jewelry. Photo: Tien Dong

Ms. Dang Ho An - manager of a gold and silver store in Vinh market area said: Although the price of SJC gold (a type of gold bar that people often buy to store) increased yesterday, the price of raw gold and gold jewelry remained unchanged. Currently, the price999 round ringThe listed buying price is 5.05 million VND/tael, equivalent to 50.05 million VND/tael; selling price is 5.3 million VND/tael, equivalent to 50.30 million VND/tael.

These days, many men often buy jewelry as gifts for their loved ones. Photo: Tien Dong

According to Ms. An, these days, on the occasion of October 20, the number of customers coming to buy jewelry to give to relatives has increased but not significantly. Depending on age, customers have different needs. In particular, middle-aged customers often choose 9999, 24k gold, which is crafted into rings, fashion necklaces, with high economic value. Meanwhile, young customers often choose western gold or white gold.

Many new products crafted in the shape of flowers were launched on the market on the occasion of the October 20 holiday, creating diversity for customers to choose from. Photo: Tien Dong

Mr. Thang, a customer buying jewelry for relatives at a gold and silver store, said: At this time, you only need to spend from 1.5 million VND to buy a jewelry gift, so many people choose to buy jewelry to give to their relatives. Meanwhile, beautiful bouquets and gift baskets also cost up to millions. Flowers do not last long, while jewelry can be kept for long-term use, so many people choose it.

According to research, not only on the occasion of October 20, recently, the number of customers coming to trade at gold and silver stores are mainly retail customers who come to buy jewelry or round rings for savings. Meanwhile, very few people are interested in SJC gold bars. This is explained by the impact of the Covid-19 epidemic, the difficult economy, so people do not have much money to go shopping for jewelry, gold and silver. That is why the streets that used to be bustling with gold and silver trading in Vinh City in recent times such as Le Loi, Quang Trung, Tran Phu, Cao Thang have become more deserted than before.