On March 2, a survey by PV Tien Phong at the gold businesses on Tran Nhan Tong Street, such as Bao Tin Minh Chau, Phu Quy, and Bao Tin Manh Hai, showed that most stores meet the demand for buying plain round rings of the people.
A representative from Phu Quy gold shop said that plain round rings weighing 1-2 taels are still available for sale at prices ranging from 65.9 to 67.4 million dong/tael. Customers can buy whatever quantity they want.
Bao Tin Manh Hai gold business ran out of plain round rings weighing 2 taels/ ring in the morning of March 2. At around 3 pm on March 2, Bao Tin Manh Hai store had plain round rings weighing 0.5 – 1 – 2 taels.
A staff member of Bao Tin Manh Hai store said that since Tet, the number of customers buying plain round rings has increased compared to the previous year. The number of customers buying has increased dramatically, so at some points, the store ran out of plain round rings.
“Many customers share that bank interest rates remain low, while gold prices continue to rise, so they switch to buying gold. Plain round gold products are simple to make and quick to produce, so if customers have a demand, the business will meet it. Customers only need to order about 1 day in advance, and the store will prepare enough plain round gold rings to sell to customers,” said the staff of Bao Tin Manh Hai.
In the Hanoi market, plain round rings are abundant, and there is no shortage of these products.
After surging in the morning trading session, on the afternoon of March 2, the domestic gold prices fell simultaneously. SJC gold prices slipped below the 81 million dong/tael mark.
Saigon Gold, Silver, and Gemstone Company listed the SJC gold price at 77.8 – 80.3 million dong/tael, a decrease of 700,000 dong/tael compared to the end of the morning session on March 2. The price of plain round rings was 65.3 – 66.5 million dong/tael, remaining the same as before.
Doji Group listed SJC gold at 77.85 – 80.45 million dong/tael, a decrease of 400,000 dong/tael in the buying session and a decrease of 500,000 dong/tael in the selling session.
According to economist Nguyen Tri Hieu, gold is a very risky investment channel. Investors should consider carefully when investing in gold. To invest in gold effectively, investors should pay attention to some principles such as long-term investment (at least 6 months), not borrowing money to invest in gold, and not surfing gold.
