Just a few minutes after the opening of the trading session this morning (September 4th), on the official website and fanpage of Bao Tin Minh Chau, a prominent gold brand in Hanoi, customer service staff announced: “All BTMC stores are temporarily out of VRTL plain circular rings, VRTL gold bars, and SJC gold bars. BTMC is not currently taking advance orders for plain circular rings or gold bars. BTMC is still trading jewelry products as usual.”
Announcement from Bao Tin Minh Chau’s customer service staff this morning.
According to Ms. N.B.N., an office worker in Hanoi, she was informed of a similar situation when she visited the Bao Tin Minh Chau store in Cau Giay District this morning; they were also out of gold rings and bars.
According to the online price list at Bao Tin Minh Chau, the price of gold rings is currently around VND 126.5 – 129.5 million/tael, while SJC gold bars fluctuate around VND 132.4 – 133.9 million/tael.
It’s not just Bao Tin Minh Chau; a shortage of stock has also been observed at several other brands. For instance, at Bao Tin Manh Hai gold shop, customer service staff stated that customers who wish to purchase gold rings or bars would need to place an order in advance, with an estimated waiting time of about 10 days.
Recently, domestic gold prices have continuously reached new highs. Within just two weeks, plain circular rings and SJC gold bars have increased by nearly VND 10 million per tael. Gold bar prices at many businesses fluctuate around VND 132.4 – 133.9 million/tael. Other gold brands also maintain high prices for plain circular rings, with PNJ listing them at VND 125.8 – 129.9 million/tael and DOJI at VND 126.3 – 129.3 million/tael.
This development indicates that the precious metal market remains highly attractive, as the demand for safe-haven assets persists.
Dr. Nguyen Tri Hieu, a finance and banking expert, advised that investing in gold, especially at peak prices, requires a medium to long-term orientation. Short-term speculation in a volatile market entails significant risks.
He analyzed that when gold prices surge, early buyers may tend to sell to take profits, causing short-term corrections. Therefore, a long-term hold strategy aligns better with gold’s nature as a defensive asset with low risk.
The expert recommended that investors clearly define three core criteria when allocating their assets: capital safety, profitability, and liquidity. Based on these criteria, individuals can construct portfolios tailored to their risk appetite, loss tolerance, and profit expectations.
The Golden Contrast: A Tale of Soaring Prices
The gold price surge has left small jewelry shops in a peculiar predicament. While a rise in gold prices typically signals prosperity for gold businesses, smaller retailers are facing a unique challenge. Their primary focus on jewelry sales becomes a double-edged sword when customers flock to purchase gold bars and coins instead. This shift in demand dynamics has small jewelry retailers struggling to adapt, witnessing a stagnant business despite the favorable market conditions.
The Alluring Gold Rush: Crowds Flock to Jewelry Stores as Prices Soar to Historic Highs
At 9 a.m. on September 4th, hundreds of people lined up outside Bao Tin Minh Chau jewelry store on Cau Giay Street, Hanoi.
The Unaffordable Gold Conundrum: A Tale of Wealth and Woes
This morning, gold prices surged to unprecedented levels, with SJC gold bullion reaching a staggering 130 million VND per tael, and gold rings nearly touching the same milestone. An unprecedented surge in demand from buyers has left gold businesses depleted, with some retailers running out of stock entirely, resulting in waiting periods of up to 15 days for eager customers eager to get their hands on the precious metal.
The Golden Rush: Long Queues for Gold Rings in Ho Chi Minh City
The SJC gold bar price has hit a new peak, yet the supply remains scarce. As a result, many consumers are turning to gold rings as an alternative.
The Golden Rush: Gold Prices Soar to Record Highs, Flirting with the 127 Million Dong per Tael Mark
The SJC gold bar price has officially soared to a new peak of VND 125.9 – 126.9 million per tael. This unprecedented surge marks yet another pinnacle for the precious metal’s value.
