Recorded on Tran Nhan Tong gold street ( Hanoi ) on the morning of May 11, before 8am, many people who wanted to trade gold lined up in front of gold shops, while it was more than 1 hour later (9am) that the shops started to open for trading.

Most customers want to buy more. Many people have pre-ordered and now bring their receipts to get the gold.

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Long lines of people waiting for their turn to trade gold on the morning of May 11. Photo: Tien Anh

Witnessing a line of customers waiting for the door to open to make transactions, a sales staff at Bao Tin Minh Chau said the number of customers buying gold increased dramatically, no different from the God of Wealth's day.

Due to overload, the store decided that customers can only buy a maximum of 2 taels of Thang Long gold and 1 tael of SJC gold.

Due to the long wait, and fear of running out of gold, some people moved to other stores. A few were impatient so they took a chance and asked someone who was there to "buy for them" and compensated them with "a little money for coffee".

Ms. Tran Thi Van (Hai Ba Trung District, Hanoi) said that the price of gold has been increasing rapidly, reaching over 92 million VND/tael. She just withdrew her savings yesterday afternoon and now wants to buy gold to save. "The price of gold is increasing rapidly like this, 200 million VND doesn't know how many taels and how much can be bought," Ms. Van worried.

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People lined up early to wait their turn.

Mr. Tuan (Ba Dinh, Hanoi) said that the world gold price is still increasing sharply, so he is taking advantage of the opportunity to buy more gold to invest and make a profit. "Compared to other investment channels such as stocks and savings, buying gold is the most effective," he said.

With more than 300 million VND, he plans to buy all the gold if the store does not limit the purchase quantity.

Notably, less than 90 minutes after opening, at 10:25 a.m., a Bao Tin Minh Chau gold shop announced "no sale, only buying".

At 11am, another Bao Tin Minh Chau store not far away informed customers that it had temporarily stopped selling round gold rings.

These two stores have restricted customers from entering since 10:30. Since most of the customers come to buy gold, the queues have disappeared since then as many people have left.

It is worth mentioning that the crowded scene only took place at Bao Tin Minh Chau gold shops. Some gold shops of other brands on the opposite side only had a few customers coming in and out.

The domestic price of SJC gold bars fell sharply this morning. The price of 9999 gold was updated by Saigon Jewelry Company Limited (SJC) at 9:46 am and the price of 9999 gold was listed by DOJI Jewelry Group at 9:54 am as follows:

SJC Ho Chi Minh City buys at 88,800,000 VND/tael and sells at 91,300,000 VND/tael. Doji Hanoi and Doji Ho Chi Minh City buy at 88,800,000 VND/tael and sells at 90,300,000 VND/tael.