Gold price predicted to increase to 100 million VND/tael, many people queued for hours waiting to buy

Customers line up to buy gold despite the heat

Coming to buy gold at a store on Tran Nhan Tong Street, Mr. Nguyen Van Chinh (Thanh Tri - Hanoi) shared: "I see that the price of gold only goes up. I have money to save at home, the savings interest rate is too low so I bought it to keep as a savings.

They limit the number of purchases, yesterday I queued but couldn't buy much so today I'm queuing again to buy. Yesterday I queued for 3 hours, today I think it will take the same amount of time to get my turn."

Customers lined up despite the heat. — Gold buyers lined up in long lines despite the heat.

Image recorded inside a gold shop in Hanoi on the afternoon of May 10.

Like Mr. Chinh, Ms. Nguyen Thi Lan (Dong Da - Hanoi) shared: "I have kept gold since the price was only 80 million VND/tael. When the price went up, I bought it to store. When I kept money, I saw that the price was too low, so I bought about ten taels of gold to store for my son. I am afraid that gold will increase even more, maybe up to 100 million VND/tael".

Some gold buyers said that because there were too many customers, the store limited the number of purchases. "If you buy 1-5 taels of gold, the store will wait until 15 to return the gold. Today, at 12 noon, there were still many customers lining up like me" - Mr. Luu Hong Son (Nam Tu Liem - Hanoi) shared.

Speaking to Lao Dong reporter, a media representative of a gold and gemstone business in Hanoi said: "These days, the number of customers is crowded from opening to closing. At peak times, customers have to wait quite a long time.

The majority of customers come to buy. Previously, many people bought 9999 plain round gold rings, but now the trend is for many people to choose SJC gold bars. Basically, both of these products are still the most popular items. We are trying to meet customer demand."

Gold price update

Domestic gold price as of 4:30 p.m. on May 10, 2024. — Domestic SJC gold price as of 4:30 p.m. on May 10, 2024.

As of 4:30 p.m. on May 10, 2024, the domestic gold price increased dramatically, officially reaching 92.4 million VND/tael.

SJC gold price is listed by DOJI Group at 90.1 - 91.4 million VND/tael (buy - sell). The difference between buying and selling price is 1.4 million VND/tael.

Price movements of SJC gold at DOJI in recent sessions. Unit: Million VND/tael. Chart: Khuong Duy

Meanwhile, Bao Tin Minh Chau listed the price of SJC gold at 90-91.8 million VND/tael (buy - sell). The difference between the buying and selling price of SJC gold is at 1.8 million VND/tael.

SJC gold price at Saigon Jewelry Company - SJC is listed at 90.1-92.4 million VND/tael (buy - sell).

Not only domestically, precious metals in the world market are also increasing very strongly. As of 4:15 p.m., the world gold price listed on Kitco was at 2,373.5 USD/ounce.