With prices plummeting, many people are buying gold ahead of the God of Wealth Day.

On February 15th, gold businesses resumed operations after the Lunar New Year holiday. Although it wasn't yet the day of the God of Wealth (the 10th day of the lunar month), many people were already buying gold for the new year. At Saigon Jewelry Company (SJC) (Nguyen Thi Minh Khai Street, District 1, Ho Chi Minh City), many customers waited in line for their turn to buy gold rings. Besides gold rings, the display counters also featured gold pieces depicting the God of Wealth, the characters for "Happiness," "Prosperity," and "Longevity," and the 12 zodiac animals…

Ms. VA (Binh Thanh District, Ho Chi Minh City) took advantage of the first day of work after the New Year to buy 3 SJC gold bars for good luck.

Customers buying gold at SJC company on the afternoon of February 15th.

Customers visit gold shops in the Ben Thanh Market area at the beginning of the year.

Customers buying gold on the morning of February 15th at SJC company.

Gold prices opened sharply lower on the first day of the year, with SJC gold bars losing 1.2 - 1.4 million VND/ounce compared to before the Tet holiday. Saigon Jewelry Company (SJC) bought gold bars at 75.2 - 75.4 million VND/ounce and sold them at 77.5 - 77.7 million VND/ounce. Doji Group reduced the price of SJC gold bars by 850,000 VND per ounce, buying at 76.3 million VND/ounce and selling at 78 million VND/ounce… The price of 78 million VND/ounce held steady in the first trading session of the year. SJC gold bars were 18.65 million VND/ounce higher than the world price.

Gold prices fell sharply on the first day of the year.

Customers buy gold rings and small gold bars related to the God of Wealth.

Meanwhile, the price of 9999 gold rings is becoming increasingly expensive, about 5.5 million VND/ounce higher than the world price , despite a slight decrease of about 300,000 - 400,000 VND per ounce. SJC Company is buying at 63.15 million VND and selling at 64.35 - 64.45 million VND; Bao Tin Minh Chau Company is buying at 64.63 million VND and selling at 65.73 million VND; Doji Group is buying at 64 million VND and selling at 65.05 million VND… A representative from SJC Company said that this year's God of Wealth Day (the 10th day of the Lunar New Year) falls on a Monday, the first working day of the week, so the company will be open all day Saturday and Sunday (February 17-18, the 8th and 9th days of the Lunar New Year) to serve customers.

Besides gold rings, many other gold products for the God of Wealth Day are on display.

Global gold prices are at their lowest level in three months, trading at $1,991 per ounce. This represents a decrease of $45 per ounce compared to about a week ago. Gold is under downward pressure following the US announcement of rising inflation figures. This information could potentially lead to the Federal Reserve delaying interest rate adjustments in the near future.

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