On the morning of April 21, Tran Nhan Tong gold street in Hanoi was still crowded with people buying gold, despite the strong fluctuations in gold prices.

At major gold stores such as Bao Tin Minh Chau, Phu Quy, and SJC, lines of people lined up early, creating a familiar bustling, crowded scene. In particular, Bao Tin Minh Chau's store continued to be a "hot spot" when recording long lines of buyers, even though this business had limited the maximum sales to only 2 taels per person to avoid the situation of hoarding large quantities of goods.

Similarly, at the SJC store, according to VietNamNet reporters , by around 9am, there were only about 20 people left in line when the staff there announced that they would stop accepting more customers, causing many people who arrived later to sadly turn back.

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Gold price has dropped from the peak of 120 million VND/tael, causing many people to line up to buy. Photo: Ngoc Cuong

The listed gold price at Bao Tin Minh Chau this morning fluctuated at 114.5 million VND/tael (buy) and 118 million VND/tael (sell). This is a price that has recovered after a steep fall at the end of last week, when the gold price had soared to nearly 120 million VND/tael.

However, the price movement does not make individual investors feel apprehensive. On the contrary, many people consider this a “golden” opportunity to buy.

Mr. Doan Van Hoi (Hai Ba Trung district), an individual investor with 5 years of experience in the gold sector, shared: “I have been following the market for the past month. Gold prices have been increasing continuously, from over 80 million to nearly 120 million VND/tael in a short period of time. The decrease at the end of the week is understandable - simply a technical adjustment. I think the current price is still low if we look at the medium and long-term trend. The limitation of sales quantity only shows that supply is becoming scarce."

Similarly, Ms. Nguyen Thi Hoai (Dong Da district) - a gold buyer who is saving for later use - is not too worried about the recent price drop.

“This morning I bought 2 taels at Bao Tin Minh Chau. The price dropping below 117 million is reasonable, compared to 120 million last week. Gold is only temporarily stagnating, I believe it will continue to increase strongly, especially in the context of the world still having many uncertainties,” Ms. Hoai shared.

Showing his understanding of the world market, Mr. Bui Hai Ha (Tan Trieu Commune, Thanh Tri) said that the Vietnamese people's psychology of hoarding gold is currently very strong. If geopolitical tensions and global inflation do not cool down, gold will continue to be a safe haven in the long term, not only for domestic people but also for international investors.

According to a gold shop owner, the market is currently reacting mainly based on psychological factors rather than price fluctuations.

“Customers rushed to buy because they were afraid of missing out if gold continued to surpass its peak. The drop last weekend may have made some people hesitate, but for the majority, it was an opportunity to buy. For them, this is a ‘drop to buy’. Gold has never cooled down,” the gold shop owner affirmed.

After 'evaporating' more than 6 million VND/tael, gold prices reversed and increased sharply . Domestic gold prices early this morning (April 21) reversed and increased by 3 million VND/tael compared to the closing price of last week, due to the sharp increase in world gold prices.

Source: https://vietnamnet.vn/gia-vang-bien-dong-du-doi-khach-quay-kin-tiem-vang-2393382.html