This week, gold prices have been fluctuating upwards, making the market in Ha Tinh even more vibrant.
Customers buying gold at Phuong Xuan gold shop (Ha Tinh City).
By late afternoon on October 14th, gold and silver shops in Ha Tinh City had all adjusted their selling prices upwards by approximately 40,000 VND per tael compared to the previous day.
At Mai Xuan gold and silver shop (Ha Tinh City), the buying price of 9999 gold is 5,670,000 VND/tael, and the selling price is 5,760,000 VND/tael. At Viet Ha gold and silver shop, the buying price of 9999 gold is 5,680,000 VND/tael, and the selling price is 5,760,000 VND/tael.
Ms. Bui Dieu Huyen, owner of Mai Xuan gold shop, said: “In the past week, gold prices have fluctuated and increased continuously in line with world gold prices. At times, we had to adjust prices 2-3 times a day. Currently, the price is about 2.5 million VND/ounce higher than the price on the day of the God of Wealth festival (the 10th day of the first lunar month). Therefore, people who bought gold at the beginning of the year are now making a profit by selling it, so many are taking advantage of the opportunity to sell and lock in their gains.”
Trading was bustling at Viet Ha gold shop (Ha Tinh City) on the afternoon of October 14th.
The daily increase in gold prices has made transactions at gold shops in Ha Tinh City more active. Ms. Nguyen Huyen Trang (Thach Ha commune, Ha Tinh City), who had just bought gold at Viet Ha gold shop, said: “I have been monitoring gold prices recently and see that they are trending upwards. However, with low bank interest rates at the moment, I'm not keen on continuing to deposit money. The trend is that gold will increase towards the end of the year, coupled with rising global prices, so I just withdrew my savings to buy gold. In the long term, even if gold prices fall, it still seems safer than other investment channels like bonds and real estate.”
Many women buy gold to celebrate Women's Day on October 20th.
In particular, this period coincides with the Vietnamese Women's Day on October 20th, so many people choose to buy gold as gifts for women, leading to an increase in transactions at gold shops. This is also the time when many families hold wedding ceremonies for their children, so the demand for gold is higher than it was a month ago.
Customers conducting transactions at Mai Xuan gold shop (Ha Tinh City).
Ms. Le Thi Anh Tuyet – Deputy Director of Phuong Xuan Gold and Silver Joint Stock Company (Ha Tinh City) shared: “Three weeks ago, the price of gold peaked at 5,780,000 VND/tael for the selling price. After that, the price of gold continued to fluctuate up and down constantly, and for about a week now, it has been increasing daily. Because of the fluctuating gold prices, the volume of transactions at the store has also increased. Compared to normal days, transactions at the store have increased by about 30%.”
According to gold shop owners in Ha Tinh, the price of gold is currently trending upwards as the conflict between Israel and Hamas intensifies. Therefore, the gold market is expected to continue experiencing active trading in the coming days. Furthermore, as the year draws to a close, the demand for gold increases, so gold and silver businesses in Ha Tinh are preparing large quantities of goods to meet customer needs.
Phan Tram - Thu Phuong
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