Gold price exceeds 113 million VND/tael: Crowded with buyers, no one wants to sell - Lang Son Newspaper and Radio and Television

According to the morning of April 16, on the "gold street" Tran Nhan Tong (Hai Ba Trung district, Hanoi ), many gold shops were always crowded with customers waiting to make transactions. Observations showed that most of them came to buy gold and very few customers sold gold.

However, while the demand is very high, the stores are only selling "drop by drop" because of the scarce supply. Accordingly, each customer is only allowed to buy a maximum of 1 tael of gold per day. To increase the supply, the store also announced that it is ready to buy gold from people, but the number of people selling gold today is very limited.

Customers lined up outside the gold shop waiting for transactions.

The rows of seats for gold sellers were empty, while many customers were waiting to buy gold.

Mr. Hoang Van Hai (Dong Da district) said: "Since 9am when I arrived at the store, there were already a lot of people waiting. They lined up all the way out to the street. Through conversation, I learned that most of them were there to buy gold like me because they thought the price would continue to increase and if they didn't buy soon, it would become increasingly difficult to buy.

Today I hope to buy 5 taels of gold but the store only sells 1 tael of gold, so if I want to buy more I have to come back another day."

Mr. Nguyen Van Dat (Bac Tu Liem district) shared: "About a year ago, I bought gold for my son to save for when he gets married. At that time, the price was 78-79 million VND/tael. But today, the price of gold has increased by about 30 million VND/tael compared to that time. It's really hard to believe."

Shops were crowded with customers coming to buy gold on the morning of April 16.

As one of the few people selling gold, Ms. Pham Kim Anh (Tay Ho district) said: "Today I went to sell 30 SJC gold bars to pay off my house construction debt. I bought and stored this gold about 10 years ago for about 33 - 34 million VND/tael. Because the gold had been stored for too long, the casing was old, so the store depreciated 30,000 VND for each tael of gold I had to make a new casing. If I didn't lack money to build a new house, I wouldn't sell this gold, because if I sold it now, I'm afraid that when I have money, I won't be able to buy gold at a cheap price like before."

Gold prices are still increasing. This afternoon, at 2 p.m., the price of gold bars was 111.4 - 113.9 million VND/tael. The price of gold rings at Doji was 110.2 - 113.2 million VND/tael and at Bao Tin Minh Chau it was 111.4 - 113.9 million VND/tael. Compared to early morning, each tael of gold bars by the afternoon had increased by 5.9 million VND/tael and gold rings by nearly 7 million VND/tael.

Currently, the gap between buying and selling prices is being widened by stores to 2.5 - 3 million VND/tael, pushing the risk onto gold buyers.

Faced with the sharp fluctuations in gold prices, expert Phan Dung Khanh said that those who want to buy should consider carefully, because buying gold at the peak price will increase the risk of loss.

“ No commodity can increase in price forever. Gold prices have continuously reached new peaks and broken all-time highs, so they can stop increasing or reverse at any time. Investors are at risk of losing money right after buying gold,” Expert Phan Dung Khanh recommends.

Therefore, Mr. Khanh advises people to only spend a very small percentage of their financial capacity when buying gold. At the same time, they should diversify investment channels such as stocks, real estate or government bonds...

Forecasting the short-term price movement of gold, experts said that the current environment is still favorable for gold prices to increase. However, the path to conquering new price levels of this precious metal will not be smooth. In the short term, gold may encounter some obstacles. Traders are waiting for the next major fundamental development to boost the gold market, but the current safe-haven demand still exists.

Source: https://baolangson.vn/gia-vang-vuot-113-trieu-dong-luong-dong-nghet-khach-mua-khong-ai-muon-ban-5044243.html