Customers buying gold see a 30% price reduction.

On February 19th (the 10th day of the first lunar month) - the day of the God of Wealth - gold prices decreased slightly. Reporters observed a higher number of customers buying gold at several gold shops in Thanh Hoa City. However, according to some gold shop owners, the number of customers this year may not be as high as last year.

Video : Customers buying gold on the Day of the God of Wealth at several stores in Thanh Hoa City.

Customers buy gold at Kim Chung Trading Company (Thanh Hoa City).

According to Vietnamese folk beliefs, buying gold on the Day of the God of Wealth will bring fortune, luck, and prosperity. Therefore, people often buy gold on this day to pray for good luck, wealth, and prosperity throughout the year.

Therefore, on the Day of the God of Wealth, the price of gold on the market always fluctuates in an upward direction. However, in 2024, for the first time, the gold market recorded a decrease in gold prices before and on the Day of the God of Wealth.

The price of gold is listed at the store.

Early morning on February 19th, the price of gold listed at Kim Chung Gold and Silver Trading Company was 6,410,000 VND/ounce for buying and 6,540,000 VND/ounce for selling. This price has somewhat "cooled down" compared to recent days and decreased by 10,000 VND/ounce compared to the afternoon of February 17th.

Observations on Le Hoan Street – the "gold street" of Thanh Hoa City – show that many gold shops such as Kim Chung, Kim Lien, Phu Gia, DoJi , etc., are experiencing a higher-than-usual number of customers buying gold. It is known that, in preparation for this occasion, gold and silver businesses have prepared many modern and unique product designs.

Kim Trinh gold shop on Tong Duy Tan street was deserted on the day of the God of Wealth festival.

Meanwhile, at small gold shops, despite displaying eye-catching advertising banners and offering New Year's lucky money gifts, the number of customers recorded early in the morning was still quite sparse, contrary to the usual pattern on the God of Wealth Day in previous years.

Ms. Le Thi Lien, owner of Kim Trinh Gold shop on Tong Duy Tan Street, Lam Son Ward (Thanh Hoa City), said: "This year, the economic situation is difficult, and people have low levels of money. Although the price of gold has decreased compared to previous days, purchasing power is lower than in the same period last year."

These gold designs are a popular choice among consumers.

According to our reporter's observations, as usual, gold pieces weighing from 1 to 5 taels (approximately 37.75 grams) remain the most popular choice among consumers. In addition, products such as plain gold rings, gold statues of the God of Wealth, and gold tigers are also preferred by higher-end customer segments.

By late afternoon on February 19th, the prices of gold jewelry remained unchanged compared to the morning, and the number of customers visiting gold and silver shops and businesses in Thanh Hoa City had returned to normal levels. According to many shop owners, this year the number of customers buying gold has decreased by about 20 to 30% compared to last year due to the high gold prices and the impact of the economic recession.

Le Hoa - Khanh Phuong

Source: https://baothanhhoa.vn/kinh-te/ngay-via-than-tai-nam-2024-khach-mua-vang-giam-30/207071.htm