Buy early, but where to buy?
Ms. Le Thuy (head of department at a private company located in Phu Nhuan District, Ho Chi Minh City) said that for many years, she has made it a habit to buy gold on the God of Wealth Day, partly to welcome good fortune at the beginning of the year, and partly as a way to preserve her assets . In previous years, when gold prices were low, Ms. Thuy would buy a whole 3-tael set of PNJ products on such occasions, which cost about 10 million VND at the time. However, recently, gold prices have been continuously rising rapidly while the amount of money saved for buying gold has not changed, so she adjusted the amount she buys annually from 3 taels down to 2 taels, and last year it was only 1 tael. "Buying just one tael of gold cost nearly 10 million dong, almost the same as buying three taels six years ago. Learning from experience, this year I'll buy gold now with my Tet bonus because I'm afraid the price will go up even more. But buying gold isn't easy either. I had to queue for hours just to get in, and the shop only sells one tael of 9999 gold ring per person; even if I wanted to buy more, I couldn't," said Ms. Thuy.
Gold businesses are preparing goods to serve customers on the day of the God of Wealth festival.
PHOTO: DAO NGOC THACH
At the Ancarat gold and jewelry store on Nguyen Trai Street (Cau Ong Lanh Ward, Ho Chi Minh City), a Thanh Nien reporter met Ms. Thanh Mai, a customer looking to buy gold rings. When informed by the store staff that they were out of stock, she turned to us and asked, "Do you know of any place that still has gold rings and issues invoices ?" Ms. Mai explained that she was taking advantage of the weekend to buy gold because the upcoming God of Wealth Day falls on a workday, preventing her from leaving the office. However, after spending hours searching from shop to shop, she found that most shops were out of stock, and those that did offer gold didn't provide invoices. She said goodbye and said she would check with gold shops around Ben Thanh Market to see if they still had any.
However, some customers save time buying gold by ordering online through the company's website and receiving delivery at home or picking it up at the store. For example, Phu Nhuan Jewelry Joint Stock Company (PNJ) accepts online orders for gold when customers purchase jewelry. Currently, gold coins featuring a galloping horse and lucky numbers such as 6868 (meaning prosperity), 8686 (meaning wealth), 7979 (meaning great fortune), 3979 (meaning good fortune knocking on the door)... are receiving many orders. Each product weighs 7.9 phân (approximately 9.9 grams), has a gold content of 9999 (999), and is priced at 17.9 million VND.
Mr. Dao Cong Thang, General Director of SJC Company , said that the company currently produces gold products for the God of Wealth Day, including horse-shaped gold bars in 5 phân (approximately 3.75 grams) and 1 chỉ (approximately 3.75 grams) denominations. For gold rings, the products come in 3 phân, 5 phân, and 1 chỉ denominations, allowing customers to choose the most suitable option. However, due to limited raw materials, SJC is focusing on production for sales through its own stores and is no longer distributing wholesale as in previous years. Even the practice of customers providing raw materials for production is no longer being implemented. In addition to preparing goods, SJC has also planned to improve gold sales before and during the God of Wealth Day, such as increasing the number of transaction counters in various areas and separating counters for cash and bank transfers.
Gold businesses are preparing goods to serve customers on the day of the God of Wealth festival.
PHOTO: DAO NGOC THACH
Split the product into smaller portions when gold prices are high.
Historically, the price of SJC gold bars on the God of Wealth Day (2019) has consistently shown an increase year after year. The price of SJC gold bars in 2024 was projected at 78.4 million VND/ounce, double that of 2019, but less than half the current price. On February 8th, the buying price of SJC gold bars by companies was 176.3 million VND/ounce, and the selling price was 179.3 million VND/ounce. The record high for the precious metal reached at the end of January was 191.3 million VND. A representative from PNJ stated that the gold market in 2025 will witness a scarcity of supply amidst continuously record-breaking price levels. Currently, observers predict that gold prices still have significant room to rise, driven by fluctuations in the global precious metals market. Geopolitical risks, exchange rates, interest rates, and supply are key factors influencing the market.
Entering the peak shopping season for Tet (Lunar New Year) 2026, the market is witnessing a dominance of gold jewelry with increasingly diverse designs and types, while the appeal of gold bars and gold foil shows signs of slowing down due to price barriers. Collections of 99% pure gold jewelry attract consumers because they balance the elements of investment value, aesthetics, personalization, and good fortune at the beginning of the year. "For many months now, PNJ Company has been preparing a plan to refresh its product catalog for Tet 2026 (Year of the Horse and God of Wealth). In addition, the company is also developing lines of 99% pure gold jewelry with high practicality, lightweight (1-2 taels), suitable for daily wear while still ensuring investment value," a representative from PNJ Company stated.
Mr. Nguyen Van Dung, Chairman of the Ho Chi Minh City Goldsmiths and Jewelry Association, analyzed: "Because of the rising gold prices, customers who bought gold in previous years believed it was a sign of good fortune. However, with gold prices currently at record highs, the gold market on the God of Wealth Day this year is expected to face significant pressure. Even so, businesses are still focusing on jewelry products for this day. 'Because of the high gold prices, they are boosting production of smaller gold pieces, such as 1 phân, 2 phân, and 3 phân. Dividing the weight into smaller pieces makes it easier for customers to buy within their budget and also meets the demand for 'bringing' lucky gold to many customers. One chỉ of gold is divided into 10 products sold to 10 people, instead of one pack of rings sold to one person. Customers are buying many gold rings, so the shortage of raw materials is becoming even more intense. This also explains why the price of gold rings is almost as high as SJC gold bars,' Mr. Nguyen Van Dung stated."
Heavy penalties for illegal buying and selling of gold bars.
From today, February 9th, individuals engaging in the business of buying and selling gold bars will be subject to administrative penalties depending on the nature, extent, and consequences of their actions, as stipulated in Government Decree 340/2025 on administrative penalties in the monetary and banking sector. Buying and selling gold bars with businesses or credit institutions without a gold trading license will result in penalties ranging from a warning to fines of tens of millions of dong. Producing and trading gold bars without a license will result in fines of up to 400 million dong and confiscation of the infringing gold. Furthermore, transactions involving the purchase and sale of gold worth 20 million dong or more per day by a single customer must be conducted through the customer's payment account and the gold trading business's payment account opened at a bank.
Source: https://thanhnien.vn/kho-san-vang-than-tai-som-185260208211422328.htm
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