Disappointed for not being able to buy gold

TPO - Many large gold shops no longer have SJC gold bars, and gold rings are only sold in small quantities, with each person only able to buy a few cents. Many people who come to gold shops are frustrated because they cannot buy this precious metal despite the record high price.

TPO - Many large gold shops no longer have SJC gold bars, and gold rings are only sold in small quantities, with each person only able to buy a few cents. Many people who come to gold shops are frustrated because they cannot buy this precious metal despite the record high price.

On the afternoon of March 6, at Saigon Jewelry Company Limited – SJC on Nguyen Thi Minh Khai Street (District 3, HCMC), many customers were disappointed because they could not buy gold.

Disappointed because I couldn't buy gold photo 1

Customers wait to get gold at SJC Company when the price reaches 93 million VND/tael

Disappointed because I couldn't buy gold photo 2

Gold prices are sky high but having money doesn't mean you can buy gold easily

Ms. Phuong Vy (41 years old, living in Binh Tan district) turned back after parking her car for less than 5 minutes, feeling frustrated because she had traveled more than 25km but could not buy any gold. SJC Company has switched to selling gold bars online instead of selling directly. As for gold rings, each customer can only buy 5 coins/day. However, there are not enough gold rings left for everyone to buy.

“Registering to buy SJC gold bars online through banks or SJC Company is very… hit or miss. I have never been successful in registering, and to buy gold from a bank, you need to have an account with that bank,” said Ms. Vy.

Disappointed because I couldn't buy gold photo 3

SJC Company currently only sells SJC gold bars online, while gold rings are only 5-centimeter in size and the quantity is also not much.

Disappointed because I couldn't buy gold photo 4

A customer brought a large amount of SJC gold bars to sell when the buying price reached 91 million VND/tael.

According to SJC employees, the gold shop has switched to selling gold bars online for nearly 10 days now. When customers successfully register to buy gold, they will receive a message to receive gold within the day.

At the PNJ Next store on Hai Ba Trung Street (District 1), the staff said they were out of SJC gold bars, there were still gold rings but not many.

Mi Hong Gold Shop (Binh Thanh District), the number of customers coming to buy and sell gold has also decreased compared to the previous days. This shop still has a lot of gold rings and gold bars, but only SJC gold bars of 1 tael are left, no more individual gold bars. "If we have gold rings and gold bars from customers coming to sell, we will bring them out to serve the shopping needs of customers until they run out" - a gold shop employee said.

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Mi Hong Gold Shop currently has a lot of SJC gold rings and gold bars, however, they are out of 1-tael gold bars and only have 1-tael gold bars left.

On the afternoon of March 6, SJC Company listed SJC gold bars for sale at 93 million VND/tael and for purchase at 91 million VND/tael. This price has remained stable since the beginning of the day. SJC sold 9999 gold rings at 92.9 million VND/tael and purchased at the same price as gold bars at 91 million VND/tael.

At Mi Hong, the listed price of SJC gold bars is 92.9 million VND/tael for sale and 91.9 million VND/tael for purchase. 9999 gold rings here are also traded at almost the same price as gold bars. The gap between the buying and selling prices at Mi Hong is only 1 million VND/tael.

At Phu Nhuan Jewelry Company (PNJ), PNJ listed 9999 plain gold rings for sale at 93.2 million VND/tael, and for purchase at 91.8 million VND/tael. Today's Bao Tin Minh Chau gold price for gold rings is 93.4 million VND/tael for sale and 92 million VND/tael for purchase.

According to many economic experts, the price of gold rings could reach 100 million VND/tael in 2025 with a probability of up to 70%. One of the main reasons why the price of gold rings continues to increase is due to the strong fluctuations in world gold prices. Geopolitical tensions and global factors are strongly affecting gold prices, causing world gold prices to continuously set historical peaks.

In addition, the need to store gold in Vietnam is also an important factor. People still maintain the habit of buying gold as a safe asset in the context of economic fluctuations and decreasing bank interest rates.