Gold market on God of Wealth day 2024: Diverse designs, reduced purchasing power

– According to folk beliefs, the 10th day of the first lunar month every year is the God of Wealth’s day. Buying gold on this day will bring luck and fortune for the whole year. To meet consumer demand, gold and silver shops and businesses in Lang Son city have introduced a variety of designs with clearly listed prices, however, purchasing power this year has decreased by about 5-10% compared to last year.

Customers buy gold on God of Wealth day

As of 10:30 a.m. on February 19 (January 10), the buying price of 24k gold was VND 64.20 million/tael, the selling price was VND 65 million/tael (an increase of about VND 10.6 - 10.7 million/tael compared to the same period in 2023); at Phu Nhuan Jewelry Joint Stock Company, Lang Son Branch (PNJ Lang Son), SJC 999.9 gold bars had a buying price of VND 75.80 million/tael, the selling price was VND 78.40 million/tael (an increase of about VND 10 million/tael compared to the same period in 2023)...

This year, to attract customers, stores have launched many products with eye-catching designs, sophisticated carvings, in line with trends such as designs printed with the 12 zodiac animals, unique products inspired by dragons, money rings, fox rings... Especially at some famous gold and gemstone brands such as PNJ, DOJI , they also launched gold bar models in sets of 3 or 6 pieces engraved with the words: "Loc - Phat - Tai", "Phu - Quy - An"...

According to the reporter's records, at gold and silver shops and establishments in Lang Son city, customers have started to buy sporadically since January 6, with the largest concentration on January 9 and 10. However, according to many establishment owners, this year the number of customers buying gold has decreased by about 5-10% compared to last year due to high gold prices and the impact of the economic recession.