Customers are sad when gold prices continuously peak

Customers are sad when gold prices continuously peak 6
Customers are sad when gold prices continuously peak 6

Late today (July 9), Saigon Jewelry Company (SJC) continued to increase 250,000 VND compared to the morning, bringing the selling price of gold bars to a new peak of 50.8 million VND per tael.

Similarly, DOJI Jewelry Group listed the buying and selling price at the end of the day around 50.25 – 50.65 million VND per tael, 200,000 VND higher than at noon, and 470,000 VND more expensive than yesterday.

Although gold prices continue to rise and record new historical milestones, market transactions are quite quiet.

`It’s going up really fast, but I have to say there are no customers here,` Ms. Thai said, then returned to her unfinished lunch.

Similar to Ms. Thai, many stores in this area also had few customers even though the price of gold bars at 12:00 noon on July 9 was pushed up to 50.62 million a tael by the Saigon Jewelry Company (SJC).

Most owners and employees here still leisurely chat or scroll on their phones.

Many stores at Ben Thanh Jewelry Center were empty at noon on July 9.

In Hanoi, VnExpress’s survey at many gold shops also showed that the trading atmosphere in the early afternoon of July 9 was quite quiet.

However, there are also a few spots with local excitement.

Ms. Hoan, living in Hoan Kiem district – a customer who was trading at this gold shop at 1pm, said that she bought gold when the price was under 40 million VND per tael, now she takes a few profit and leaves most of it for future use.

Customers are sad when gold prices continuously peak

Investors monitor prices at Bao Tin Minh Chau store on the afternoon of July 9.

Talking about the gold bar trading situation when the price exceeds the 50 million VND mark, a representative of DOJI Jewelry Group said that domestic demand is not sudden, making trading at many gold and silver centers less exciting.

This is completely different from previous gold price increases when investors had to wait in long lines to buy or sell gold.

Meanwhile, the owner of a gold shop on Doan Van Bo Street, District 4 said that the majority of shops with no customers do not represent the entire situation of the precious metals market.

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