Gold price fluctuates, Hanoians jostle to buy gold
Gold shops yesterday (September 20) were overcrowded with buyers with the trading volume higher by 2-3 times than ordinary days. People rushed to buy gold even though the domestic price is much higher than the world’s price, and the supply is profuse after enterprises have got the quota for import.
People rushed to gold shops on September 20
People came to gold shops early in the morning, after hearing that the SJC-brand gold price decreased to the month’s deepest low 46.4-46.6 million dong per tael. And they rushed to gold shops later on the day on the news that the gold price moved up slightly, because they feared that a new price increase wave would begin.
“There were so many buyers that we did not have break time,” a senior executive of DOJI, a gold, silver and precious stone trade group. The trading volume at the group had reached 7000 taels by 4 pm of September 20, which was double that of ordinary days.
Most of the customers bought tens of taels of gold, others bought several taels, while a few of them bought up to 100-200 taels of gold.
Bao Tin Minh Chau has also reported the sharp increase in the trading volume in comparison with previous days. There were nine buyers out of every 10 visitors.
Nguyen Thi Cuc, Deputy General Director of PNJ, also said that yesterday was really a bustling business day, since the gold price decreased to the lowest level so far this month. PNJ sold 3600 taels of gold yesterday and bought 900 taels.
“It’s so strange that the gold purchase wave can be seen in HCM City as well,” Cuc said.
According to Nguyen Cong Tuong, a senior executive of SJC, people rush to buy gold because they believe that the gold prices have become low enough to purchase. The trading volume of SJC’s chain was 9000 taels yesterday, and most of customers were buyers.
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Tags: vietnam gold, Vietnam gold market, Vietnam gold prices
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