Small gold bars sold out on God of Wealth Day

SGGP
This year, the Day of the God of Wealth (the tenth day of the lunar New Year) is the same day with Valentine’s Day; therefore, gold stores, flower shops and chocolate shops have seen lots of customers going shopping on February 14.

People buy gold on the Day of the God of Wealth in Da Nang. ( Photo: SGGP)

People buy gold on the Day of the God of Wealth in Da Nang. ( Photo: SGGP)

The Saigon Jewelry Company bought gold at VND36.75 million per tael (1.2 ounces), down VND30,000 per tael and sold at VND37.07 million, up VND30,000 per tael compared to the previous day.
Doji Gold and Gems Group listed buying price at VND36.80 million per tael, down VND50,000 per tael and selling price at VND37.5 million per tael, up VND100,000 per tael compared to the previous day. Sales of gold jewelry also suddenly increased compared to normal days.
Representative of PNJ store in Nguyen Van Nghi Street in Go Vap District said that although the number of customers went to the store to buy gold bars on February 13 doubled that in normal days, more than 3,500 gold items relating the God of Wealth at the store had been quickly sold out right in the morning. Similarly, gold bars of one or two chỉ (3.75 gram) had been all sold out by noon at PNJ Next in District 1. Whoever wanted to buy this kind of gold bars had to register in advance and wait for the store to transfer gold bars from other stores.
Not only 24-karat and 18-karat gold bars inscribed with Tài (Wealth) and Lộc (Prosperity) words but also gold bars of one, two and five chỉ were much in demand. However, most gold stores ran out of them. SJC Company in Nguyen Thi Minh Khai Street in District 3 announced that gold bars of one, two and five chỉ were sold out.
Representative of SJC said that gold bars of one, two and five chỉ had been sought by several customers but the supply was short because the State Bank of Vietnam had not granted permission for the company to produce this kind of gold for many years. Supply was from buying back from its customers only thus gold bars of one, two and five chỉ were rare.
On this day, the gap between buying and selling prices was extended to nearly VND1 million per tael. Particularly, at DOJI gold store in HCMC, SJC’s gold was bought at VND36.6 million and sold at VND37.5 million, a difference of up to VND900,000 per tael between selling and buying prices. Other gold traders also widened the gap to more than VND400,000 per tael.
From 5 a.m on February 14, people had lined up before gold stores in Tran Nhan Tong, Xa Dan and Cau Giay streets in Ha Noi waiting to buy gold for luck on the God of Wealth Day. According to a gold store’s employee in Tran Nhan Tong Street, the number of customers buying gold was lower than that in previous year because the God of Wealth Day this year falls on weekdays so most customers had to make use of their lunch break to buy gold. The amount of gold sold was much lower than previous year. Most customers asked for gold bars of half to five chỉ. There were not many customers buying gold bars.
In Da Nang, as people flocked to buy the precious metal, its price climbed heavily, fluctuating around VND37.1 million. The price of the God of Wealth gold coin was VND3.86 million per chỉ. Because the Day of the God of Wealth is the same day with Valentine’s Day this year, bullion purchasing power was stronger than previous year. Trading at gold stores was extremely vibrant.

By Staff writers – Translated by Thuy Doan

Other news