Customers at the SJC shop on Nguyen Thi Minh Khai Street, HCM City. Photo by nld.
In the morning trading session of March 8, Saigon Gold and Jewellery Company listed each tael of SJC gold at VND79.80 million for buying and VND81.80 million for selling. The prices of gold rings have increased to over VND69 million per tael.
This marks the highest price recorded price for domestic gold.
The SJC shop on Nguyen Thi Minh Khai Street, HCM City has received many customers.
A customer, Nguyen Duy Ha, said that he came to buy some gold for savings.
"I think that gold prices will continue to rise," Ha said. "When gold prices reached VND62 million per tael, I had intended to wait for a fall but now I have to buy at much higher prices."
Another customer, Pham Nguyen, said she came to sell 10 taels of gold bars and would use the money to buy gold rings.
"The government has recently issued new regulations which may affect the prices of gold bars, so I decided to turn to gold rings for savings," Nguyen said. "I think that gold will bring more profits than bank deposits."
A gold shop on Tran Nhan Tong Street in Hanoi see many customers on March 7. Photo by Tienphong.
A staff member of SJC said they had received more customers than usual.
"Sometimes we run out of gold rings for customers due to the high demand," she said. "We have to give priority to those who had placed orders earlier. This is the first time we've incurred such a situation."
Low bank deposit rates have encouraged people to buy gold instead.
