Bustling to buy gold before God of Wealth's day

Many gold shops are crowded with customers before God of Wealth Day, but the atmosphere is less exciting than at the same time every year.

On February 18, the 9th day of the first lunar month - one day before the God of Wealth's day, the trading atmosphere at major gold shops across the country became bustling.

In Ho Chi Minh City, two gold shops of the Mi Hong brand are located next to each other on Bui Huu Nghia Street (Binh Thanh District), with customers coming and going busily. At the same time at 1 p.m., there were nearly a hundred people transacting at the two gold shops of this long-standing brand in the southern area.

Customers look at gold jewelry at one of two Mi Hong gold shops on Bui Huu Nghia Street. Photo: Quynh Trang.

Store employees said that the number of customers starts to increase two to three days before January 10 every year. Starting tomorrow, which is the God of Wealth Day, the store will open earlier, at 6 a.m., and will only close when customers stop doing business.

A corner of Mi Hong gold shop was packed in the early afternoon of February 18, the 9th day of the first lunar month. Photo: Quynh Trang

Gold jewelry products, gold coins rings, plain rings and gold bars... are all in high demand. However, the gold jewelry counters recorded the highest number of transactions. Due to the high demand, this gold shop limited each person to buy a maximum of 1 plain ring.

A customer pays to buy gold jewelry on the afternoon of February 18. Photo: Quynh Trang

Other major gold brands also had more active transactions than usual. At 11am at the DOJI An Duong Vuong Jewelry Center (District 5), customers were coming and going continuously. Ms. Tuyen, a sales employee at the DOJI store, said that on normal days the store welcomes several hundred customers each day, but in the past two days, it is estimated that about 2,000 customers have visited each day. Transactions were more crowded in the past two days, but this employee estimated that the number of customers was only about 80% compared to the same period last year.

Customers trading at DOJI An Duong Vuong, District 5, Ho Chi Minh City are more crowded than usual, but according to staff, it is still less than the same period last year. Photo: Quynh Trang

"Yesterday and today, customers usually come in groups and come in and out continuously. Tomorrow, on the day of the God of Wealth, the number of customers is expected to be even more crowded," said a sales staff member of the store.

During the God of Wealth week, this brand promotes gold products pressed in dragon-shaped blisters, or traditional God of Wealth, gold pots... of 1-5 chi. The price of these DOJI products is equal to the price of SJC gold bars and tens of millions of dong per tael higher than gold rings and jewelry. Customers who accumulate enough tael of these types of gold, according to the staff, can also convert them into SJC gold bars.

Gold products pressed in blisters in the shape of dragons, God of Wealth... are being promoted by DOJI for sale on God of Wealth Day with prices as high as SJC gold bars and tens of millions of dong more expensive than plain round rings per tael. Photo: Quynh Trang

At PNJ Nguyen Van Troi (Phu Nhuan), today customers mainly ordered online in advance and came to pick up their gold. Customers came in and out continuously but there was no sign of waiting or crowding.

The representative of this business said that this year the online channel recorded quite good purchasing power, they focused on the collection of 8 one-tael gold pieces embossed with dragons. The image of the dragon is majestic, has many lucky meanings, so it sells better than other zodiac animals.

Customers look at gold jewelry at PNJ Nguyen Van Troi (Phu Nhuan) on the morning of February 18. Photo: Tat Dat

Meanwhile, the number of customers visiting the SJC Nguyen Thi Minh Khai store (District 1, Ho Chi Minh City) this morning was quite empty, with only about 20 people. The gold bar counter was still the most popular, most customers clearly determined the quantity they wanted to buy, so the shopping time was short and there was no crowded waiting.

This year SJC introduced a one-tael gold dragon statue and a collection of three one-chi dragon-shaped pieces. This morning, visitors were also very interested in these products.

In Hanoi , many people also went to buy gold early. In the early afternoon of February 18, gold shops on Tran Nhan Tong Street, Cau Giay were bustling with customers. At some stores, buyers had to fill out a form, get a number to wait their turn even though it was not yet God of Wealth Day.

Gold shop on Tran Nhan Tong street was packed with customers at noon on February 18 (9th day of Lunar calendar). Photo: Anh Tu

"Every year I buy a tael of gold for good luck, but this year it falls on Monday, the first day of the work week, so I bought it early to avoid the crowds and hours-long wait like every year," said Ms. Ngoc Mai, a gold buyer at a store in Cau Giay.

According to the manager of Bao Tin Minh Chau store on the "golden street" Tran Nhan Tong, customers start arriving from 10am and are most crowded at noon.

At some stores such as DOJI and PNJ, employees reported that plain round rings - an item that is often favored by buyers during the God of Wealth festival thanks to its easy liquidity - were sold out. A sales employee at DOJI Nguyen Thai Hoc said that gold rings would only be available at the end of the month.

PNJ store on Cau Giay street decorated and prepared activities to welcome customers to buy gold on God of Wealth day from the morning of February 18. Photo: Anh Tu

These brands all direct customers to buy crafted gold products such as the Year of the Dragon mascot, gold pots, gold bars printed with the words "Wealth" and "Prosperity" of 1, 2, 5 chi...

The price of gold before the God of Wealth Day this year is similar to previous years. After a sharp increase before Tet, the price of gold bars in the days near the God of Wealth reversed and decreased slightly.

Today, Saigon Jewelry Company (SJC) reduced the buying price by 300,000 VND to 75.8 million VND, and the selling price by 200,000 VND to 78.4 million VND per tael. At DOJI, gold bars and gold products pressed in blisters on God of Wealth Day also decreased in price by 250,000 - 350,000 VND compared to yesterday, trading around 75.75 - 78.35 million VND per tael.

Prices of plain round rings and gold jewelry also decreased slightly by 100,000-150,000 VND per tael after reaching a peak yesterday.

Quynh Trang - Anh Tu - Tat Dat

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