Hanoi gold shops run out of stock due to sharp increase in gold ring prices

(NLDO) - Many gold shops in Hanoi are out of stock despite limiting sales.

At the opening time of 9:00 a.m. on September 3, the listed price of gold rings was 125.1 million VND/tael for buying and 127.6 million VND/tael for selling, an increase of 2.6 million VND/tael compared to yesterday.

Many customers went to buy gold on the day the price increased sharply.

At Bao Tin Minh Chau store on Tran Nhan Tong street, Hanoi , an employee said the store opened at 9:00 AM and sold out of gold rings this morning. The store is still not sure if it will open for sale this afternoon.

"Each customer who lines up early can only buy a maximum of 1 tael" - Bao Tin Minh Chau staff said.

Meanwhile, other large gold shops such as Phu Quy, DOJI ... also have a shortage of supply. The number of gold rings sold depends on the time. Customers who want to buy often have to deposit money in advance and deliver the gold later.

The demand for gold is still very large.

Recently, the Government issued Decree No. 232/2025 dated August 26, 2025 amending and supplementing a number of articles of Decree No. 24/2022 of the Government on the management of gold trading activities. This Decree takes effect from October 10, 2025.

One of the notable points of the Decree is the elimination of the State's monopoly on gold bar production.

Accordingly, many people expect that removing the gold bar monopoly will help diversify supply sources and create a competitive market, thereby gradually narrowing the gap between domestic gold prices and the world.

However, in reality, reducing domestic gold prices still faces many difficulties, even when the gold bar monopoly is about to be eliminated.

According to the Chairman of the Vietnam Gold Business Association, Mr. Dinh Nho Bang, whether or not the gold price can be adjusted down depends on the supply and demand relationship of gold bars, jewelry gold, as well as how to open the import of raw gold?

"For Vietnam to become a center for producing high-quality gold jewelry, it must allow imports," Mr. Bang analyzed.

According to the Chairman of the Vietnam Gold Association, if demand is high but supply is low, prices will not fall. Only if demand meets supply can gold prices fall.

Source: https://nld.com.vn/xoa-doc-quyen-vang-mieng-khi-nao-gia-vang-moi-giam-196250903134342033.htm