Despite heavy rain, Hanoi residents rushed to buy gold this morning (March 13) as prices continued to set new record highs. Fearing a sellout, long lines formed outside gold shops as buyers patiently waited for their turn.

At Tran Nhan Tong Street, a gold trading hub in Hanoi, the number of buyers surged dramatically compared to sellers. Many customers queued early in the morning, anticipating the shops’ opening.

A representative of Bao Tin Minh Chau said that due to overwhelming demand, customers at their stores were limited to purchasing a maximum of one tael of gold bars and two mace of gold rings. Meanwhile, SJC’s gold store at 18 Tran Nhan Tong announced that it had run out of stock and was only buying gold, not selling.

Despite the shortage, and with gold prices on an upward trend, many people still braved the rain to complete their transactions.

Gold fever grips Hanoi as prices soar

Luong, a resident of Dong Da District, arrived at Bao Tin Minh Chau early in the morning. Observing gold prices increasing daily, he decided to monitor the market and consider making a purchase.

“I arrived early, yet I was already the 20th person in line. I feel anxious because if I delay, prices may rise even further,” he said.

Hai, from Thanh Xuan District, also showed up early but still had to wait in line. Having missed out on a previous opportunity when a shop ran out of gold, she was determined not to be late this time.

Similarly, Hoa, from Ha Dong District, visited several SJC gold shops at Thai Thinh and Giang Van Minh but found them all out of stock. Left with no choice, she traveled to Bao Tin Minh Chau on Tran Nhan Tong Street to make her purchase.

At 9:45 AM, Manh from Thanh Xuan District arrived at Bao Tin Minh Chau after withdrawing his savings from the bank.

“I withdrew 300 million VND (approximately $12,000) to buy three taels of gold, but when I got here, I learned that each customer could only buy one tael maximum,” he explained.

Manh regretted not buying earlier, as gold prices have been steadily rising for over a week. However, he remains optimistic, believing gold will soon reach 100 million VND ($4,000) per tael.

Gold prices continue upward trend

According to Manh, domestic gold prices are being influenced by global market trends, which are still on an upward trajectory. He believes local prices will continue to climb.

By noon, SJC 9999 gold was listed at 92.9-94.4 million VND ($3,770-$3,840) per tael, marking an increase of 1.1 million VND ($45) for buying and 900,000 VND ($36) for selling compared to earlier in the day.

Gold rings also saw a significant rise, reaching 92.8-94.3 million VND ($3,760-$3,830) per tael for SJC rings, and 93.4-94.9 million VND ($3,780-$3,840) per tael for Doji rings.

Additionally, Rong Thang Long gold bars and Bao Tin Minh Chau gold rings were listed at 93.4-95 million VND ($3,780-$3,850) per tael.

Ngoc Cuong