In Hanoi, gold stores were flooded with customers before dawn, with some willing to endure hours in the rain and cold to uphold this tradition.

Although gold shops in Hanoi do not open until 6:30 a.m., many people braved the rain and freezing temperatures as early as 3 a.m. to line up and purchase gold for luck on the God of Wealth Day.

For more than a decade, on the 10th day of the Lunar New Year, thousands of people have flocked to jewelry stores to buy gold, believing it will bring prosperity and financial success for the year ahead.

On Tran Nhan Tong Street in Hanoi’s Hai Ba Trung District, one of the busiest gold trading hubs in the capital, stores were packed with customers from early morning until late at night.

This morning, February 7, despite the wet and frigid weather, dozens of people gathered outside gold shops before dawn, huddled under umbrellas and wrapped in thick coats, waiting for the doors to open.

Braving the cold for a golden tradition

“I’ve been buying gold on the God of Wealth Day for years now. I don’t buy much, just two to three chi (1 chi = 3.75 grams) each year,” said Pham Huy Quyet, a resident of Hoang Mai District, Hanoi.

Regardless of the rain and cold, he woke up at 3 a.m., rode his motorbike to the gold shop, and waited for it to open.

Similarly, To Hoa Binh, a retired official from Hai Ba Trung District, has maintained the habit of purchasing gold on this auspicious day for over a decade. “I don’t do business, but buying gold on this day has become a tradition for me,” he said.

Last year, Binh bought two chi of gold. This year, he brought 34 million VND (approximately 1,350 USD) with the intention of buying three chi of gold rings. “This is my savings from my pension. I see it as a way to store value,” he shared.

Despite the rising price of gold, he came prepared. “Gold costs around 9 million VND (355 USD) per chi, but I brought a few million extra in case the price rises,” he said. Binh rarely sells the gold he buys on the God of Wealth Day, treating it as an investment.

“I still have chi of gold I bought when prices were just 2.23 million VND (88 USD) per chi, and they have quadrupled in value. Even the two chi I bought last year at nearly 6.8 million VND (268 USD) per chi have already appreciated,” he added.

Gold rush despite limited supply

At Bao Tin Minh Chau, a well-known gold retailer, staff distributed purchase tickets while reminding customers to have their ID cards or VNeID app ready for smooth transactions.

Announcements were broadcast repeatedly: “Today’s gold ring price is 86.4-89.55 million VND (3,400-3,530 USD) per tael (37.5 grams).”

Several gold brands reported a reduced supply of gold rings and bullion compared to last year, though there would be no restriction on the number of gold pieces sold. However, many retailers anticipated that some products might sell out quickly due to high demand and limited stock.