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Gold price changes 5 times within an hour
The gold price went up and down all morning. It changed five times during one hour with the increase of VND50-120,000/tael each time. In HCM City, people are rushing to buy gold.
Gold shops in HCM City opened with the price of VND18.73mil/tael. One hour later, the price rose to VND18.98mil/tael, and at 11 am, SJC gold price was quoted hitting the VND19mil/tael threshold.
The shops on Phan Dinh Phung streets in Phu Nhuan district were full of people this morning coming to buy gold. At 9 am, the shops quoted the price of VND18.85-18.7mil/tael (purchasing and selling) for SJC gold.
However, actual sale prices were only set at the moments transactions were conducted, and in many cases, the actual transaction prices were higher than the quoted prices. Computers at the gold shops showed the website of SJC gold company, which allowed them to update SJC prices every minute.
At Kim Xuan gold shop on Phan Dinh Phung street in Phu Nhuan district, people were seen waiting for their turn to buy gold. Xuan, the owner of the shop, had to answer the questions of gold buyers and receive clients who came to sell dollars at the same time.
A client named Thanh asked to buy five taels of SJC gold at VND18.95mil/tael and gave money to the owner, and then waited for the gold. However, while waiting for the owner to finish the transaction with the dollar seller, the gold price unexpectedly soared to VND18.98mil/tael. As a result, Thanh had to pay VND150,000 more to the owner for the deal.
The gold price has soared to VND19mil/tael, and those who buy less than 1 tael will have to pay VND1,935,000 per 0.1 tael.
In Tan Dinh market area, SJC gold price posted by gold shops were the same. At 8.45 am, the shops’ purchasing and selling prices were VND18.87-18.77mil/tael. Ngoc, the owner of one of the shops, said that previously, small shops’ prices were always VND30-50,000/tael lower than those posted by bigger companies. However, as the gold price keeps skyrocketing, small shops also quote prices as high as the bigger companies’ levels.
Yesterday afternoon, an unsuccessful gold robbery took place near the Ben Thanh market, which has made shop owners become more vigilant. Ngoc Huong, the owner of a gold shop, said that she has decided to close shop at 9 pm instead of 10 pm in order to avoid troubles.
Dollar prices also saw sharp increases today with the black market price soaring to VND18,900-19,000/US$1.
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