God of Wealth Day fuels gold rush in Hanoi, Saigon

By Ngoc Thanh, Tung Dinh, Dinh Van February 9, 2022 | 11:40 pm PT

Gold shops in Hanoi and Ho Chi Minh City opened earlier than normal Thursday to serve customers seeking new year fortune.

Hanoi’s Tran Nhan Tong Street in Hai Ba Trung District, famed for its gold and jewelry shops, has seen sellers open their doors at 6:30 a.m. However, due to the ongoing Covid-19 outbreak plus the cold weather of 10-11 degrees Celsius on Thursday morning, gold shops here have not been as busy as in previous years.
For many, buying a piece of gold on the God of Wealth Day, the tenth day of the lunar year, is believed to bring good fortune to their business and family through the year.

People wait outside a shop on Tran Nhan Tong Street.

Customers queue to buy gold at a shop in Hanoi’s Cau Giay District.

Buyers gather at the checkout counter of a shop in Hanoi at 7 a.m. Thursday. Saigon Jewelry Company (SJC) sells its gold at VND62.7 million ($2,766) per tael, up VND200,000 against Wednesday and VND660,000 against Tuesday.

"I know it costs more to buy gold these days but I accept the price since it would secure good fortune for my family," said To Hoa Binh who lives in Hanoi’s Dong Da District.

A staff member displays two pieces of gold, with one decorated with the God of Wealth and the other a tiger, the zodiac animal of the 2022 lunar year.

A golden statue of the tiger. Depending on its size, the statue is sold at VND1.3 million (around $60) and VND2.7 million.

A golden statue of the tiger. Depending on its size, the statue is sold at between VND1.3 million (around $60) and VND2.7 million.

Customers rushed to Mi Hong gold shop in Binh Thanh District of HCMC since 6 a.m. on Thursday.

By 7:30 a.m., Mi Hong announced it had run out of gold bars of one-five maces.

Putting a ring of two maces on her finger, Lan, 58, said she buys gold on the God of Wealth Day every year for luck and prosperity.
"Last year was difficult due to Covid-19 so I wanted to get some luck for this year," she said.

A scene at the SJC store on Nguyen Thi Minh Khai Street, District 3.

Buying four gold pieces at more than VND20 million, Nguyen Kim Long said he will give three of them to his mother, his wife and her mother for luck. "The gold price this year is not as high as last year so I feel quite comfortable spending my money."