Hanoi’s popular jewelry street, Tran Nhat Tong St., was deserted at 6.30 a.m. when the first store opened for business. Most stores waited until 7 a.m. to open after new prices are announced.
Only 20 people came to Tran Nhat Tong St. to buy gold at the time, while before Covid-19, the street was already packed by this early hour.
Buying gold on God of Wealth Day (the 10th day of the lunar year, or January 31 this year) is believed to bring good fortune to business and families throughout the year.
Around 20 people queued to buy at the first store that opened at 6.30 a.m. The buyers wrote their purchase details on a piece of paper so the staff could easily manage the purchases.
“I was here at 3.05 a.m., the first to show up,” said To Hoa Binh from Dong Da District. “This is the 16th year I have queued early. I buy two maces of gold every year for luck and savings.”
One mace of gold equals around 3.75 grams, or 0.13 ounces.
A representative of jewelry retailer Doji said that it has prepared 4,500 items to sell on the God of Wealth Day this year, up 18% year-on-year.
Customers are expected to show up later in the day as this is a working day, the representative added.
In HCMC, jewelry shops received large crowds. Hundreds of buyers showed up at 8.30 a.m. at the Mi Hong Jewelry Shop in Binh Thanh District.
“I bought this bracelet for VND8 million ($341.19) in hope of gaining good luck,” said Ngoc Bich, an office worker.
Gold prices are seen on a screen at a shop. The SJC gold price rose 0.59% to VND67.8 million ($2,891.26) per tael Tuesday morning. A tael equals 37.5 grams or 1.2 ounces.
