At Tran Nhan Tong Street, Hanoi’s "gold street," crowds packed the sidewalks, waiting to buy gold despite the store announcing that it would not be selling gold today.

According to a VietNamNet reporter, from 8 a.m., many people had gathered, waiting for Bao Tin Minh Chau jewelry store on Tran Nhan Tong Street (Hai Ba Trung District, Hanoi) to open, even though the staff repeatedly stated, “The store is not selling gold today; gold rings have been out of stock since yesterday.”

The staff revealed that the store had sold to around 60 customers yesterday until 7 p.m., with many buying more than one tael.

A buyer waiting at the store shared, “We are all too familiar with this kind of announcement from the gold shop. One way or another, they will open today. The important thing is that no one knows when, so we are determined to wait until it happens.”

Mrs. Phuong, who had been waiting since 7:30 a.m., even left a “coffee tip” with the vendor near the gold shop so she could step away briefly. The vendor was to call her if there were any signs of the shop opening.

Mr. Quang, a resident of Hai Ba Trung District, Hanoi, said, “I have been waiting for several days, but it's hard to buy because the store sells in dribs and drabs. When I am here, they do not sell, but when I leave, they do. That’s why today I am determined to wait until noon, hoping the shop will take pity on us and sell so I can go home.”

First-time buyer Mrs. Lan Anh, from Thanh Tri District, Hanoi, said she was shocked by the long wait. “I can only wait for 30 minutes because I need to go back to Thanh Tri to run my shop. This whole gold-buying ordeal is costing me a day's earnings,” she said.

Some people joked, “The gold is trustworthy, but the store's announcements are not. You never know when they’ll open.”

According to observations, the sidewalks were filled with people, with queues spilling onto the street. Pedestrians felt frustrated as the walkways were blocked. Despite staff working at full capacity, the gold store was overwhelmed.

Nearby stores, such as Phu Quy Gold, also displayed “out of stock” signs. Inside, many customers were waiting, with motorbikes packed tightly along the sidewalks.

Meanwhile, online gold trading has surged, with numerous posts advertising the purchase and sale of gold without any quantity limits.

Some members advised buying from smaller gold shops for easier transactions, but warned that prices there might be 1-2 million VND per tael higher than listed prices.

Online, forums are abuzz with discussions about buying and selling SJC gold bars, gold rings, and more. A single click or post can attract numerous offers to trade at favorable prices.

In the role of a seller, the reporter contacted a bulk buyer. This individual stated that if someone wanted to sell gold, they would provide an address, and the seller would bring the gold there for the transaction. They were willing to buy gold at 90.3 million VND per tael, even though the official buy-in price was listed at 87 million VND this morning.

Conversely, when the reporter expressed interest in buying gold, many people immediately offered deals, promising “competitive” prices below market rates, assuring unlimited quantities, and even offering doorstep service. Some sellers claimed the gold would come with invoices, but they often avoided answering whether the gold was genuine.

However, many forum members raised concerns, warning that this kind of transaction poses high risks, including the possibility of buying counterfeit or uncertified gold. They emphasized that reputable stores manage gold with serial numbers and offer proper documentation, making future transactions and exchanges easier.

Experts advise that in the current heated gold market, buyers should exercise extreme caution when purchasing from unofficial sources. It is essential to ask sellers to prove the gold’s origin, provide accompanying documents, and thoroughly inspect the gold's quality before completing any transactions.

US$1 = VND25,000

Tien Anh