On November 2 morning, the gold shops in Cau Giay district in Hanoi all announced that they had run out of gold and would not receive more buyers.

According to an officer at Bao Tin Minh Chau Gold Shop in Cau Giay district, individuals could buy 0.1 tael of gold on that day, instead of 0.05 tael as on previous days.

“The gold shop opened at 9 am and it was full of clients just 30 minutes later. We have been informed that no more clients would be accepted." Many people who came to the shop had to leave after hearing the information.

Other gold shops in the same districts, such as PNJ and Doji, were deserted. Many shops said that they had run out of plain gold rings for the last month and were selling jewelry. 

On Tran Nhan Tong street in Hai Ba Trung, which is called gold street, long lines of customers were seen in front of the shops. Many clients came to the shops with family members so they could queue in front of many shops at the same time.

At Bao Tin Minh Chau Shop at No 15 Tran Nhan Tong, Lan, 57, told VietNamNet that she was the last person joining the long queue. However, after just three minutes, she was informed that the shop had run out of gold and was advised to go to another Bao Tin Minh Chau branch, at No 29 Tran Nhan Tong street.

“However, when I came to No 29 TranNhanTong, an officer there told me there was no more gold available. So, I had to leave with empty hands though I had to queue for a long time,” she complained.

Bang, 72, from Hai Ba Trung district, said most shops sell gold within 30 minutes after opening and it is estimated that only 20-30 people can buy 0.1 tael each.

“There were 30 people waiting to buy gold this morning, so the shop sold only 3 taels of gold today,” he said. 

“Yesterday I could buy 0.05 tael and I think I will have to come here every day to buy gold,” he said, adding that many people are hoarding gold as gold prices have been rising.

At Phu Quy Shop, people were seen queuing in four long lines. They were informed that each person could buy one tael instead of 0.3 taels as applied in previous days.

Tien Anh