Over 630 queue tokens were distributed at a Bao Tin Minh Chau jewelry store in Hanoi’s Cau Giay District by 11 a.m., and a long line of customers stoon on the street outside as the shop ran out of space.
But only 170 had been served by lunchbreak, prompting many customers with high token numbers to leave with plans to return in the afternoon.
Nguyen Tuan Anh had arrived at 8 a.m. but, after waiting for three hours, could only buy three maces of gold.
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Customers wait to buy gold at a store in Cau Giay District, Hanoi on April 17, 2025. Photo by VnExpress/Anh Tu |
The jump in demand for the safe-haven metal came as bullion price hit VND118 million (US$4,559.51) for a tael of 37.5 grams amid the lingering global trade uncertainties.
Gold has proved to be the most profitable asset in Vietnam so far this year with a 40% gain as of Thursday.
But the price rise caused more people to buy than sell. The Bao Tin Minh Chau store in Cau Giay had few sellers and had to limit each buyer to five maces of gold at most.
Anyone buying more has to wait at least a few days for delivery, with employees unable to promise when fresh stocks will arrive.
Both Bao Tin Minh Chau stores on the street stopped issuing queue tokens by 11.30 a.m. as hundreds were already waiting.
Another gold store nearby, Phu Quy, put up an “out of stock” sign by lunchtime, with employees unable to say when more stocks will arrive.
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A customer leaves a jewelry store, where an “out of stock” sign has been put up, in Hanoi’s Cau Giay Distrct, on April 17, 2025. |
In HCMC, state-owned gold distributor Saigon Jewelry Company’s headquarter was packed since early morning.
It too had to limit purchases by customers.
Mi Hong gold stores in the city also saw hundreds of people queue up as of 11 a.m.
They could only buy rings as bullion was not in stock.
Nguyen Hung, who wanted to buy six maces, had to queue three times as each buyer was limited to two.
Ninh Vy, a customer, sold her gold at VND85 million per tael a few months ago but has been buying back since prices reached VND100 million.
“Everything is unstable under U.S. President Donald Trump,” she said, adding that she has been moving her money from stock to gold to hedge risks.
