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Early Birds Rush to Buy Gold on God of Wealth’s Day

Diep Nguyen
BizLIVE -

The recent gold price has not witnessed much fluctuations because the demand is not as high as many previous years, according to the analysis of many experts.

Early Birds Rush to Buy Gold on God of Wealth’s Day
Eary gold buyers today. Photo: Diep Nguyen
Today is God of Wealth’s Day in Vietnam. With the common sense that buying gold on this day will help the buyers to have good luck, many people wait outside from early morning then just when the gold shops open, they come in and buy. This is partly because they want to avoid mixing with too many people. 
The recent gold price has not witnessed much fluctuations because the demand is not as high as many previous years, according to the analysis of many experts.
In recent days, gold shops in Hanoi have been offering gold items in the shape of a buffalo, the lucky cat, the zodiac sign for 2021, in anticipation of the God of Wealth Day.
Customers could buy these products at stores of Phu Nhuan Jewelry Company (PNJ) or Saigon Jewellery Company (SJC), the country’s largest gold and gold jewelry making and distribution companies, for prices from VND5.5-56 million (US$240.2-2,400).
 5am today at one gold store in Hanoi. Photo: Ngoc Thanh VnExpress
Some other gold companies are putting on sale gold jewelry that are made of 18k and 24k gold and inscribed with lucky charm or zodiac animals to meet diversified demands from customers.
Amid the recent Covid-19 outbreaks, many gold companies in Vietnam are promoting e-Gold products to push sales. Some big gold companies have run huge marketing campaigns on many media channels like TVs or newspapers to market about their new sales channels. 
Customers can use mobile apps to book for gold online, pay money then get the codes and receive the gold later on. They don’t have to spend time queueing to avoid too much interaction with others.
The God of Wealth’s Day this year (February 21st) is much different from previous years’ occassions. Starting from the 7th day of the first lunar month of the Year of Ox, many people buy gold to keep at home. Their conception of luck has changed. Many early bird gold buyers think that the action of buying gold on this occasion will bring in luck, thus it is not necessary to buy gold on the exact day. 
Some gold representatives shared that despite Covid-19 pandemic is raging on, they strongly believe that customers will keep buying gold, thoughe the amount may be lower than last year.
Gold shop owners this year have installed protective glasses to divide people in lines to reduce customer’s close interaction. 

DIEP NGUYEN