Gold price decreases on God of Wealth Day
Domestic gold price decreased by VND150,000 (US$6.1) per tael (37.5 grams) at the beginning of trading on February 19 - God of Wealth Day (the tenth day of the first lunar month) compared to the price at the end of February 18, with many fluctuations expected on the market during the day.
At 8.50 am, Phu Quy Jewelry Group listed its buying price of SJC gold at VND75.4 million per tael and the selling price at VND78.2 million per tael, down VND350,000 per tael and VND150,000 per tael, respectively, compared to the end of February 18.
The Saigon Jewelry Company (SJC) bought SJC gold at VND75.4 million per tael, down VND400,000 per tael, and sold at VND78.42 million per tael, unchanged from the end of the previous day.
Vietnamese prefer buying gold to mark God of Wealth Day – the tenth day of the Lunar New Year, as legend has it that the God of Wealth returns to heaven on the tenth day of the first lunar month each year. Vietnamese people consider this God of Wealth Day, so they have a tradition of buying some gold for good luck and prosperity throughout the year.
