Jeweler Bao Tin Minh Chau’s store in Hanoi’s Cau Giay Ward allowed each customer to purchase a maximum of five taels early on Sunday before lowering the limit to one tael by noon and stopping sales altogether in the afternoon after running out of stock. A tael equals 37.5 grams or 1.2 ounces.
Staff at another outlet of the brand on Tran Nhan Tong Street said it would resume selling gold rings the next morning, but it was not clear whether there would be trading limits.
Trung Hieu, 38, left empty-handed and disappointed after visiting multiple stores on the same street. He had called several well-known private gold shops in the city but they had all sold out.
Gold seller Bao Tin Minh Chau’s out-of-stock announcement on the afternoon of March 1, 2026. Photo by Read/Anh Tu |
The Phu Quy store in Ha Dong Ward, meanwhile, did not limit sales quantities. The queue at the store grew throughout the day, spilling onto the sidewalk and packing the space inside.
By 4 p.m. the shop had to stop accepting more customers due to overcrowding and served only those already in line.
A nearby store, Bao Tin Manh Hai, initially asked customers to place orders online for next-week delivery but stopped accepting orders in the afternoon.
Many private gold shops on Ha Trung Street were also sold out while some on Cau Giay Street did not impose any quantity limit.
In HCMC, staff at a Mi Hong store on Bui Huu Nghia Street said that due to limited supply, it has been selling only one-tenth of a tael at most per customer since the God of Wealth Day on Thursday, when people typically buy gold for good fortune.
By 7 p.m. on Sunday, more than 50 customers were still waiting at the store’s jewelry counter.
Bay, a resident of Ward 2, said she occasionally stops by to buy small amounts for savings.
“It has been difficult to buy plain (24K) gold rings recently, so I have switched to buying 18K ones, which I can also wear as jewelry,” she said.
Smaller shops in the city had ample supplies of gold rings, so transactions were carried out as usual.
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Customers buying gold jewelry at a store on Bui Huu Nghia Street, HCMC, on the evening of March 1, 2026. Photo by Read/Quynh Trang |
The weekend gold rush followed news of the U.S.-Israel attack on Iran on Saturday, which was expected to drive up gold prices.
After queuing for more than an hour at the Phu Quy store in Ha Dong, Quang was among the last customers to buy gold that afternoon.
He said he decided to wait because he was worried about missing out on potential price hikes.
“Three other stores along the street I visited had all announced they were out of stock, and I was only able to buy a small amount at the fourth,” he said.
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People queuing to buy gold at a store in Hanoi’s Ha Dong Ward on the afternoon of March 1, 2026. Photo by Read/Anh Minh |
Other well-known jewelers like PNJ and Doji said they had run out of 24K rings after the God of Wealth Day and had yet to restock.
The rings were priced at VND184–187 million per tael on Sunday. Smaller shops in Hanoi quoted VND183 million (US$7,004) per tael while those in HCMC sold them at VND178 –180 million.
Gold trading groups on social media also saw numerous listings for gold rings, with selling prices of VND185 –189 million per tael.
Globally, gold rose about 2% last week. The metal was forecast to rise above US$5,500 per ounce following the strike. It earlier hit an all-time high of $5,595 in January.
James Stanley, senior market strategist at Forex, expects the metal to gain this week.
“Sticking with the bullish bias, no reason to question it now, although the price level is somewhat of a challenge,” he says.
However, Alex Kuptsikevich, senior analyst at FxPro, expects prices to decline following three consecutive weekly gains.
“Nevertheless, in the longer term, it is worth being prepared for lower prices and increased selling pressure.”
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