In the midst of controversies surrounding SJC and PNJ regarding diamond smuggling, Mi Hong Gold Shop, a prominent name in Ho Chi Minh City, has experienced a significant influx of customers looking to buy gold. On July 25, the shop located near Ba Chieu Market was bustling with activity as many people lined up to purchase gold.

Unlike the trend of customers flocking to SJC and PNJ to sell their gold, Mi Hong has attracted buyers eager to make purchases. As of noon on July 25, while SJC halted transactions for the weekend, Mi Hong remained crowded with customers looking to buy gold rings. The price of SJC gold bars was listed at 140 million VND per tael for selling and 137.5 million VND for buying, reflecting an increase of 2 million VND compared to the previous day. Similarly, Mi Hong's gold rings were priced at 140 million VND for selling and 137.5 million VND for buying, matching the price of gold bars.

The rising gold prices have prompted many to seize the opportunity to buy. Staff at Mi Hong indicated that each customer was limited to purchasing a maximum of 5 taels of gold rings, a change from previous days when there were no restrictions. This limitation was introduced due to the high demand from customers.

One customer, Thuy from Gia Dinh, shared her experience of purchasing 5 taels of gold rings, noting that she had attempted to buy earlier but was deterred by the long lines. She remarked that while it was easier to buy on this day, she still had to pay a few million VND more for her purchase. Another customer, Huy from Binh Thanh, decided to buy 1 tael of gold rings with cash, motivated by the current low prices and the potential for profit when prices rise again.

In addition to gold rings, there was also a strong demand for gold jewelry at Mi Hong. Staff reported that transactions had significantly increased over the past three days, peaking on July 23. Even as gold prices rose again, customers continued to visit the shop, although the lengthy waits of two hours or more were no longer the norm.

On the same day, SJC reported its gold bars at 141.5 million VND for selling and 137.5 million VND for buying, while SJC gold rings were priced at 141 million VND for selling and 137 million VND for buying. This indicated a loss of 2 million VND per tael if customers sold their gold bars and rings compared to the previous day.

The recent wave of customers selling gold at SJC and PNJ has been linked to the ongoing investigations into diamond smuggling involving these companies. In contrast, Mi Hong has maintained a steady demand for gold purchases, showcasing its resilience amidst the market's challenges.