Gold shops prepare for surge on God of Wealth Day

The Bao Tin Minh Chau gold shop in Ha Noi is always crowded on the God of Wealth Day. - VNS Photo Doan Tung

Legend has it that the God of Wealth returns to heaven on the 10th day, and so Vietnamese have a tradition of buying some gold for good luck and prosperity throughout the year.

In addition to traditional products such as figurines representing the God of Wealth and those with Phuc (Happiness), Loc (Prosperity) Tai (Wealth) and Tho (Longevity) written on them, gold companies have also launched a variety of other items featuring the dog since it is now the Year of the Dog.

As usual, Phu Nhuan Jewelry Joint Stock Company (PNJ) has launched figurines of the animal representing the year, golden dogs, made of 24k gold and weighing two taels (a teal equals 37.5g) each, which are expected to be a best seller.

It has also launched Phuc-Loc Tho figurine sets and gold pieces with Phuc-Loc Tho written on one side and a dog figure on the other in various weights as well as jewellery sets for young customers.

Other major players like DOJI, Sacombank Jewelry Company (Sacombank -SBJ) and Sai Gon Jewelry Company Limited (SJC) have also launched new products on the occasion.

Sacombank -SBJ offers 24k products in blister packing, including pieces inscribed with an image of the God of Wealth; gold coins inscribed with the images of the 12 zodiac animals, Maitreya, and Phuc, Loc, Tho letters; and gold-plated God of Wealth figurines.

SJC has also launched a lucky gold series this year, including pieces inscribed with images of the God of Wealth, Maitreya, and Phuc, Loc, Tho letters, and “lucky” coins.

Tran Thi Thu Ha, PNJ’s retail director, said everyone wants to buy gold on the God of Wealth Day and not just business people, and the company is fully prepared to meet the demand.

To avoid shortages, PNJ began to make plans since mid-2017, she said.

Many gold companies said their outlets would add staff and open earlier and close later than usual on February 25.