Editor’s Note
**Editor’s Note:** The sudden closure of Hong Phuc Jewelry has triggered a rush to sell gold in My Tho, overwhelming local stores. This report examines the immediate impact on the market and the community’s response.
Following the announcement of the temporary closure of Hong Phuc Jewelry, many people flocked to other jewelry stores in My Tho to sell their gold, causing most of them to be overwhelmed.
Báo Tuổi Trẻ
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16/07/2026
On the afternoon of July 16, many jewelry stores in the My Tho area were overwhelmed, as most people came to sell gold after Hong Phuc Jewelry closed its doors. – Photo: MAU TRUONG
By the end of July 16, jewelry stores such as KY, NH, KNH… were crowded with customers. Due to the large influx of people, some had to stop serving customers, while others closed or left their doors slightly ajar to conduct transactions in groups.
Around 7 PM that same day, KY Jewelry on Le Van Duyet Street (My Tho Ward, Dong Thap Province) also closed its doors after a brief announcement by the security guard: “To serve all customers currently inside, we temporarily suspend admission of new customers.”
Outside, many customers were worried because they could not sell the gold they had previously purchased at that store.
Ms. NTY (49 years old, resident of Dao Thanh Ward) said she went to work today but felt uneasy due to the news that Hong Phuc Jewelry announced it would temporarily cease operations.
In addition to customers who intended to resell jewelry purchased at these stores, some, due to lack of information, also brought jewelry bought at Hong Phuc Jewelry to sell. However, after a long wait, the store rejected these requests. Most jewelry stores in My Tho only prioritize buying back the same products they had previously sold.
Around 7:30 PM that same day, the influx of customers at jewelry stores remained very high; most were people waiting to sell their gold.
That same morning, Hong Phuc Jewelry, a well-known store in My Tho, posted a notice announcing its temporary closure. In response, numerous people went to the establishment. Local police and traffic police had to deploy in the area to ensure security, order, and traffic flow.
Regarding the reason for the temporary suspension of operations, Hong Phuc Jewelry stated: “…market fluctuations have exceeded expectations. Hong Phuc will temporarily suspend operations for a period of time to restructure and improve service quality…”
Customers selling gold at a jewelry store in My Tho – Photo: MAU TRUONG
A jewelry store in My Tho has its door slightly ajar, with buying and selling transactions still taking place inside. Photo: MAU TRUONG
