Gold price update closing session 12. 3: Decline compared to the previous day

SJC gold bar price

As of 6:45 PM, SJC gold bar prices were listed by DOJI Group at 183.3-186.3 million VND/tael (buying - selling), down 900,000 VND/tael in both buying and selling directions. The difference between buying and selling prices is at the threshold of 3 million VND/tael.

SJC gold bar price was listed by Bao Tin Minh Chau at the threshold of 183.5-186.3 million VND/tael (buying - selling), down 900,000 VND/tael in both buying and selling directions. The difference between buying and selling prices is at the threshold of 2.8 million VND/tael.

Phu Quy Jewelry Group listed SJC gold bar prices at the threshold of 183.5-186.3 million VND/tael (buying - selling), down 900,000 VND/tael in both buying and selling directions. The difference between buying and selling prices is at the threshold of 2.8 million VND/tael.

9999 gold ring price

As of 6:45 PM, DOJI Group listed the price of gold rings at 183.3-186.3 million VND/tael (buying - selling), down 900,000 VND/tael in both buying and selling directions. The difference between buying and selling prices is at the threshold of 3 million VND/tael.

Bao Tin Minh Chau listed the price of gold rings at 183.3-186.3 million VND/tael (buying - selling), down 200,000 VND/tael in both buying and selling directions. The difference between buying and selling prices is at 3 million VND/tael.

Phu Quy Jewelry Group listed the price of gold rings at the threshold of 183.1-186.1 million VND/tael (buying - selling), down 900,000 VND/tael in both buying and selling directions. The difference between buying and selling prices is at the threshold of 3 million VND/tael.

Currently, the buying - selling price difference of gold is at a very high level, around 3 million VND/tael, posing a risk of losses for investors.

World gold price

At 6:45 PM, world gold prices were listed around the threshold of 5,179.4 USD/ounce, down 6.2 USD.

Gold price forecast

World gold prices are under pressure as expectations that the US Federal Reserve (Fed) will soon ease monetary policy show signs of weakening.

The rising USD along with rising US bond yields made the precious metal less attractive to investors holding other currencies.

Mr. Nicholas Frappell - Head of Global Organization Markets at ABC Refinery said that the strength of the USD and interest rate movements are creating a drag on gold prices.

However, this expert believes that geopolitical factors can still play a supporting role for precious metals if global tensions continue to escalate.

Another factor affecting the market is US inflation data. The latest report shows that the consumer price index (CPI) increased by 0.3% in February, bringing the annual inflation rate to 2.4%.

This figure is consistent with analysts' forecasts but still higher than the Fed's target of 2%, making the possibility of short-term interest rate cuts less certain.

Mr. Chris Zaccarelli - Investment Director of Northlight Asset Management - said that inflation data did not exceed expectations, but this is still a "retrospective" figure, recorded before geopolitical tensions in the Middle East escalated.

According to him, the market currently believes that the Fed may have to maintain a more cautious monetary policy for longer to monitor inflation developments in the coming time.

Besides monetary factors, gold prices are also affected by global energy fluctuations. Crude oil prices rose sharply amid tensions in the Middle East, raising concerns about the risk of inflation returning. In case inflationary pressure increases, demand for safe-haven assets like gold may be strengthened.

In the long term, many experts still maintain a positive view of precious metals, especially when economic and geopolitical instability is still present. However, in the short term, the gold market may continue to fluctuate as investors wait for clearer signals from the Fed's monetary policy and important US economic data.