Gold price update at the closing session 13. 3: Towards the second consecutive week of decline

SJC gold bar price

As of 6:45 PM, SJC gold bar prices were listed by DOJI Group at the threshold of 181.8-184.8 million VND/tael (buying - selling), down 1.5 million 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 181.8-184.8 million VND/tael (buying - selling), down 1.7 million VND/tael on the buying side and down 1.5 million VND/tael on the selling side. The difference between buying and selling prices is at the threshold of 3 million VND/tael.

Phu Quy Jewelry Group listed SJC gold bar prices at 181.8-184.8 million VND/tael (buying - selling), down 1.7 million VND/tael on the buying side and down 1.5 million VND/tael on the selling side. The difference between buying and selling prices is at the threshold of 3 million VND/tael.

9999 gold ring price

As of 6:45 PM, DOJI Group listed the price of gold rings at 181.8-184.8 million VND/tael (buying - selling), down 1.5 million VND/tael in both buying and selling directions. The difference between buying and selling prices is at 3 million VND/tael.

Bao Tin Minh Chau listed the price of gold rings at 181.8-184.8 million VND/tael (buying - selling), down 1.5 million VND/tael in both buying and selling directions. The difference between buying and selling prices is at 3 million VND/tael.

Phu Quy Gold and Gems Group listed the price of gold rings at 181.5-184.5 million VND/tael (buying - selling), down 1.6 million VND/tael in both buying and selling directions. The difference between buying and selling prices is at 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 5,093.7 USD/ounce, down 85.7 USD.

Gold price forecast

Gold prices are heading for their second consecutive week of decline despite a slight recovery in the last session of the week. Pressure on the precious metal mainly comes from the strengthening of the USD, rising US bond yields and rising oil prices, causing expectations that the US Federal Reserve (Fed) will soon cut interest rates to shrink.

According to analysts, when the financial market fluctuates strongly, a part of investors have sold gold to compensate for losses in other assets.

Mr. Ross Norman - an independent analyst believes that gold is being used as a fast cash source as the stock market weakens. In addition, the fact that oil prices exceeded the 100 USD/barrel mark also increased concerns about inflationary pressure, thereby making the prospect of monetary policy easing less certain.

Geopolitical tensions in the Middle East continue to be a noteworthy factor. Conflicts related to Iran and the risk of disruption of oil transportation through the Strait of Hormuz - a route that transports about 1/5 of global oil supplies - have caused the energy market to fluctuate sharply.

The International Energy Agency (IEA) even decided to release about 400 million barrels of oil from strategic reserves of more than 30 countries to stabilize supply. However, oil prices still maintain an upward trend, showing that the market is still concerned about energy disruption risks.

In that context, gold - which is often considered a safe haven asset - did not increase as strongly as expected. Some experts believe that the previous upward momentum of the precious metal may have stalled after a long period of upward trend. When major supporting news such as geopolitical conflicts are no longer strong enough to push prices up, the market may be entering a short-term correction phase.

In addition, the USD is rising to its highest level in about three months, while the yield of 10-year US Treasury bonds is also maintained around the high of many weeks. These factors often put pressure on gold because they reduce the attractiveness of non-performing assets.

However, many analysts believe that the long-term outlook for gold is still supported. Mr. Ross Norman said that the precious metal may still remain above the high price range if geopolitical instability and inflation risk continue to persist. In the short term, gold price movements are forecast to depend heavily on the Fed's monetary policy, US inflation data and the tense situation in the Middle East.