Updated gold price at the end of session 15.4: The increase has not stopped

Updated SJC gold price

As of 6:30 p.m., the price of SJC gold bars was listed by Saigon Jewelry Company at VND105.5-107.8 million/tael (buy in - sell out); increased by VND500,000/tael for both buying and selling. The difference between buying and selling prices is at 2.5 million VND/tael.

At the same time, the price of SJC gold bars was listed by DOJI Group at 105.5-107.8 million VND/tael (buy - sell); increased by 500,000 VND/tael for both buying and selling. The difference between buying and selling prices is at 2.5 million VND/tael.

Meanwhile, Bao Tin Minh Chau listed the price of SJC gold bars at 105.5-107.8 million VND/tael (buy - sell); increased by 500,000 VND/tael for both buying and selling. The difference between buying and selling prices is at 2.5 million VND/tael.

9999 round gold ring price

As of 5:50 p.m. today, the price of Hung Thinh Vuong 9999 round gold rings at DOJI was listed at 103.2-106.5 million VND/tael (buy - sell); an increase of 1.2 million VND/tael for buying and an increase of 1.5 million VND/tael for selling compared to early in the morning. The difference between buying and selling prices is at 3.3 million VND/tael.

Bao Tin Minh Chau listed the price of gold rings at 104.1-107 million VND/tael (buy - sell); an increase of 1.5 million VND/tael for buying and an increase of 800,000 VND/tael for selling compared to early in the morning. The difference between buying and selling prices is at 2.9 million VND/tael.

World gold price

As of 6:00 p.m., the world gold price was listed at 3,217.3 USD/ounce, up 3 USD.

Gold price forecast

Mike McGlone - senior commodity strategist at Bloomberg Intelligence commented that gold prices surpassing the 3,200 USD/ounce mark could be just the beginning of another stronger increase, even towards 4,000 USD/ounce. Mike McGlone said that we are witnessing "the beginning of the downward market in the US" and a comprehensive change in the way cash flow operates.

We are building a fairly solid foundation around $3,000. Gold prices will move up to $4,000, it is just a matter of time. What happened in the middle was for speculators, of which I was a part, McGlone said.

Since the beginning of the year, gold has increased by nearly 25%, supported by central bank demand, cash flow into gold ETFs and macroeconomic uncertainties. Goldman Sachs has also raised its year-end gold price forecast to $3,700 and said it could reach $3,900 if the economy recessions.

According to McGlone, gold's rally reflects a shift in capital flows from speculative assets. Gold is currently at an historically high price compared to the US long-term bond market. That is the consequences of excessive public debt and the trend of taxation causing inflation to increase" - he said.

Adrian Day, chairman of Adrian Day Asset Management, assessed the latest adjustment as being similar to the recent adjustments as "very short and shallow". He said that gold is motivated and there are still many people who want to join the market.

According to market strategist Colin Cieszynski of SIA Wealth Management, the USD is on a downward trend and the uncertainties supporting gold are likely to last for a while longer. This has prevented him from changing his optimistic view on gold.

Goldman Sachs remains optimistic about gold as it raises its year-end gold price forecast to $3,700/ounce, citing stronger-than-expected central bank demand and increased risk of recession affecting capital flows into gold-backed exchange-traded funds.

Recent data from the World Gold Council shows that investment capital flows into exchange-traded funds increased sharply in March in many regions of the world.