Updated gold price at the end of session 20.3: Reversal to decrease

Updated SJC gold price

As of 6:30 p.m., the price of SJC gold bars was listed by Saigon Jewelry Company at VND97.8-99.8 million/tael (buy - sell), down VND200,000/tael for buying and up VND300,000/tael for selling. The difference between buying and selling prices is at 2 million VND/tael.

At the same time, the price of SJC gold bars was listed by DOJI Group at 97.8-99.8 million VND/tael (buy - sell), down 200,000 VND/tael for buying and up 300,000 VND/tael for selling. The difference between buying and selling prices is at 2 million VND/tael.

Meanwhile, Bao Tin Minh Chau listed the price of SJC gold bars at 98-99.8 million VND/tael (buy - sell), keeping the same for buying and increasing by 300,000 VND/tael for selling. The difference between buying and selling prices is at 1.8 million VND/tael.

9999 round gold ring price

As of 5:45 p.m. today, the price of Hung Thinh Vuong 9999 round gold rings at DOJI was listed at 98.5-100.2 million VND/tael (buy - sell); increased by 200,000 VND/tael for buying and increased by 300,000 VND/tael for selling. The difference between buying and selling is listed at 1.7 million VND/tael.

Bao Tin Minh Chau listed the price of gold rings at 98.55-100.3 million VND/tael (buy - sell); increased by 200,000 VND/tael for buying and increased by 300,000 VND/tael for selling. The difference between buying and selling is 1.75 million VND/tael.

World gold price

As of 6:30 p.m., the world gold price continued to break a new peak, up to 3,031.6 USD/ounce, down 2.3 USD/ounce compared to yesterday afternoon's session.

Gold price forecast

World gold prices fell amid an increase in the USD. Recorded at 6:30 p.m. on March 20, the US Dollar Index measuring the fluctuations of the greenback against 6 major currencies was at 103.550 points (up 0.44%).

Gold prices have no new momentum despite prices remaining near a record high of over $3,000/ounce. As expected, the US Federal Reserve (FED) kept interest rates unchanged in the range of 4.25% - 4.50% and did not provide many instructions on monetary policy.

According to the latest interest rate forecast, the FED expects interest rates to be at 3.9% by the end of the year, unchanged from the previous forecast. The interest rate is expected to fall to 3.4% in 2026 and 3.1% in 2027.

Although not in a hurry to cut interest rates, the FED has adjusted the pace of narrowing the accounting balance sheet. From April, the Commission will slow down the pace of cutting stock holdings by lowering the monthly repurchase limit for Treasury bonds from $25 billion to $5 billion. The committee will maintain the monthly repurchase limit for corporate debt and mortgaged securities at $35 billion, the Fed said.

The precious metal is currently facing a strong wave of profit-taking from investors after a series of days of continuously setting new peaks in history.

Currently, many experts are still predicting quite positively about the outlook for gold prices. Jeffrey Gundlach, CEO and founder of DoubleLine, said he believes gold could reach $4,000/ounce. The main reason, he said, is the "standing and very strong" gold buying speed of central banks around the world.

Central banks are an important factor driving gold demand, thereby directly affecting prices. Data from the World Gold Council (WGC) shows that central banks have continuously bought more than 1,000 tons of gold per year for 3 consecutive years and are expected to continue this trend in 2025.

"Sustainable buying highlights the strategic importance of gold in official foreign exchange reserves, especially as central banks face increased geopolitical risks," said a senior research expert at the WGC. For example, China has continuously increased its gold reserves for 4 months since November 2024.

Meanwhile, Daniel Ghali - senior commodity strategist at TD Securities commented that if last year, the central bank was the main purchasing force driving gold prices up, now the main driving force has shifted to currency depreciation and risk-off sentiment.

Gold buying by central banks is a long-term trend. Since 2010, the number of central banks buying gold has increased. The reasons they buy gold are also very different, said Ghali.