Gold price update at the closing session on March 20: Domestic gold reverses to increase

SJC gold bar price

As of 5:00 PM, SJC gold bar prices were listed by DOJI Group at the threshold of 173.1-176.1 million VND/tael (buying - selling), an increase of 600,000 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 173.1-176.1 million VND/tael (buying - selling), an increase of 600,000 VND/tael in both buying and selling directions. The difference between buying and selling prices is at the threshold of 3 million VND/tael.

Phu Quy Jewelry Group listed SJC gold bar prices at the threshold of 173.1-176.1 million VND/tael (buying - selling), an increase of 600,000 VND/tael in both buying and selling directions. The difference between buying and selling prices is at the threshold of 3 million VND/tael.

9999 gold ring price

As of 17:00, DOJI Group listed the price of gold rings at the threshold of 173.1-176.1 million VND/tael (buying - selling), an increase of 600,000 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 the threshold of 173.1-176.1 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 the threshold of 3 million VND/tael.

Phu Quy Gold and Gems Group listed the price of gold rings at the threshold of 173.1-176.1 million VND/tael (buying - selling), an increase of 600,000 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 4:56 PM, world gold prices were listed around the threshold of 4, 662.5 USD/ounce, down 18.4 USD compared to the previous day.

Gold price forecast

World gold prices are showing signs of slight recovery after a deep decline, but still cannot regain the important milestone of 4,700 USD/ounce. This development shows that the precious metal market is still under great pressure from many macroeconomic factors, especially tight monetary policy and the strength of the USD.

In the short term, gold prices are assessed to face many risks as the US Federal Reserve (Fed) maintains a "hawkish" stance. Maintaining high interest rates makes profitable assets more attractive, thereby reducing gold's shelter role. At the same time, the strengthening USD also makes the precious metal more expensive for investors holding other currencies.

In addition, positive US economic data continues to put pressure on gold prices. As the world's largest economy shows stable growth potential, demand for safe assets like gold tends to decrease. In addition, escalating geopolitical tensions have caused energy prices to remain high, increasing inflationary pressure and prolonging a high interest rate environment - a disadvantage to gold.

Mr. Nicholas Frappell - Global Director of Organizational Markets at ABC Refinery said that gold is still holding some important technical support levels and is likely to recover back to the 4,800 USD/ounce zone if demand improves. However, he also noted that market sentiment is still quite cautious, as investors tend to sell more in the context of strong fluctuations.

From a long-term perspective, some experts still maintain a positive view on the prospects of the precious metal. Mr. Tavi Costa - CEO of Azuria Capital believes that the current adjustments are mainly short-term and may be accumulation opportunities. According to him, increased global public debt pressure and the possibility of countries easing monetary policy in the future will continue to support gold prices.

In general, in the coming time, gold prices may continue to fluctuate strongly according to information on interest rates, inflation and geopolitics. Investors need to be cautious, especially in the context that the buying-selling spread in the country is still high, posing a risk of short-term losses.