Gold price update closing session 21.3: Gold rings decrease by another 6 million VND/tael

SJC gold bar price

As of 6:00 PM, SJC gold bar prices were listed by DOJI Group at the threshold of 168-171 million VND/tael (buying - selling), down 5.1 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 prices were listed by Bao Tin Minh Chau at the threshold of 168-171 million VND/tael (buying - selling), down 5.1 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.

Phu Quy Jewelry Group listed SJC gold bar prices at 168-171 million VND/tael (buying - selling), down 5.1 million VND/tael in both buying and selling directions. The difference between buying and selling prices is at 3 million VND/tael.

9999 gold ring price

As of 6:00 PM, DOJI Group listed the price of gold rings at the threshold of 168.1-171.1 million VND/tael (buying - selling), down 6 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.

Bao Tin Minh Chau listed the price of gold rings at the threshold of 169.1-172.1 million VND/tael (buying - selling), down 4 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.

Phu Quy Gold and Gems Group listed gold ring prices at the threshold of 168-171 million VND/tael (buying - selling), down 5.1 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.

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 6:00 PM, world gold prices were listed around the threshold of 4,490.2 USD/ounce, down 172.3 USD compared to the previous day.

Gold price forecast

After the strongest week of decline in many years, the gold market is facing great pressure in the short term as a series of unfavorable factors appear at the same time. Notably, the deep decline occurred in the context of inflation showing signs of increasing again due to rising energy prices, forcing central banks to maintain cautious monetary policy instead of easing as previously expected.

This development is weakening the "safe haven" role of precious metals. As energy costs increase, inflationary pressure returns, policymakers tend to delay or limit interest rate cuts. This is causing speculative cash flow to withdraw from gold, especially after prices have increased sharply in the early stages of the year.

According to Mr. Kelvin Wong - senior market analyst at OANDA, the recent deep decline may be a sign that the market has entered a breakthrough adjustment phase. He believes that the previous increase of more than 20% is likely just a technical recovery, and the next trend may be a prolonged decline in the next few weeks.

Sharing the same view, Mr. Rob Haworth - investment strategist at U.S. Bank Wealth Management - said that the current sell-off pressure is not surprising, because the market was previously pushed up by strong speculation. When prices fell below important levels, many investors buying at the peak above 5,000 USD/ounce were forced to cut losses, creating more downward momentum for the market.

In the short term, gold price movements are expected to depend heavily on geopolitical situation, especially tensions in the Middle East and risks related to energy supply. If the conflict lasts, inflation may continue to linger high, forcing central banks to maintain a tight stance, putting downward pressure on gold prices.

The latest survey by Kitco News also shows that pessimistic sentiment is prevailing on Wall Street, as most experts predict gold prices may continue to fall next week. Meanwhile, individual investors have also begun to shift to a cautious state after a series of sharp declines.

However, some opinions suggest that the long-term outlook for gold has not been completely broken. In the context of the global economy still facing many instabilities and geopolitical risks not cooling down, the precious metal can still regain its upward momentum as unfavorable factors are gradually absorbed.