Updated gold price at the end of session 24.2: Reversing the 92 million VND mark

Updated SJC gold price

As of 5:30 p.m., the price of SJC gold bars was listed by Saigon Jewelry Company at VND89.7-92 million/tael (buy in - sell out), an increase of VND300,000/tael in both directions.

The difference between the buying and selling prices of SJC gold at Saigon Jewelry Company SJC is at 2.3 million VND/tael.

Meanwhile, Bao Tin Minh Chau listed the price of SJC gold bars at 90-92 million VND/tael (buy - sell), an increase of 400,000 VND/tael for buying and an increase of 300,000 VND/tael for selling. The difference between the buying and selling prices of SJC gold was listed by Bao Tin Minh Chau at 2 million VND/tael.

DOJI Group listed the price of SJC gold bars at VND89.7-92 million/tael (buy - sell), an increase of VND300,000/tael in both directions. The difference between the buying and selling prices of SJC gold was listed by DOJI at 2.3 million VND/tael.

9999 round gold ring price

As of 5:30 p.m. today, the price of Hung Thinh Vuong 9999 round gold rings at DOJI was listed at 90.5-92 million VND/tael (buy - sell); increased by 500,000 VND/tael for buying and increased by 300,000 VND/tael for selling. The difference between buying and selling is listed at 1.5 million VND/tael.

Bao Tin Minh Chau listed the price of gold rings at 90.6-92.1 million VND/tael (buy - sell); increased by 400,000 VND/tael for buying and increased by 300,000 VND/tael for selling. The difference between buying and selling is 1.5 million VND/tael.

World gold price

As of 5:30 p.m., the world gold price listed on Kitco was at 2,940.5 USD/ounce, up 4.3 USD/ounce compared to the same time of the previous session.

Gold price forecast

World gold prices increased slightly despite the high USD. Recorded at 5:35 p.m. on February 24, the US Dollar Index measuring the fluctuations of the greenback against 6 major currencies was at 106.525 points (up 0.01%).

James Stanley - Senior strategist at Forex.com predicted gold prices will increase: "Buying has not shown any signs of slowing down and this week continues to be a strong candle on the weekly chart. I think there is a high chance that gold will reach $3,000/ounce in the near future, but there may also be a big change around that level."

Rich Checkan - Chairman and CEO of Asset Strategies International commented that gold could soon test the $3,000/ounce mark due to the uncertainty in the market and geopolitics: "I believe that next week prices will continue to approach this threshold".

Barbara Lambrecht from Commerzbank remains optimistic about gold next week: "Gold is benefiting from instability, with prices continuously setting new peaks. The $3,000/ounce mark is getting closer and likely to be reached soon."

Lukman Otunuga - Head of Market Analysis at FXTM believes that a weak USD could push gold prices to new highs: "If the USD continues to be pressured next week, this could boost gold's rally - bringing the dream of $3,000/ounce closer to reality".

Sean Lusk - co-head of commercial risk prevention at Walsh Trading commented: "There may not be much too new in the overall picture, but gold is still supported quite well. The USD is rising, but shows signs of slowing down."

Lusk also emphasized: "I think there is too much uncertainty, and that is why gold has skyrocketed and set a new peak in the past two months, because no one knows where it will go. A 10% increase in just the first half of a financial quarter is a fairly fast pace, but not unprecedented."

Jim Wyckoff - Senior analyst of Kitco expects gold prices to continue to increase in the short term: "Gold will increase due to safe-haven demand and positive technical factors will create a solid foundation for the gold market".

On the other hand, Adrian Day - chairman of Adrian Day Asset Management said that gold prices will decrease: "The increase in gold in the past two months has far exceeded the usual trend, so there may be a correction. However, I think this decline will be short and insignificant. The reasons for investors to buy gold are still there, while North American investors are not yet taking a strong stance."

Marc Chandler - CEO of Bannockburn Global Forex warned about the possibility of a short-term correction: "Gold hit a record high of nearly 2,955 USD/ounce on February 20. However, technically, it is starting to show signs of being easily adjusted down. The increase of more than 13% since the beginning of the year may make investors hesitate and slow down their buying momentum".