Updated gold price at the end of session 27.2: Missed important psychological mark

Updated SJC gold price

As of 9:00 p.m., DOJI Group listed the price of SJC gold bars at 88.9-91.2 million VND/tael (buy - sell), down 100,000 VND/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.

At the same time, the price of SJC gold bars was listed by Saigon Jewelry Company at 88.9-91.2 million VND/tael (buy in - sell out), down 100,000 VND/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 VND89.2-91.2 million/tael (buy - sell), down VND100,000/tael for both buying and selling. The difference between the buying and selling prices of SJC gold was listed by Bao Tin Minh Chau at 2 million VND/tael.

9999 round gold ring price

As of 9:00 p.m. today, the price of Hung Thinh Vuong 9999 round gold rings at DOJI was listed at 90.1-91.2 million VND/tael (buy - sell); down 100,000 VND/tael for both buying and selling. The difference between buying and selling is listed at 1.1 million VND/tael.

Bao Tin Minh Chau listed the price of gold rings at 90.15-91.7 million VND/tael (buy - sell); down 50,000 VND/tael for buying and down 100,000 VND/tael for selling. The difference between buying and selling is 1.55 million VND/tael.

World gold price

As of 9:00 p.m., the world gold price listed on Kitco was at 2,888.4 USD/ounce, down 25.4 USD/ounce compared to the same time of the previous session.

Gold price forecast

World gold prices fell sharply in the context of the USD increasing. Recorded at 9:00 p.m. on February 27, the US Dollar Index measuring the fluctuations of the greenback against 6 major currencies was at 106.915 points (up 0.58%).

After rising nearly 14.46% for more than two months, gold prices slowed down as investors began taking profits. Precious metal hit record high of 2,956.15 USD/ounce on Monday

According to Reuters, gold prices started to decline from Wednesday. Investors focus on inflation data and the latest developments in US President Donald Trump's tax plan.

According to Kitco, gold prices fell as a series of data from the US economy were released. long-term commodity orders in the US unexpectedly increased by 3.1% in January. The US Commerce Department said today that long-term commodity orders increased 3.1% last month, after falling -1.8% in December. This figure far exceeded analysts' forecasts, with economists predicting an increase of only 1.3%.

Core orders, excluding transportation, fluctuated at 0.0% in January, below the forecast of 0.4% and 0.3% in December.

Meanwhile, orders for non-defense materials (excluding aircraft manufacturing) increased by 0.8% in January, significantly higher than the forecast of 0.4% and 0.2% in December.

In addition, the precious metal is also under pressure as US GDP growth in the fourth quarter remained unchanged at 2.3%, inflation increased. Gold prices have struggled to find bullish momentum after data showed the US economy continues to expand, albeit at a slower pace.

The second report on the US Gross Domestic Product (GDP) shows that the economy will grow by 2.3% in the last quarter of 2024, according to the US Bureau of Economic Analysis (BEA) today. This figure remains unchanged from the original estimate and is in line with analysts' expectations.

However, the report also shows that inflationary pressures continue to increase. The preliminary GDP price index increased by 2.4%, significantly higher than the initial estimate of 2.2%. Analysts had previously predicted that the index would not change.

At the same time, the core personal consumption expenditure price index (core PCE) in the quarter - excluding commodity and energy prices - increased by 2.7%, higher than the forecast of 2.5% by economists.