Gold price update at the close of March 28th: Breaking the 3-week consecutive decline

SJC gold bar price

As of 7:00 PM, SJC gold bar prices were listed by DOJI Group at the threshold of 169.8-172.8 million VND/tael (buying - selling), an increase of 1.2 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 price was listed by Bao Tin Minh Chau at the threshold of 169.8-172.8 million VND/tael (buying - selling), an increase of 1.2 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 the threshold of 169.8-172.8 million VND/tael (buying - selling), an increase of 1.2 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.

9999 gold ring price

As of 7:00 PM, DOJI Group listed the price of gold rings at the threshold of 169.8-172.8 million VND/tael (buying - selling), an increase of 1.2 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 169.8-172.8 million VND/tael (buying - selling), an increase of 1.2 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 the price of gold rings at 169.6-172.6 million VND/tael (buying - selling), an increase of 1 million VND/tael in both buying and selling directions. The difference between buying and selling prices is at 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 7:00 PM, world gold prices were listed around 4,493 USD/ounce, up 66.2 USD compared to the previous day.

Gold price forecast

After three consecutive weeks of strong downward pressure, the world gold market recorded a dramatic recovery when successfully protecting important support levels. At the end of the trading week, spot gold prices approached the 4,500 USD/ounce mark, marking an increase of more than 3% in the last session of the week alone.

In the domestic market, SJC gold bar prices also rebounded strongly, listed around the threshold of 169.8 - 172.8 million VND/tael. This recovery takes place in the context of investor sentiment gradually stabilizing even though geopolitical variables in the Middle East have not completely cooled down.

Many experts believe that the recent decline is just a temporary technical retreat in a major upward cycle. Jesse Colombo - an independent precious metals analyst, affirmed that this sell-off is an overreaction to news from the conflict in Iran.

According to him, the gold market is still in a prolonged "bullfighting" trend and may continue to maintain its growth momentum for at least 7 to 8 years to come. Mr. Colombo emphasized that gold is having to overcome a typical "fear wall" of the early stage in a long-term rising market, and maintaining the current support zone is a very positive signal for strategic investors.

Agreeing with the technical outlook, Mr. Marc Chandler - Managing Director at Bannockburn Global Forex - said that gold maintaining key support levels is proof of the durability of the precious metal.

Mr. Chandler predicts that if gold surpasses the 4,602 USD/ounce resistance level, the next target may soon reach the 4,760 USD/ounce mark. However, analysts also warn investors about short-term risks as some central banks tend to sell gold to raise cash to cope with rising energy costs.

The upcoming trading week is expected to be volatile as the market enters the Easter holiday with the release of the US non-farm payroll report. Fed Chairman Jerome Powell's upcoming statements will also be the guiding principle for the direction of the USD, thereby directly impacting gold prices.

Although pressure from inflation is still present, the return of safe-haven cash flow is creating a solid launching pad for gold in its journey to conquer new peaks.