Gold price update closing session 29.3: Buyers lose 1.3 million VND after a week

SJC gold bar price

Closing the week's trading session, Saigon SJC Jewelry Company listed SJC gold prices at the threshold of 169.8-172.8 million VND/tael (buying - selling). The buying - selling difference is at 3 million VND/tael.

Compared to the closing session of last week (March 22), the price of SJC gold bars at Saigon SJC Jewelry Company increased by 1.8 million VND/tael in both directions.

Meanwhile, DOJI listed SJC gold price at the threshold of 169.8-172.8 million VND/tael (buying - selling). The buying - selling difference is at 3 million VND/tael.

Compared to the closing session of last week (March 22), the price of SJC gold bars at DOJI increased by 1.8 million VND/tael in both directions.

If buying SJC gold bars on March 22 and selling them on today's session (March 29), buyers at Saigon SJC and DOJI Jewelry Company will lose 1.2 million VND/tael.

9999 gold ring price

DOJI Group listed the price of gold rings at the threshold of 169.8-172.8 million VND/tael (buying - selling), an increase of 1.7 million VND/tael in both directions compared to a week ago. The buying - selling difference is at 3 million VND/tael.

Phu Quy Jewelry Group listed the price of gold rings at the threshold of 169.8-172.8 million VND/tael (buying - selling), an increase of 1.8 million VND/tael in both directions compared to a week ago. The buying - selling difference is at 3 million VND/tael.

If buying gold rings on March 22 and selling them on today's session (March 29), buyers at DOJI will lose 1.3 million VND/tael, while Phu Quy will lose 1.2 million VND/tael.

World gold price

Closing the weekly trading session, world gold prices were listed at 4,493 USD/ounce, slightly up 2.8 USD compared to a week ago. After three weeks of deep decline, world gold prices officially showed signs of reversal.

Gold price forecast

After three consecutive weeks of adjustment pressure, world gold prices have shown signs of stabilizing again when closing the week around the threshold of 4,493 USD/ounce. This development helps market sentiment become less pessimistic, while opening up expectations that the precious metal may enter a new recovery phase in the short term.

Many international experts believe that the recent deep declines have not changed the major trend of the gold market. Instead, this may be a necessary adjustment phase before prices find their upward momentum again.

In the context of inflation still containing risks, geopolitical conflicts not cooling down and the US economy sending out many mixed signals, gold is still considered a noteworthy risk hedging channel.

Mr. Naeem Aslam - Investment Director at Zaye Capital Markets - said that although gold prices may still fluctuate in the short term, the current adjustments are still an opportunity for investors to consider buying.

According to him, inflationary pressure has not disappeared, while instability from commodity costs and geopolitical tensions continue to strengthen gold's shelter role.

Sharing the same view, Mr. James Stanley - senior market strategist at Forex. com - said that the recovery response of gold prices at the end of the week is a positive sign for buyers.

He believes that in the current macroeconomic context, there is not much basis to abandon the upward price outlook, especially when gold is still holding important support zones after a strong sell-off at the beginning of the week.

The latest market survey results also show that the upward expectation trend is dominant. Among the 16 Wall Street experts surveyed, 8 people, equivalent to 50%, predict that gold prices will increase next week. In the group of individual investors, 53% of respondents also leaned towards the possibility of prices going up, showing that market sentiment has been more positive than in the previous period.

Next week, investors will continue to monitor a series of important US economic data such as the JOLTS jobs report, consumer confidence index, ADP private sector jobs, ISM manufacturing PMI and especially the non-farm payrolls report.

This information may significantly affect the interest rate expectations of the US Federal Reserve (Fed), thereby directly affecting gold price movements.