Updated gold price at the end of session 29.3: Receive positive forecast

Updated SJC gold price

As of 6:15 p.m., the price of SJC gold bars was listed by Saigon Jewelry Company at VND98.4-100.7 million/tael (buy - sell), an increase of VND200,000/tael for buying and VND500,000/tael for selling. The difference between buying and selling prices is at 2.3 million VND/tael.

At the same time, the price of SJC gold bars was listed by DOJI Group at 98.4-100.7 million VND/tael (buy - sell), an increase of 200,000 VND/tael for buying and an increase of 500,000 VND/tael for selling. The difference between buying and selling prices is at 2.3 million VND/tael.

Meanwhile, Bao Tin Minh Chau listed the price of SJC gold bars at 98.5-100.7 million VND/tael (buy - sell), an increase of 200,000 VND/tael for buying and an increase of 500,000 VND/tael for selling. The difference between buying and selling prices is at 2.2 million VND/tael.

9999 round gold ring price

As of 6:45 p.m. today, the price of Hung Thinh Vuong 9999 round gold rings at DOJI was listed at 98.4-100.7 million VND/tael (buy in - sell out); unchanged for buying and increased by 500,000 VND/tael for selling. The difference between buying and selling is listed at 2.3 million VND/tael.

Bao Tin Minh Chau listed the price of gold rings at 98.9-100.9 million VND/tael (buy - sell); increased by 300,000 VND/tael for both buying and selling. The difference between buying and selling is at 2 million VND/tael.

World gold price

As of 6:15 p.m., the world gold price was listed at 3,084.7 USD/ounce, up 8.1 USD/ounce.

Gold price forecast

World gold prices received support when the USD decreased. Recorded at 6:15 p.m. on March 29, the US Dollar Index measuring the fluctuations of the greenback against 6 major currencies was at 103.710 points (down 0.27%).

Not only holding support above $3,000/ounce, gold is also expected to soon reach $3,100/ounce - a milestone that could be just a small obstacle in this rally. Gold is now on track to end the first quarter of the year with an increase of 18% - the strongest quarter increase since July 1986.

Neils Christensen - an analyst at Kitco News commented: "Last week, I wrote that the gold market seemed a bit exhausted, but the increased investment demand could help prices go up. Maybe I was too cautious in keeping this optimistic view."

Naeem Aslam - Investment Director at Zaye Capital Markets said that although gold has had a significant increase this year, prices still have the momentum to go up:

Investors clearly understand that most of the negative news has been reflected in prices, so there is not much room for price reduction. Especially considering the parabol spikes we have witnessed.

However, traders need to remember that the trade war is not over, which means that there are still many uncertainties. This shows that after a correction, gold prices may continue to rise.

Tom Bruce - Macro investment strategist at Tanglewood Total Wealth Management, commented that even when gold prices are high, this precious metal is still an attractive safe haven asset. He said gold has only had minor corrections due to high levels of economic and geopolitical instability. In this context, he continues to expect gold prices to increase further.

There are both technical and fundamental factors supporting golds rally. If you look at everything going on in the world economy and how the Donald Trump administration restructures global trade, it creates a lot of uncertainty - and that is a positive signal for gold, said Bruce.

According to Kitco News' weekly survey, industry experts show strong optimism about gold's upside potential. Meanwhile, retail investors are only modestly increasing expectations.

This week, 20 analysts participated in the survey of Kitco News. After last week with a balanced mentality, the buyers on Wall Street almost took complete control. There are 15 experts (accounting for 85%) predicting that gold prices will continue to increase next week. Only 1 expert (5%) predicted that gold would fall, while the remaining 2 (10%) predicted that gold would move sideways and continue to accumulate.

Meanwhile, Kitco's online poll recorded 202 votes. 129 investors (64%) expect gold prices to continue to rise next week, 39 (19%) predict gold will fall and the remaining 34 (17%) expect gold prices to move sideways.