Gold price update at the closing session on March 30: Reverse and increase

SJC gold bar price

As of 5:30 PM, SJC gold bar prices were listed by DOJI Group at the threshold of 170.8-173.8 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 the threshold of 3 million VND/tael.

SJC gold bar price was listed by Bao Tin Minh Chau at the threshold of 170.7-73.8 million VND/tael (buying - selling), an increase of 900,000 VND/tael on the buying side and an increase of 1 million VND/tael on the selling side. The difference between buying and selling prices is at the threshold of 3.1 million VND/tael.

Phu Quy Jewelry Group listed SJC gold bar prices at the threshold of 170.8-173.8 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 the threshold of 3 million VND/tael.

9999 gold ring price

As of 5:30 PM, DOJI Group listed the price of gold rings at 170.8-173.8 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.

Bao Tin Minh Chau listed the price of gold rings at 170.3-173.3 million VND/tael (buying - selling), an increase of 500,000 VND/tael in both buying and selling directions. The difference between buying and selling prices is at 3 million VND/tael.

Phu Quy Gold and Gems Group listed the price of gold rings at the threshold of 170.8-173.8 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.

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 5:30 PM, world gold prices were listed around the threshold of 4,530.6 USD/ounce, up 37.6 USD compared to the previous day.

Gold price forecast

World gold prices rebounded in the first session of the week thanks to bottom-fishing buying after a period of deep correction. However, the short-term upward outlook is still not really solid as the market continues to be under pressure from a stronger USD, rising oil prices and expectations that the US Federal Reserve (FED) will maintain a higher interest rate level for longer.

According to the latest developments, spot gold has jumped more than 1% after falling to its lowest level in many months last week. However, on a monthly basis, this precious metal is still heading towards its strongest decline in nearly two decades.

This shows that cautious sentiment still dominates the market, especially as geopolitical tensions in the Middle East continue to push oil prices up, thereby raising concerns about prolonged inflation.

Mr. Ricardo Evangelista - senior analyst at ActivTrades - said that the current upward momentum mainly reflects buying activity when prices fell, after gold hit a multi-month low last week.

However, he also noted that the maintenance of high oil prices could cause prolonged inflationary pressure, forcing central banks to continue to maintain tight monetary policy. This is not a very positive factor for gold, because high interest rates often reduce the attractiveness of non-performing assets such as precious metals.

From a technical perspective, some experts believe that gold still needs more confirmation signals before forming a sustainable upward trend. Mr. Marc Chandler - Managing Director of Bannockburn Global Forex - believes that if gold prices surpass the resistance zone around 4,602 USD/ounce, technical prospects may improve significantly and open up the possibility of moving towards the 4,760 USD/ounce zone.

Conversely, if pressure from geopolitical conflicts and the USD continues, gold may return to testing lower support zones.

In the short term, the gold market will continue to closely monitor the statement of FED Chairman Jerome Powell and a series of US economic data, especially the jobs report and the manufacturing index. These are considered factors that may determine whether gold will maintain technical recovery or continue to face adjustment pressure in the coming sessions.