Gold price update at the closing session 9. 3: Decline but with a recovery trend

SJC gold bar price

As of 5:30 PM, SJC gold bar prices were listed by DOJI Group at the threshold of 181.1-184.1 million VND/tael (buying - selling), down 900,000 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 181.1-184.1 million VND/tael (buying - selling), down 900,000 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 181.3-184.1 million VND/tael (buying - selling), down 900,000 VND/tael in both directions. The difference between buying and selling prices is at the threshold of 2.8 million VND/tael.

9999 gold ring price

As of 7:30 PM, DOJI Group listed gold ring prices at the threshold of 181.1-184.1 million VND/tael (buying - selling), down 900,000 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 181.5-184.5 million VND/tael (buying - selling), down 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 181.1-184.1 million VND/tael (buying - selling), down 900,000 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 7:32 PM, world gold prices were listed around the threshold of 5,109.4 USD/ounce, down 62.6 USD.

Gold price forecast

Experts believe that the gold market is entering a period of strong fluctuations as many opposing factors are impacting. In the context of escalating geopolitical tensions in the Middle East, the precious metal has not yet been able to maintain a clear shelter asset role as expected by many investors.

Some analysts believe that gold prices are under pressure from the increase in bond yields and the strength of the USD. The increase in oil prices due to concerns about energy supply disruptions also makes the market expect longer inflation, thereby raising the possibility that central banks will maintain cautious monetary policy for longer than expected.

Mr. Marc Chandler - Managing Director of Bannockburn Global Forex - said that recent developments show that the conflict in the Middle East does not bring strong growth momentum for gold as many people expected. According to him, the sharp increase in yields amid rising oil prices has caused the market to readjust expectations about when the US Federal Reserve (Fed) will begin its interest rate cut cycle. This puts pressure on the precious metal in the short term.

Technically, many experts believe that the 5,000 USD/ounce mark is playing an important supporting role for gold prices. If this threshold is broken, the market may face a deeper correction.

Mr. Chandler said that if gold prices lose the 5,000 USD/ounce mark, the precious metal is likely to continue to fall to the 4,850 USD/ounce zone as investors begin to narrow their buying positions.

However, some experts still maintain a positive view on the long-term outlook for gold. Mr. Jesse Colombo - independent precious metals analyst and founder of BubbleBubble Report - said that recent fluctuations mainly reflect the correction process after the previous strong increase period.

No assets can increase forever in a straight line. Current fluctuations are just part of a healthy adjustment process," Mr. Colombo said.

According to this expert, the long-term upward trend of gold has not been broken, as factors such as demand from central banks, global economic instability and monetary policy may still continue to support the precious metal market in the coming time.