Gold price update on the morning of January 1: Sinking deep to the bottom

Updated SJC gold price

As of 5:30 p.m., DOJI Group listed the price of SJC gold bars at 88.5-90.5 million VND/tael (buy - sell), down 400,000 VND/tael for buying and down 700,000 VND/tael for selling. The difference between the buying and selling prices of SJC gold was listed by DOJI at 2 million VND/tael.

At the same time, the price of SJC gold bars was listed by Saigon Jewelry Company at 88.5-90.5 million VND/tael (buy - sell), down 400,000 VND/tael for buying and down 700,000 VND/tael for selling. The difference between the buying and selling prices of SJC gold at Saigon Jewelry Company SJC is at 2 million VND/tael.

Meanwhile, Bao Tin Minh Chau listed the price of SJC gold bars at 88.8-90.5 million VND/tael (buy - sell), down 400,000 VND/tael for buying and down 700,000 VND/tael for selling. The difference between the buying and selling prices of SJC gold was listed by Bao Tin Minh Chau at 1.7 million VND/tael.

9999 round gold ring price

As of 5:30 p.m. today, the price of Hung Thinh Vuong 9999 round gold rings at DOJI is listed at VND90-91 million/tael (buy - sell); down VND100,000/tael for buying and down VND200,000/tael for selling. The difference between buying and selling is listed at 1 million VND/tael.

Bao Tin Minh Chau listed the price of gold rings at 90.05-91.30 million VND/tael (buy - sell); down 100,000 VND/tael for buying and down 400,000 VND/tael for selling. The difference between buying and selling is 1.25 million VND/tael.

World gold price

As of 6:00 a.m. on March 1, the world gold price listed on Kitco was at 2,858.1 USD/ounce, down 17.7 USD/ounce compared to the same time of the previous session.

Gold price forecast

World gold prices are under pressure in the context of the USD increasing. Recorded at 6:00 a.m. on March 1, the US Dollar Index measuring the fluctuations of the greenback against 6 major currencies was at 107.510 points (up 0.31%).

Gold prices fell sharply in the first trading session of the day in the US on Friday, reaching the lowest level in the past three weeks. Increased profit-taking activities along with selling pressure from short-term futures investors put pressure on the market over the weekend. Silver prices also fell, hitting a four-week low, in the context of upward investors losing all their short-term technical advantage.

Gold contracts for April delivery fell $28.2 to $2,867.7 an ounce, while silver contracts for May delivery fell $0.425 to $11.685 an ounce.

The US personal income and spending report for January, along with the PCE inflation index - the Fed's preferred inflation measure, showed a 2.5% increase compared to the same period last year, in line with market forecasts and lower than December's 2.6%.

The gold and silver markets did not react strongly to this data. Investors were relieved that the inflation index was not higher than expected. Barrons (a leading US financial and investment magazine, specializing in providing news, analysis and comments on the stock market, bonds, commodities and other economic sectors) commented that this figure could make the Fed consider cutting interest rates this year.

The Asian and European stock markets mostly decreased in points last night. Asian stocks plummeted, led by Hong Kong's Hang Seng index (China) lost 3.3%, while Japan's Nikkei index decreased by 2.9%. The wave of US technology stock sell-offs on Thursday, along with new warnings about trade tariffs from the Washington administration, has worried investors in this area. Meanwhile, US stock indexes are expected to open more firmly when the trading session in New York begins.

China has said it will respond to President Donald Trump's new tariffs with "all necessary measures," which could include additional tariffs or tightening export control, according to Bloomberg.

In other developments, Bitcoin fell below $80,000 in the session on Friday, marking a 20% decrease compared to last Thursday. The USD index increased slightly, while WTI crude oil prices fluctuated around 69.25 USD/barrel. The yield on the 10-year US Treasury note is currently at 4.252%.