Gold price update morning of March 17: Gold rings increase, exceeding 183 million VND/tael

Khương Duy |

Gold price update morning of March 17: In the world last night, it fluctuated around 5,000 USD/ounce. Domestic gold increased slightly, gold rings exceeded 183 million VND/tael.

SJC gold bar price

As of 6:00 AM, SJC gold bar prices were listed by DOJI Group at the threshold of 180.1-183.1 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 the threshold of 3 million VND/tael.

Diễn biến giá vàng SJC những phiên giao dịch gần đây. Biểu đồ: Khương Duy
SJC gold price movements in recent trading sessions. Chart: Khuong Duy

SJC gold bar price was listed by Bao Tin Minh Chau at the threshold of 180.1-183.1 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 the threshold of 3 million VND/tael.

Phu Quy Jewelry Group listed SJC gold bar prices at the threshold of 180.1-183.1 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 the threshold of 3 million VND/tael.

Giá vàng miếng SJC tại một số đơn vị kinh doanh. Đơn vị: đồng/lượng. Bảng: Khương Duy
SJC gold bar price at some business units. Unit: VND/tael. Table: Khuong Duy

9999 gold ring price

As of 6:00 AM, DOJI Group listed the price of gold rings at the threshold of 180.1-183.1 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 the threshold of 3 million VND/tael.

Diễn biến giá vàng nhẫn những phiên giao dịch gần đây. Biểu đồ: Khương Duy
Gold ring price movements in recent trading sessions. Chart: Khuong Duy

Bao Tin Minh Chau listed the price of gold rings at the threshold of 179.6-182.6 million VND/tael (buying - selling), down 400,000 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 Gold and Gems Group listed the price of gold rings at 180-183 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.

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.

Giá vàng nhẫn trơn tại một số đơn vị kinh doanh. Đơn vị: đồng/lượng. Bảng: Khương Duy
Price of plain gold rings at some business units. Unit: VND/tael. Table: Khuong Duy

World gold price

At 0:05 AM, world gold prices were listed around the threshold of 4,995 USD/ounce, down 22.7 USD/ounce compared to the previous day.

Diễn biến giá vàng thế giới những phiên giao dịch gần đây. Biểu đồ: Khương Duy
Developments in world gold prices in recent trading sessions. Chart: Khuong Duy

Gold price forecast

According to Kitco, world gold and silver prices fell in the first trading session of the week, although they have recovered somewhat compared to the lowest level of the day. Selling pressure appeared as the crude oil market plummeted and US stock indexes recovered strongly, reducing safe-haven demand for precious metals.

The most recent April gold futures contract decreased by 56.30 USD, to about 5,005.30 USD/ounce. Meanwhile, the May silver futures price decreased by 0.308 USD, to 81.01 USD/ounce. According to analysts, risk-taking sentiment in the financial market has improved, causing cash flow to tend to leave gold.

A noteworthy factor is the statement of US Treasury Secretary Scott Bessent in an interview with CNBC in Paris. He said that some oil tankers are still passing through the Strait of Hormuz, including Iranian and Indian ships. This information partly eases concerns about energy supplies, pulls oil prices down and boosts US stock indexes to rise again.

In addition, the administration of US President Donald Trump has also begun implementing a plan to strongly discharge oil from the US strategic reserves. Bloomberg said Washington has issued a proposal to exchange about 86 million barrels of crude oil, within the program to release a total of 172 million barrels from the Strategic Petroleum Reserves (SPR). The US Department of Energy said that this amount of oil is expected to begin being released to the market from the end of this week and the release process could last about four months.

This move is part of efforts to coordinate with other countries to cool down global energy prices, which have increased sharply since tensions in the Middle East escalated. Falling oil prices also weakened demand for inflation hedging with gold, thereby limiting the upward momentum of precious metals.

From a technical perspective, experts believe that buyers still hold a certain advantage as the medium-term gold trend has not been broken. The next price increase target for the April gold contract is to surpass the strong resistance zone around 5,434.10 USD/ounce - the peak set in March. Conversely, the price reduction target of sellers is to push prices below the important support zone of 4,700 USD/ounce.

In the short term, the nearest resistance levels are determined at 5,044.50 USD and 5,100 USD/ounce, while the support zone is around 4,970 USD and 4,900 USD/ounce. Wyckoff's technical rating index is currently at 6/10, showing that the gold market is still slightly in the upside, but fluctuations may still be large in the near future.

Gold price data is compared to the previous day.

See more news related to gold prices HERE...

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