Gold price update morning of March 20: Deep drop, breaking the 4,600 USD/ounce mark

Khương Duy |

Gold price update morning of March 20: World gold last night continued to plummet, falling by more than 280 USD/ounce.

SJC gold bar price

As of 6:00 AM, SJC gold bar prices were listed by DOJI Group at the threshold of 172.5-175.5 million VND/tael (buying - selling), down 7.5 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.

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 172.5-175.5 million VND/tael (buying - selling), down 7.5 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.

Phu Quy Jewelry Group listed SJC gold bar prices at 172.5-175.5 million VND/tael (buying - selling), down 7.5 million VND/tael in both buying and selling directions. The difference between buying and selling prices is at 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 172.5-175.5 million VND/tael (buying - selling), down 7.5 million VND/tael in both buying and selling directions. The difference between buying and selling prices is at 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 173.3-176.3 million VND/tael (buying - selling), down 5.9 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.

Phu Quy Gold and Gems Group listed the price of gold rings at 172.5-175.5 million VND/tael (buying - selling), down 7 million 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 0:00, the world gold price was listed around the threshold of 4,584.3 USD/ounce, a sharp decrease of 283.2 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

World gold prices are under strong downward pressure as market sentiment becomes cautious in the face of unfavorable macroeconomic factors. In the most recent trading session, gold prices fell to their lowest level in about 6 weeks, losing more than 900 USD/ounce compared to the peak set at the end of January. The deep decline shows that the correction trend is still dominant in the short term.

The main reason comes from concerns that inflation may remain high, forcing central banks, especially the US Federal Reserve (Fed), to continue to maintain tight monetary policy.

The Fed's signal that it can only cut interest rates in this year, along with the forecast that inflation will rise to 2.7% in 2026, has weakened monetary easing expectations. This supports the USD and puts pressure on gold prices - a non-performing asset.

In addition, geopolitical tensions in the Middle East are escalating, with back-and-forth attacks between Iran and Israel, increasing risks to the global economy. Rising energy prices lead to cost pressure, while negatively affecting consumer and production demand, including demand for precious metals.

Technically, the short-term trend of gold is still downwards. Experts predict that if gold prices cannot surpass the resistance zone of 4,750 - 4,800 USD/ounce, the possibility of further adjustment is very high. Conversely, important support levels are located around the 4,450 - 4,423 USD/ounce zone. If these levels are broken, gold prices may continue to fall deeper in the near future.

However, in the medium and long term, gold is still considered a safe haven channel in the context of increasing geopolitical instability. The developments of interest rates, inflation and the strength of the USD will continue to be key factors dominating the gold price trend in the coming time.

Gold price data is compared to the previous day.

See more news related to gold prices HERE...

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Gold prices may fall deeper as pressure increases

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