Gold price update on the morning of March 20: Continue to break the peak

Phan Anh (Theo Kitco, SP Angel) |

Gold price update on the morning of March 20: World gold prices continue to increase, breaking a new record.

Updated SJC gold price

As of 6:30 a.m., the price of SJC gold bars was listed by Saigon Jewelry Company at VND98-99.5 million/tael (buy in - sell out), an increase of VND1.3 million/tael for both buying and selling. The difference between buying and selling prices is at 1.5 million VND/tael.

At the same time, the price of SJC gold bars was listed by DOJI Group at 98-99.5 million VND/tael (buy - sell), an increase of 1.3 million VND/tael for both buying and selling. The difference between buying and selling prices is at 1.5 million VND/tael.

Dien bien gia vang SJC nhung phien giao dich gan day. Bieu do: Phan Anh
SJC gold price developments in recent trading sessions. Chart: Phan Anh

Meanwhile, Bao Tin Minh Chau listed the price of SJC gold bars at 98-99.5 million VND/tael (buy - sell), an increase of 1.3 million VND/tael for both buying and selling. The difference between buying and selling prices is at 1.5 million VND/tael.

9999 round gold ring price

As of 6:30 a.m. today, the price of Hung Thinh Vuong 9999 round gold rings at DOJI was listed at 98.3-99.9 million VND/tael (buy - sell); an increase of 1.1 million VND/tael for buying and an increase of 1.2 million VND/tael for selling. The difference between buying and selling is listed at 1.6 million VND/tael.

Dien bien gia vang nhan nhung phien giao dich gan day. Bieu do: Phan Anh
Gold ring price developments in recent trading sessions. Chart: Phan Anh

Bao Tin Minh Chau listed the price of gold rings at 98.35-100 million VND/tael (buy - sell); increased by 830,000 VND/tael for buying and increased by 1.2 million VND/tael for selling. The difference between buying and selling is 1.65 million VND/tael.

World gold price

As of 6:30 a.m., the world gold price listed on Kitco increased sharply to 3,050.2 USD/ounce, up 13.2 USD/ounce.

Dien bien gia vang the gioi nhung phien giao dich gan day. Nguon: Kitco
World gold price developments in recent trading sessions. Source: Kitco

Gold price forecast

World gold prices skyrocketed despite the increase of the USD. Recorded at 6:30 a.m., the US Dollar Index measuring the fluctuations of the greenback against 6 major currencies was at 103.1 points (up 0.2%).

Gold prices increased after the US Federal Reserve (FED) announced the Federal Open Market Committee's policy statement without any major surprises. Meanwhile, silver futures fell sharply due to profit-taking by short-term traders after a recent rally. Gold prices for April delivery increased by 4.1 USD to 3,045 USD/ounce, while silver for May delivery decreased by 0.508 USD to 34.3 USD/ounce.

The Fed did not change interest rates as expected, and said that the US economic outlook is currently uncertain and inflation remains high. The Fed also announced that it will slow down the narrowing of the accounting balance sheet, this move is considered a slight easing of monetary policy.

The gold market reacted positively when the FOMC did not give a policy tightening view. Investors are now awaiting the press conference of Fed Chairman Jerome Powell.

According to brokerage SP Angel, gold is attracting more and more attention, as fund managers increase their investment holdings, as reflected in holding gold ETFs up 5% over the past 12 months. However, this holdings are still lower than the COVID-19 period, creating room for gold prices to continue to increase as speculators enter the market."

The April gold contract still holds a solid technical advantage in the short term. The next target for buyers is to close above the important resistance level of 3,100 USD/ounce, while the seller aims to push prices below strong support at 2,900 USD/ounce.

The first resistance level was the contract peak of 3,052.4 USD, followed by 3,065 USD. First support was at the lowest level in the session of 3,031.3 USD, followed by a low of 3,008.2 USD on Tuesday.

In outside markets, WTI crude oil prices increased slightly to about 67.25 USD/barrel. The yield on the 10-year US Treasury note is currently at 4.296%.

Note: The article data compares with the same time of the previous trading session.

See more news related to gold prices HERE...

Phan Anh (Theo Kitco, SP Angel)
TIN LIÊN QUAN

Updated gold price at the end of session 19.3: Forecast of new peak

|

Updated gold price at the end of the session on March 19: Experts predict that gold futures could reach 3,200 USD/ounce in the next month.

ETF fever and speculative wave will push gold prices higher

|

Gold prices may continue to increase as an important part of the market is changing momentum, while another part has just begun to join.

Gold prices struggle to peak due to geopolitical concerns

|

Gold prices fluctuated at high levels due to profit-taking and concerns about geopolitical tensions and increased economic risks.

From July 1, only 10 provinces will have 1 vehicle license plate symbol

|

From July 1, the whole country will have only 10 provinces with 1 vehicle license plate symbol. The remaining provinces all have 2 or more license plate symbols.

Mr. Nguyen Khac Than becomes the new Chairman of the People's Committee of Hung Yen province

|

Hung Yen - On June 30, the ceremony to announce the National Assembly's Resolution on the merger of Hung Yen and Thai Binh provinces took place in Hung Yen province.

An Phu intersection underpass officially opens to traffic, expected to reduce congestion at the eastern gateway of Ho Chi Minh City

|

At 12:00 on June 30, the 4-lane underpass at An Phu intersection, Ho Chi Minh City was officially put into operation.

List of leaders of 34 provinces and cities after merging administrative units

|

List of leaders of provinces, cities, communes and wards after the merger of administrative units.

Announcing the list of Secretaries of 126 communes and wards of Hanoi when implementing 2-level government

|

Hanoi - Below is a list of Secretaries of communes and wards of Hanoi when implementing 2-level government.

Updated gold price at the end of session 19.3: Forecast of new peak

Phan Anh |

Updated gold price at the end of the session on March 19: Experts predict that gold futures could reach 3,200 USD/ounce in the next month.

ETF fever and speculative wave will push gold prices higher

Phan Anh (Theo Kitco) |

Gold prices may continue to increase as an important part of the market is changing momentum, while another part has just begun to join.

Gold prices struggle to peak due to geopolitical concerns

Phan Anh (Theo Reuters) |

Gold prices fluctuated at high levels due to profit-taking and concerns about geopolitical tensions and increased economic risks.