Gold price update on the morning of February 27: The decline tends to slow down

Updated SJC gold price

As of 6:00 a.m., DOJI Group listed the price of SJC gold bars at VND89-91.3 million/tael (buy in - sell out), down VND700,000/tael in both directions. The difference between the buying and selling prices of SJC gold was listed by DOJI at 2.3 million VND/tael.

At the same time, the price of SJC gold bars was listed by Saigon Jewelry Company at VND89-91.3 million/tael (buy in - sell out), down VND700,000/tael in both directions. The difference between the buying and selling prices of SJC gold at Saigon Jewelry Company SJC is at 2.3 million VND/tael.

Meanwhile, Bao Tin Minh Chau listed the price of SJC gold bars at 89.3-91.3 million VND/tael (buy - sell), down 800,000 VND/tael for buying and down 900,000 VND/tael for selling. The difference between the buying and selling prices of SJC gold was listed by Bao Tin Minh Chau at 2 million VND/tael.

9999 round gold ring price

As of 6:00 a.m. today, the price of Hung Thinh Vuong 9999 round gold rings at DOJI was listed at 90.2-91.3 million VND/tael (buy - sell); down 800,000 VND/tael for buying and down 700,000 VND/tael for selling. The difference between buying and selling is listed at 1.1 million VND/tael.

Bao Tin Minh Chau listed the price of gold rings at 90.2-91.8 million VND/tael (buy - sell); down 500,000 VND/tael for both buying and down 400,000 VND/tael for selling. The difference between buying and selling is 1.6 million VND/tael.

World gold price

As of 1:54 a.m., the world gold price listed on Kitco was at 2,913.7 USD/ounce, almost unchanged 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 1:55 a.m. on February 27, the US Dollar Index measuring the fluctuations of the greenback against 6 major currencies was at 106.350 points (up 0.11%).

According to Kitco, although the world gold price is trading around a low level, buyers have stabilized the market after a sharp decline on Tuesday. Gold contracts for delivery in April increased by 11.4 USD to 2,930.2 USD/ounce. March delivery silver price increased by 0.449 USD to 32.275 USD/ounce.

The US will release many important economic data on Thursday and Friday, most notably the inflation report on Friday with the personal consumption expenditure (PCE) price index.

Gold contracts in April are still having a short-term advantage as prices continue to increase on the daily chart. If prices continue to rise, the next target for buyers is to overcome the important resistance level of $3,000/ounce. Conversely, if prices fall, sellers will try to push prices below the important support level of $2,850/ounce.

Currently, the nearest resistance level is 2,942 USD/ounce (the highest level on the day), followed by 2,974 USD/ounce (a record high). Meanwhile, the most recent support level was $2,900/ounce, followed by $2,897/ounce (week low).

Important external factors recorded Nymex crude oil futures weakening, hitting a two-month low, currently trading around 68.75 USD/barrel. The yield on the 10-year US Treasury note is around 4.3%.