Gold price update morning of March 30: Receiving positive forecasts from Wall Street experts

SJC gold bar price

As of 6:00 AM, SJC gold bar prices were listed by DOJI Group at the threshold of 169.8-172.8 million VND/tael (buying - selling). The difference between buying and selling prices is at the threshold of 3 million VND/tael.

SJC gold bar price is listed by Bao Tin Minh Chau at the threshold of 169.8-172.8 million VND/tael (buying - selling). 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 169.8-172.8 million VND/tael (buying - selling). The difference between buying and selling prices is at the threshold of 3 million VND/tael.

9999 gold ring price

As of 6:00 AM, DOJI Group listed the price of gold rings at the threshold of 169.8-172.8 million VND/tael (buying - selling). The difference between buying and selling prices is at the threshold of 3 million VND/tael.

Bao Tin Minh Chau listed the price of gold rings at the threshold of 169.8-172.8 million VND/tael (buying - selling). 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 169.6-172.6 million VND/tael (buying - selling). 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.

World gold price

At 5:59 AM, world gold prices were listed around the threshold of 4,493 USD/ounce.

Gold price forecast

After a week of positive trading, optimism about the gold market is gradually returning. The latest weekly gold survey with Wall Street experts shows that half of participating experts have shifted to a more positive view of gold price prospects in the short term. Meanwhile, individual investors on Main Street also slightly leaned towards the scenario that the precious metals will continue to rise this week.

This week's survey recorded 16 analysts participating. Among them, 8 experts, equivalent to 50%, predict gold prices will increase this week. In the opposite direction, 3 people, accounting for 19%, believe that gold prices may decrease. The remaining 5 analysts, equivalent to 31%, believe that short-term risks are in a relatively balanced state, meaning the market is likely to continue to struggle.

Developments from the individual investor group also show a similar trend. In an online poll with 263 votes, there were 139 small traders, equivalent to 53%, predicting that gold prices will increase this week.

Meanwhile, 60 people, accounting for 23%, believe that prices will decrease and the remaining 64 people, equivalent to 24%, predict that the market will move sideways, accumulating more. The fact that experts and individual investors have a fairly similar view is considered an unusual development in recent times.

The recovery momentum of gold appeared after a period of strong market correction pressure. World gold prices have rebounded from the low of the beginning of the week and approached the 4,500 USD/ounce mark, thereby significantly improving investor sentiment. However, analysts still believe that the market has not completely escaped the cautious state, especially when many macroeconomic and geopolitical factors are still dominating the price trend.

Mr. Naeem Aslam - Investment Director at Zaye Capital Markets - said that although it cannot be ruled out that gold prices will continue to fall in the short term, adjustments can still be seen as buying opportunities. According to him, increased inflation risk continues to strengthen the role of gold as a hedging channel against buying power devaluation.

During the week, the market will focus on a series of important US economic data, especially the March jobs report. In addition, Fed Chairman Jerome Powell's statement, JOLTS jobs data, ADP report, retail sales, ISM manufacturing PMI and weekly unemployment claims will also be factors that could strongly impact gold prices.