Gold price update morning 5.3: Recovery as cash flow returns

Khương Duy |

Gold price update morning 5.3: World gold slightly increased, which may lead to domestic gold recovery when the new trading session opens.

SJC gold bar price

As of 6:00 AM, SJC gold bar prices were listed by DOJI Group at the threshold of 181.2-184.2 million VND/tael (buying - selling), down 4 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 181.2-184.2 million VND/tael (buying - selling), down 4 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 the threshold of 181.2-184.2 million VND/tael (buying - selling), down 4 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.

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 gold ring prices at the threshold of 181.2-184.2 million VND/tael (buying - selling), down 4 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 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 182-185 million VND/tael (buying - selling), down 3.2 million VND/tael in both buying and selling directions. The difference between buying and selling prices is at 3 million VND/tael.

Phu Quy Gold and Gems Group listed the price of gold rings at the threshold of 181.2-184.2 million VND/tael (buying - selling), down 4 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.

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 1:20 am, world gold prices were listed around the threshold of 5,117.4 USD/ounce. Compared to the previous day, world gold prices increased by 35.6 USD.

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 increased as investors' safe-haven demand returned amid a major conflict taking place in the Middle East and the outcome of the war remaining uncertain.

However, compared to the peak of the day, the price of precious metals has slightly decreased due to a part of short-term futures traders taking profits.

Technically, buyers on the April gold futures market are aiming for the next goal of bringing the closing price above the strong resistance level at the contract's record peak of 5,626.80 USD/ounce. Meanwhile, the short-term goal of sellers is to pull the futures contract price below the important technical support zone at 5,000 USD/ounce.

The immediate resistance level is determined at 5,200 USD/ounce and then 5,250 USD, while the near support levels are at the low in the night of 5,092.80 USD and then 5,000 USD/ounce. The market rating index according to the Wyckoff method is currently at 6.5 points.

For silver for March delivery, buyers set the next upward target of bringing the closing price above the strong resistance level at the week's highest level of 95.86 USD/ounce. Conversely, the downward target of sellers is to pull the closing price below the important support zone at the February bottom of 71.815 USD/ounce.

The nearest resistance level is currently determined at 87.5 USD/ounce and then 90 USD/ounce, while the support levels are 83 USD/ounce and 81 USD/ounce respectively. The market rating index according to Wyckoff for silver is currently at 5.5 points.

In important external markets, the USD index weakened while Nymex crude oil prices were almost flat, trading around 74.25 USD/barrel. The yield on 10-year US Treasury bonds is currently at 4.1%.

Gold price data is compared to the previous day.

The world gold market operates through two main pricing mechanisms. The first is the spot market, where prices are quoted for transactions and immediate delivery.

The second is the futures contract market, where prices are set for futures delivery. Due to year-end closing activities, December gold futures contracts are currently the most actively traded type on the CME.

See more news related to gold prices HERE...

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