Updated SJC gold price
As of 6:00 a.m., DOJI Group listed the price of SJC gold bars at 90.7-92.7 million VND/tael (buy in - sell out), unchanged in both buying and selling directions. The difference between the buying and selling prices of SJC gold was listed by Saigon Jewelry Company at VND2 million/tael.
At the same time, the price of SJC gold bars was listed by DOJI Group at 90.7-92.7 million VND/tael (buy - sell), unchanged in both buying and selling directions. The difference between the buying and selling prices of SJC gold was listed by DOJI at 2 million VND/tael.
Meanwhile, Bao Tin Minh Chau listed the price of SJC gold bars at 90.7-92.7 million VND/tael (buy - sell), down 200,000 VND/tael for buying and kept the same 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 VND91.4-93 million/tael (buy - sell); down VND300,000/tael for buying and kept the same for selling. The difference between buying and selling is listed at 1.6 million VND/tael.
Bao Tin Minh Chau listed the price of gold rings at 91.6-93.1 million VND/tael (buy - sell); down 400,000 VND/tael for buying and down 100,000 VND/tael for selling. The difference between buying and selling is 1.5 million VND/tael.
Recent trading sessions of plain gold rings have often fluctuated in the same direction as the world. In the context of the world market recording a strong increase, the domestic gold ring price this morning may increase.
World gold price
As of 6:10 a.m. on March 7, the world gold price listed on Kitco was at 2,911.1 USD/ounce, down 13.6 USD/ounce.
Gold price forecast
World gold prices fell despite the decline of the USD. Recorded at 6:10 a.m. on March 7, the US Dollar Index measuring the fluctuations of the greenback against 6 major currencies was at 104.160 points (down 0.09%).
Yesterday's session, some investors took a slight profit after the increase at the beginning of the week, but the buying pressure when prices decreased helped the market stabilize again.
Short-term traders tend to stay out of the market waiting for the US jobs report on Friday. Gold contracts in April increased slightly by 0.8 USD, to 2,925.2 USD/ounce. silver prices for May delivery increased by 0.136 USD, to 33.27 USD/ounce.
The important report this week will be the February employment figures released by the US Department of Labor on Friday morning. The non-farm payroll is forecast to increase by 170,000 jobs, higher than the increase of 143,000 in January.
US stock indexes fell sharply in the middle of the session, as the fear of increasing risks increased. Investors are concerned about retaliatory tax measures between major economies, which could push the global economy into recession.
In an email to customers, David Morrison of Trade Nation commented: US President Donald Trump is pursuing drastic trade policies and is ready to suffer losses to achieve his goals. tariffs may be the cause of the latest downturn, but that is not the only story. There is growing speculation about the possibility of a recession in the US this year.
GDP growth forecasts have been significantly lowered, while inflation is still well above the 2% target set by the US Federal Reserve (FED). Recent economic data have been disappointing, especially consumer confidence, retail sales and weekly jobless claims.
In another development, the European Central Bank (ECB) has cut key interest rates by another 0.25%, as expected.
The April gold contract still holds a short-term technical advantage. The next upside target for buyers is to close above strong resistance at the contract peak of 2,974 USD/ounce.
Meanwhile, the sellers will aim to push prices below the important support level at the bottom of last week at 2,844.1 USD/ounce. The first resistance was at $2,941.30 an ounce, followed by $2,950 an ounce. First support was at $2,900 an ounce, followed by a Tuesday low of $2,892.50 an ounce.
In peripheral markets, Nymex crude oil prices decreased slightly, trading around 66.25 USD/barrel. The yield on the 10-year US Treasury note is currently at 4.30%.
See more news related to gold prices HERE...
