Updated SJC gold price
As of 9:45 a.m., DOJI Group listed the price of SJC gold bars at VND91.6-93.3 million/tael (buy - sell), an increase of VND1 million/tael for buying and VND700,000/tael for selling. The difference between buying and selling prices is at 1.7 million VND/tael.
At the same time, the price of SJC gold bars was listed by Saigon Jewelry Company Limited - SJC at 91.6-93.3 million VND/tael (buy - sell), an increase of 1 million VND/tael for buying and an increase of 700,000 VND/tael for selling. The difference between buying and selling prices is at 1.7 million VND/tael.
Meanwhile, Bao Tin Minh Chau listed the price of SJC gold bars at 91.6-93.3 million VND/tael (buy - sell), an increase of 1 million VND/tael for buying and an increase of 700,000 VND/tael for selling. The difference between buying and selling prices is at 1.7 million VND/tael.
9999 round gold ring price
As of 9:30 a.m. today, the price of Hung Thinh Vuong 9999 round gold rings at DOJI was listed at VND92.4-93.8 million/tael (buy - sell); increased by VND800,000/tael for buying and increased by VND700,000/tael for selling. The difference between buying and selling is listed at 1.4 million VND/tael.
Bao Tin Minh Chau listed the price of gold rings at 92.4-93.9 million VND/tael (buy - sell); increased by 700,000 VND/tael for both buying and 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 9:30 a.m. on March 12, the world gold price listed on Kitco was at 2,916 USD/ounce USD/ounce, up 18.8 USD/ounce compared to the same time in the previous session.
Gold price forecast
World gold prices increased despite the increase of the USD. Recorded at 9:40 a.m. on March 12, the US Dollar Index measuring the fluctuations of the greenback against 6 major currencies was at 103.495 points (up 0.21%).
Mr. Jim Wyckoff - senior analyst of Kitco commented that gold and silver prices increased sharply due to increased demand for safe-haven assets due to concerns about the risk of a US economic recession and a major sell-off in the US stock market.
Analyst James Hyerczyk at FX Empire commented that gold prices increased last night as concerns about trade tensions boosted safe-haven demand.
The USD index fell to a four-month low, making gold more attractive to foreign buyers. Currently, traders are focusing on upcoming US inflation data, which could influence US Federal Reserve (FED) policy expectations and gold price prospects.
Hyerczyk said market sentiment remains cautious amid constantly changing US trade policy. US President Donald Trump has changed his stance on tariffs, imposing and then delaying tariffs on Canada and Mexico, and increasing tariffs on Chinese goods, disrupting the global market.
China and Canada have paid back with their own tariffs, increasing economic uncertainty, he said.
The US president also mentioned the possibility of the economy falling into recession, making investors even more worried. Financial Secretary Scott Bessent described the current period as the detoxification process due to public spending cuts, while some analysts questioned the risk of recession.
This mixed outlook has helped gold maintain its position as investors seek shelter in volatile market conditions, Hyerczyk said.
All of these factors add to the importance of this week's inflation data, in which the CPI report released on Wednesday is expected to show cooling inflation.
If the CPI is lower than expected, expectations of a Fed easing policy will increase, thereby supporting gold demand. Conversely, higher-than-expected figures could create downward pressure on prices. PPI data released on Thursday will also provide more information on inflation trends, he said.
Important economic data for the week
Wednesday: US consumer price index (CPI), monetary policy decision of the Bank of Canada.
Thursday: US Producer Price Index (PPI), weekly jobless claims.
Friday: University of Michigan Preliminary Consumer Confidence Index.
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