SJC gold bar price
Closing the week's trading session, Saigon SJC Jewelry Company listed SJC gold prices at 184-187 million VND/tael (buying - selling). The buying - selling difference is at 3 million VND/tael.
Compared to the closing session of last week (February 22), the price of SJC gold bars at Saigon SJC Jewelry Company increased by 6 million VND/tael in both directions.
Meanwhile, DOJI listed SJC gold price at 184-187 million VND/tael (buying - selling). The buying - selling difference is at 3 million VND/tael.
Compared to the closing session of last week (February 22), the price of SJC gold bars at DOJI increased by 8 million VND/tael in both directions.
If buying SJC gold bars in the February 22 session and selling them in today's session (March 1), buyers at Saigon SJC Jewelry Company make a profit of 3 million VND/tael; while buyers of gold at DOJI make a profit of 5 million VND/tael.
9999 gold ring price
At the same time, DOJI Group listed the price of gold rings at the threshold of 183.8-186.8 million VND/tael (buying - selling), an increase of 8.2 million VND/tael in both directions compared to a week ago. The buying - selling difference is at 3 million VND/tael.
Phu Quy Gold and Gems Group listed the price of gold rings at the threshold of 183.8-186.8 million VND/tael (buying - selling), an increase of 5.8 million VND/tael in both directions compared to a week ago. The buying - selling difference is at 3 million VND/tael.
If buying gold rings on February 22 and selling them on today's session (March 1), buyers at DOJI make a profit of 5.2 million VND/tael, while the profit of gold ring buyers in Phu Quy is 2.8 million VND/tael.
The significant profit difference between business units mainly stems from differences in the timing of price adjustments during the Lunar New Year holiday.
World gold price
Closing the week's trading session, world gold prices were listed at 5,278.2 USD/ounce, up 172.3 USD compared to a week ago.
Gold price forecast
Kitco News' latest weekly gold survey shows that optimistic sentiment is clearly dominant in the international market. Among 18 Wall Street experts participating in the survey, up to 12 people, equivalent to 67%, predict that gold prices may exceed the 5,300 USD/ounce mark next week. Only 11% of opinions believe the price will decrease, the rest believe the short-term trend is in a balanced state.
In the group of individual investors, the level of expectation is even stronger. In an online survey with 266 votes, 76% of small investors predicted that gold prices would continue to rise, marking the fourth consecutive week of psychology leaning towards an upward trend being maintained widely.
Many experts believe that the main driver of gold comes from geopolitical instability, the weakening of the USD and increased safe-haven demand.
Mr. Rich Checkan - Chairman and COO of Asset Strategies International - said that the foundation for gold price increases has been strengthened over the years as central banks have stepped up buying.
According to him, the potentially risky US economic context, along with the burden of public debt and political volatility, continues to support the upward trend of precious metals.
Sharing the same view, Mr. James Stanley - Senior Market Strategist at Forex. com - said he still maintains a positive outlook on gold. Although admitting that chasing at high prices may contain short-term risks, he emphasized that no signals are strong enough to reverse the current upward trend.
Next week, the market will pay special attention to a series of US economic data such as the ISM manufacturing and service PMI, the ADP employment report, the non-farm payroll, and retail sales. These figures are considered key factors in orienting monetary policy expectations of the US Federal Reserve (Fed).
In the context that world gold prices are maintaining above 5,200 USD/ounce and closing the week at 5,278.2 USD/ounce, short-term prospects are assessed to lean towards positive. However, actual developments will still largely depend on economic data and global geopolitical factors in the coming days.
Gold price data is compared to a week earlier.
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...
