Gold price today March 14: Prolonged decline

Khương Duy |

Gold price today March 14: Gold has just closed its second consecutive week of price decrease.

SJC gold bar price

As of 9:30 am, SJC gold bar prices were listed by DOJI Group at the threshold of 179.6-182.6 million VND/tael (buying - selling), down 2.2 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 179.6-182.6 million VND/tael (buying - selling), down 2.2 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 179.6-182.6 million VND/tael (buying - selling), down 2.2 million VND/tael in both buying and selling directions. The difference between buying and selling prices is at 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 9:30 am, DOJI Group listed the price of gold rings at 179.6-182.6 million VND/tael (buying - selling), down 1.7 million VND/tael in both buying and selling directions. The difference between buying and selling prices is at 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 the threshold of 179.6-182.6 million VND/tael (buying - selling), down 2.2 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 Gold and Gems Group listed the price of gold rings at 179.5-182.5 million VND/tael (buying - selling), down 2.3 million VND/tael in both buying and selling directions. 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.

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 9:37 am, world gold prices were listed around the threshold of 5,017.7 USD/ounce, down 105.3 USD compared to the previous day.

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

World gold prices in the past week fluctuated sharply as the market continuously reacted to geopolitical developments in the Middle East and global monetary policy expectations. The precious metal at one point increased to a peak of about 5,240 USD/ounce at the beginning of the week, but then quickly weakened and retreated to near the important support level of 5,000 USD/ounce as profit-taking pressure increased.

According to the latest survey by Kitco News, Wall Street analysts are still divided on the short-term outlook for gold. A part of experts believe that the precious metal still has room to increase if it continues to maintain important support levels.

Mr. James Stanley - senior market strategist at Forex. com - said that gold maintaining trading above the 5,000 USD/ounce threshold is a noteworthy sign. According to him, this shows that the market is gradually accepting a new high price for the precious metal, and if this support level continues to be maintained, gold prices may have more opportunities to rise again in the near future.

However, some other experts warn that the possibility of adjustment is still present. Mr. Rich Checkan - Chairman and CEO of Asset Strategies International - said that fluctuations may appear next week when the US Federal Reserve (FED) holds a monetary policy meeting. According to him, although it is likely that the FED will keep interest rates unchanged, the market may still react negatively in the short term, putting downward pressure on gold prices.

In addition to monetary policy factors, the developments of conflict in the Middle East are also significantly affecting investor sentiment. Some experts believe that geopolitical tensions may support gold in the long term, but in the short term the market is still strongly affected by fluctuations in the USD, bond yields and energy prices.

Technical analysis also shows that the 5,000 USD/ounce zone is playing a role as an important support threshold for the market. If gold prices break this mark, the downward trend may expand in the near future. Conversely, maintaining above the support zone may help precious metals accumulate before forming a new upward momentum.

In the context of many uncertain factors, investors are recommended to continue to closely monitor signals from monetary policy and geopolitical developments, factors considered to be the main driving force dominating the current gold market.

Gold price data is compared to the previous day.

See more news related to gold prices HERE...

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