Gold price today, March 17: Gold bars, gold rings increase

Phan Anh (Theo Kitco) |

Gold price today, March 17: Rising in the domestic market. The world market maintained its upward momentum on a high price base.

Updated SJC gold price

As of 9:20 a.m., the price of SJC gold bars was listed by Saigon Jewelry Company Limited - SJC at VND94.8-96.1 million/tael (buy - sell), an increase of VND500,000/tael for buying and VND300,000/tael for selling. The difference between buying and selling prices is at 1.3 million VND/tael.

At the same time, the price of SJC gold bars was listed by DOJI Group at VND94.8-96.1 million/tael (buy - sell), an increase of VND500,000/tael for buying and an increase of VND300,000/tael for selling. The difference between buying and selling prices is at 1.3 million VND/tael.

Dien bien gia vang mieng SJC nhung phien giao dich gan day. Bieu do: Phan Anh
SJC gold bar price movements in recent trading sessions. Chart: Phan Anh

Meanwhile, Bao Tin Minh Chau listed the price of SJC gold bars at VND94.8-96.1 million/tael (buy - sell), an increase of VND400,000/tael for buying and an increase of VND300,000/tael for selling. The difference between buying and selling prices is at 1.3 million VND/tael.

9999 round gold ring price

As of 9:00 a.m. today, the price of Hung Thinh Vuong 9999 round gold rings at DOJI was listed at VND95.2-96.6 million/tael (buy in - sell out); increased by VND300,000/tael for both buying and selling. The difference between buying and selling is listed at 1.4 million VND/tael.

Dien bien gia vang nhan nhung phien giao dich gan day.
Gold ring price developments in recent trading sessions. Chart: Phan Anh

Bao Tin Minh Chau listed the price of gold rings at 95.2-96.8 million VND/tael (buy - sell); increased by 250,000 VND/tael for buying and increased by 300,000 VND/tael for selling. The difference between buying and selling is 1.6 million VND/tael.

World gold price

As of 9:25 a.m. on March 17, the world gold price listed on Kitco was at 2,988.6 USD/ounce, up slightly compared to the same time in the previous session.

Dien bien gia vang the gioi nhung phien giao dich gan day. Bieu do: Phan Anh
World gold price developments in recent trading sessions. Chart: Phan Anh

Gold price forecast

World gold prices increased on a high basis in the context of the USD decreasing. Recorded at 9:30 a.m. on March 17, the US Dollar Index measuring the fluctuations of the greenback against 6 major currencies was at 103.710 points (down 0.02%).

15 analysts participated in the Kitco News gold survey. Nine experts, or 60%, predict gold prices will continue to rise this week. Three analysts, or 20%, predict gold prices will fall. The remaining three experts see gold prices moving sideways.

Meanwhile, 262 people participated in Kitco's online survey, with investor sentiment almost unchanged from last week.

175 retail traders, or 67%, expect gold prices to surpass $3,000 this week. Meanwhile, another 47 people, or 18%, predict gold prices will fall. The remaining 40 investors, accounting for 15% of the total, predict gold prices will move sideways in the coming days.

Khao sat hang tuan ve vang cua Kitco cho thay tam ly tang gia cua cac chuyen gia nganh va cac nha giao dich ban le van rat manh mac du gia dang o muc chua tung co. Bieu do: Phan Anh
Kitco's weekly gold survey shows that the bullish sentiment of industry experts and retail traders is still very strong even though prices are at unprecedented levels. Chart: Phan Anh

Adrian Day - Chairman of Adrian Day Asset Management - predicted that gold prices will continue to increase and surpass the $3,000/ounce mark. He said that central banks continue to buy strongly, especially foreign banks, which are not affected by the price of 3,000 USD/ounce.

North American investors are also returning to the gold market after a two-year absence, creating new demand.

Darin Newsom - senior analyst at Barchart.com - commented that both technical and basic analysis are no longer important at this time. He said that gold is still a safe haven in the context of strong global economic and political fluctuations.

Sharing the same view, Sean Lusk - co-head of commercial risk prevention at Walsh Trading - said that gold prices are being driven by economic and political events. He said that central banks continue to increase their gold holdings whenever prices have a correction.

We have seen a strong rally from 2023 to present, thanks to the prolonged uncertainty that has benefited gold over the past three years, Lusk said.

He also noted that the next potential prices could be $3,036/ounce and $3,168/ounce.

Kevin Grady - President of Phoenix Futures and Options - said that the $3,000/ounce mark is an important psychological threshold, but the most important thing is who is buying and who is selling.

He found that central banks such as Poland, Turkey and China have all increased their gold reserves. I think youll see prices around $3,000 an ounce for a while, but the general trend is still up, Grady said.

On the other hand, Rich Checkan, president and COO at Asset Strategies International, said that after reaching $3,000 an ounce, gold could face a profit-taking before continuing to increase again.

James Stanley - senior strategist at Forex.com - said that the $3,000/ounce mark will create selling pressure, allowing gold prices to adjust slightly instead of completely reversing.

See more news related to gold prices HERE...

Phan Anh (Theo Kitco)
TIN LIÊN QUAN

Factors driving gold prices next week

|

Some experts believe that gold prices may continue to increase in the short term. Next week, the market will receive a series of important economic data.

Gold price increases sharply, breaking all-time peak

|

Gold prices today have surpassed the psychological mark of 3,000 USD/ounce, the uptrend has not stopped.

World gold prices increase as US CPI cools down

|

Gold prices continued to rise, reaching a two-week high two weeks before new economic data from the US.

Rampant ornamental stone mining leaves Yen Bai’s mountains scarred

|

Yen Bai - Illegal exploitation of ornamental stones is happening everywhere, despite reminders and penalties from authorities.

Investors respond to the Kim Van - Kim Lu connection road

|

Lao Dong Newspaper has just published a series of articles, Kim Van - Kim Lu people hope for a connecting road. The investor has responded in writing.

Announcing the decision to approve the Deputy Secretary of Nghe An Provincial Party Committee

|

Nghe An - Ms. Vo Thi Minh Sinh - Chairwoman of the Provincial Fatherland Front Committee holds the position of Deputy Secretary of the Provincial Party Committee.

Gold ring price may reach 100 million VND/tael

|

The domestic gold ring price is increasing sharply. Experts predict that the price of gold rings may reach 100 million VND/tael in the near future.

A major fire collapsed part of a factory in Ho Chi Minh City

|

HCMC - On March 17, HCMC Police are investigating and clarifying the cause of the fire at an iron workshop in Hoc Mon district that caused many workers to flee.

Factors driving gold prices next week

Phan Anh (Theo Kitco) |

Some experts believe that gold prices may continue to increase in the short term. Next week, the market will receive a series of important economic data.

Gold price increases sharply, breaking all-time peak

Phan Anh (Theo Reuters) |

Gold prices today have surpassed the psychological mark of 3,000 USD/ounce, the uptrend has not stopped.

World gold prices increase as US CPI cools down

Phan Anh (Theo Kitco) |

Gold prices continued to rise, reaching a two-week high two weeks before new economic data from the US.