Updated SJC gold price
As of 9:00 a.m., the price of SJC gold bars was listed by Saigon Jewelry Company Limited - SJC at VND95.4-96.9 million/tael (buy - sell), an increase of VND600,000/tael for buying and VND800,000/tael for selling. The difference between buying and selling prices is at 1.5 million VND/tael.
At the same time, DOJI Group listed the price of SJC gold bars at VND95.4-96.9 million/tael (buy - sell), an increase of VND600,000/tael for buying and an increase of VND800,000/tael for selling. The difference between buying and selling prices is at 1.5 million VND/tael.
Meanwhile, Bao Tin Minh Chau listed the price of SJC gold bars at VND95.4-96.9 million/tael (buy - sell), an increase of VND600,000/tael for buying and an increase of VND800,000/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 VND95.9-97.4 million/tael (buy - sell), an increase of VND700,000/tael for buying and an increase of VND800,000/tael for selling. The difference between buying and selling is listed at 1.5 million VND/tael.
Bao Tin Minh Chau listed the price of gold rings at 95.9-97.5 million VND/tael (buy - sell); increased by 700,000 VND/tael for both buying and selling. The difference between buying and selling is 1.6 million VND/tael.
World gold price
This morning, the world gold price listed on Kitco was around the all-time high of 3,009.9 USD/ounce.
Gold price forecast
World gold prices increased despite the USD also showing an upward trend. Recorded at 9:00 a.m. on March 18, the US Dollar Index measuring the fluctuations of the greenback against 6 major currencies was at 103.130 points (up 0.09%).
Precious metals analysts at Heraeus (a German technology and precious metals corporation) believe that the stock market is plummeting and the growing fear of recession is boosting demand for gold.
In the latest report, analysts at Heraeus said that risk-off sentiment in the market is strengthening the appeal of gold as a safe-haven asset.
Concerns about the risk of recession in the US are returning to the center, as the stock market shows signs of weakening. The S&P 500 index has now fallen 2% since November 5, 2024, when Donald Trump was re-elected President of the United States.
On March 7, hedge funds withdrew capital from individual stocks at the same scale as in March 2020, reflecting a strong risk-off trend" - the report wrote.
Jim Wyckoff - senior analyst at Kitco commented that safe-haven demand continues to be high due to concerns about the risk of global trade war, along with signals from optimistic technical charts and expectations of looser monetary policy from the US Federal Reserve (FED), helping to keep precious metal prices stable.
The focus of this week's market is the Federal Open Market Committee (FOMC) meeting, which began on Tuesday morning and ended on Wednesday afternoon with an official announcement and a press conference by Fed Chairman Jerome Powell.
Investors do not expect the Fed to change interest rates at this meeting but will closely monitor every word in the FOMC statement as well as Mr. Powell's statement.
Important economic data for the week
Tuesday: Housing under construction and construction permits in the US, monetary policy decision of the Bank of Japan.
Wednesday: Fed monetary policy decision.
Thursday: Swiss National Bank and Bank of England monetary policy decision, weekly jobless claims in the US, Philly FED manufacturing survey, existing home sales in the US.
See more news related to gold prices HERE...
