Gold price today 22. 3: Heavy loss of 14.6 million VND/tael after a week

SJC gold bar price

Closing the week's trading session, Saigon SJC Jewelry Company listed SJC gold prices at 168-171 million VND/tael (buying - selling). The buying - selling difference is at 3 million VND/tael.

Compared to the closing session of last week's trading (March 15), the price of SJC gold bars at Saigon SJC Jewelry Company decreased by 11.6 million VND/tael in both directions.

Meanwhile, DOJI listed SJC gold price at the threshold of 168-171 million VND/tael (buying - selling). The buying - selling difference is at 3 million VND/tael.

Compared to the closing session of last week (March 15), the price of SJC gold bars at DOJI decreased by 11.6 million VND/tael in both directions.

If buying SJC gold bars on March 15 and selling them on today's session (March 22), buyers at Saigon SJC and DOJI Jewelry Company will lose 14.6 million VND/tael.

9999 gold ring price

At the same time, DOJI Group listed the price of gold rings at the threshold of 168.1-171.1 million VND/tael (buying - selling), down 11.5 million VND/tael in both directions compared to a week ago. The buying - selling difference is at 3 million VND/tael.

Phu Quy Jewelry Group listed the price of gold rings at 168-171 million VND/tael (buying - selling), down 11.5 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 March 15 and selling them on today's session (March 22), buyers at DOJI and Phu Quy will both lose 14.5 million VND/tael.

World gold price

Closing the weekly trading session, world gold prices were listed at 4,490.2 USD/ounce, down 527.5 USD compared to a week ago. Thus, after only two weeks, gold prices have decreased by 681.8 USD/ounce.

Gold price forecast

After a week of strong fluctuations, the gold market is facing a lot of short-term pressure as investor sentiment has become significantly more cautious. The latest survey by Kitco News shows that a pessimistic trend is prevailing on Wall Street, as most experts believe gold prices may continue to adjust.

Among the 18 analysts participating in the survey, up to 67% predict that gold prices will decrease next week, while only 17% expect prices to increase again. The rest believe that the market may move sideways. In the group of individual investors, psychology has also changed negatively after a series of deep declines, although there is still a certain differentiation.

This development reflects pressure from many macroeconomic factors. The fact that major central banks, especially the US Federal Reserve (Fed), maintain a cautious stance in monetary policy management is causing gold to lose some of its attractiveness. Maintaining high interest rates along with the strengthening USD creates significant resistance for precious metals.

Mr. Adrian Day - Chairman of Adrian Day Asset Management - said that gold prices may continue to weaken in the short term, but emphasized that this trend is not long-term. According to him, the Fed's postponement of policy easing is mainly temporary, in the context of the US economy showing signs of stagnation. When growth pressure increases, the possibility of monetary easing may return, thereby supporting gold prices in the medium and long term.

From a technical perspective, the fact that gold prices continuously break important support levels is triggering a sell-off wave in the market. Mr. Marc Chandler - Managing Director of Bannockburn Global Forex - said that if support levels continue to be broken, gold prices may fall even deeper in the near future.

Next week, in the context of a lack of important economic information, the market is likely to focus on geopolitical factors, especially developments in the Middle East, along with some data such as the preliminary PMI index of the US and the number of jobless claims.

Although short-term prospects are still risky, many experts still maintain a positive view on gold in the long term, as fundamental factors such as economic instability and loose monetary policy are expected to return.