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 VND95.9-97.9 million/tael (buy - sell), an increase of VND1 million/tael for buying and VND500,000/tael for selling. The difference between buying and selling prices is at 2 million VND/tael.
At the same time, DOJI Group listed the price of SJC gold bars at VND95.9-97.9 million/tael (buy - sell), an increase of VND1 million/tael for buying and VND500,000/tael for selling. The difference between buying and selling prices is at 2 million VND/tael.
Meanwhile, Bao Tin Minh Chau listed the price of SJC gold bars at 96-97.9 million VND/tael (buy - sell), an increase of 700,000 VND/tael for buying and an increase of 300,000 VND/tael for selling. The difference between buying and selling prices is at 2.3 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 96.1-98.7 million VND/tael (buy - sell), an increase of 500,000 VND/tael for both buying and selling. The difference between buying and selling is listed at 2.6 million VND/tael.
Bao Tin Minh Chau listed the price of gold rings at 96.3-98.8 million VND/tael (buy - sell), an increase of 300,000 VND/tael for buying and an increase of 200,000 VND/tael for selling. The difference between buying and selling is 2.5 million VND/tael.
World gold price
At 9:05 a.m. on March 26, the world gold price listed on Kitco was around 3,024.9 USD/ounce, up 2.1 USD/ounce compared to the beginning of the trading session yesterday morning.
Gold price forecast
World gold prices remain high in the context of the USD not having many changes. Recorded at 9:15 a.m. on March 26, the US Dollar Index measuring the fluctuations of the greenback against 6 major currencies was at 103.890 points (up 0.06%).
According to Kitco, gold prices remained near high as consumer confidence continued to decline sharply, raising concerns that the US economy may be recessioning.
According to the Conference Board (a US nonprofit research organization that provides reports and analysis on economic issues, work, labor markets and long-term trends) on Tuesday, the US consumer confidence index fell to 92.9, down from the revised level of 100 in February.
The data was weaker than expected, as economists had predicted a more modest decline, down to just 94.2.
Company Generale (SocGen - a large multinational bank headquartered in France) has just announced a strategy for a multi-asset investment portfolio for the second quarter. The bank still holds 7% of its portfolio in gold and predicts that gold prices could reach $4,000/ounce.
SocGen pointed out that there are growing doubts about the special position of the United States, leading to a change in investment flows globally. In this situation, investors should keep gold as an important preventative asset.
At 7%, gold is still the largest commodity in SocGen's portfolio. Gold is still a strong upward asset in the context of US geopolitical reshaping, causing strong policy responses, said analysts.
Although gold prices are currently fluctuating above $3,000/ounce, SocGen expects gold prices to continue to increase. The French bank forecasts gold prices to average around $3,300/ounce in the fourth quarter.
Analysts said geopolitical uncertainty continues to support gold as an important global currency. They also pointed out conditions that could push gold prices to $4,000/ounce.
In the context of continued geopolitical uncertainty, the decline in dependence on the US dollar may continue, meaning that central banks around the world will continue to buy gold without interruption.
With the risk of a weaker US dollar leaning and central banks speeding up their dependence on the US dollar due to increased geopolitical uncertainty, we remain optimistic about gold," said analysts.
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