Violent volatility, forecast to increase

(NLDO) – Gold prices today fell sharply from the peak of the week, but investors still expect prices to increase as world gold prices remain above the $3,000/ounce mark.

On March 23, the price of SJC gold bars listed by SJC, PNJ, and DOJI businesses was around 94.4 million VND/tael for buying and 97.4 million VND/tael for selling, an increase of 1.6 million VND/tael compared to the end of last week.

During the week, gold prices fluctuated violently when they reached a record peak, surpassing the 100 million VND/tael mark. The highest price of gold reached 100.4 million VND/tael before reversing and decreasing again. At the end of the week, gold prices lost nearly 3 million VND/tael, showing strong fluctuations in the market.

Not only gold bars, the price of gold rings and 99.99 gold jewelry of all kinds also had a week of strong fluctuations when reaching a peak of over 100 million VND/tael and then falling. At the end of the week, businesses listed the price of gold rings at around 94.3 million VND/tael for buying and 97 million VND/tael for selling, an increase of 1.2 million VND/tael compared to the end of last week.

Compared to the record peak, both SJC gold bar and gold ring prices have decreased by about 3-3.5 million VND/tael.

In the international market, the price of gold also increased sharply today, closing at 3,024 USD/ounce, up about 40 USD/ounce compared to the end of last week. The precious metal in the international market also witnessed a vibrant trading week when it climbed to 3,055 USD/ounce at one point, before falling back to 3,024 USD/ounce at the end of the week.

Gold price today stopped at around 97.4 million VND after a week of intense fluctuations.

Despite the continued rise in gold prices, both investors and analysts remain optimistic about the gold price trend next week, according to Kitco's survey results.

Specifically, in a survey on Wall Street, 18 analysts participated, of which 39% said gold prices would continue to increase, 28% predicted prices would decrease and the rest said gold prices would go sideways.

Similarly, in an online survey on Main Street, of the 372 experts who responded, 59% predicted gold prices would increase, 22% said prices would decrease, and the rest said gold prices would go sideways.

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Although the number of experts and investors expecting gold prices to increase is not as high as in previous weeks, the upward trend of the precious metal has not been broken. The price of gold fell sharply at the end of the week but still maintained above the $3,000/ounce mark – a record that experts and analysts predicted since the beginning of this year.

According to analysts, gold prices may move sideways, consolidating around the $3,000/ounce range before determining the next trend. In particular, next week, many important information about the US economy will be announced, helping to determine the health of the US economy, from which investors can make clearer moves on investment channels, including gold.

Currently, the world gold price converted according to the listed exchange rate is about 93.8 million VND/tael.

SJC gold bar price reached its highest level of over 100 million VND/tael last week.

Source: https://nld.com.vn/gia-vang-hom-nay-23-3-bien-dong-du-doi-du-bao-con-tang-196250323085946474.htm