Experts predict that the world gold price closing the trading week below 2,900 USD/ounce opens a deep downward trend for gold in March.
Gold prices have been falling continuously in recent days - Photo: THANH HIEP
Domestic gold prices remain high
World gold price ended the trading week at 2,858 USD/ounce, equivalent to a decrease of 130 USD/ounce in just three days.
In total, the world gold price fell 3% last week - the strongest since November 2024.
At the current price, converted according to the listed exchange rate at the bank, the world gold price is equivalent to 88.66 million VND/tael.
Domestically, the price of SJC gold bars remains unchanged at VND90.5 million/tael (selling price). The buying price is VND88.5 million/tael.
The price of 9999 gold rings decreased by 100,000 VND/tael, to 90.4 million VND/tael. The buying price is at 88.5 million VND/tael.
At PNJ Company, the selling price of 9999 gold rings decreased to 90.5 million VND/tael, while the buying price was at 89.8 million VND/tael.
Nowadays, many gold brands list the price of gold rings at the same price as gold bars. This was very difficult to happen before.
Bao Tin Minh Chau Company's 9999 gold ring price remains unchanged at 91.3 million VND/tael, purchase price at 90.1 million VND/tael.
At Mi Hong gold shop, the selling price of SJC gold bars is 91.4 million VND/tael, the buying price is 90.2 million VND/tael.
Will world gold price reach 2,700 USD/ounce?
According to expert Tran Duy Phuong, currently the hot news that reinforces the rising momentum of gold prices has lost its appeal.
"The market bought on the rumor and sold strongly on the news. Therefore, the world gold price closing the trading week at 2,858 USD/ounce opened a downward trend in gold prices in March.
Normally, after reaching its peak, gold prices often decline by at least 200 USD/ounce, so the possibility that the world gold price will fall to 2,750 USD/ounce is completely feasible," Mr. Phuong predicted.
According to analysts, profit-taking and a stronger dollar will have a strong impact on gold prices next week.
According to Kitco's survey results, 64% of respondents said gold prices will continue to decrease, 21% said gold prices will increase again, and the remaining 14% predicted gold prices will remain stable.
According to Main Street's online survey, 45% predict gold prices will go up, 28% predict gold prices will go down and the rest predict the precious metal will move sideways in the coming days.
Please follow the domestic gold price developments here.
Source: https://tuoitre.vn/gia-vang-duoc-du-bao-giam-trong-thang-3-20250302153116522.htm
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