At the time of survey at 5:00 a.m. on March 30, 2024, the gold price today, March 30, on the trading floors of some companies is as follows:
Today's 9999 gold price is listed by DOJI at 78.80 million VND/tael for buying and 80.80 million VND/tael for selling.
At Mi Hong Gold and Gemstone Company, the price of Mi Hong gold at the time of survey listed the price of SJC gold at 79.40 - 80.60 million VND/tael (buy - sell).
SJC gold price at Bao Tin Minh Chau Company Limited is also traded by the enterprise at 78.85 - 80.75 million VND/tael (buy - sell). Meanwhile, at Bao Tin Manh Hai, it is being traded at 78.85 - 80.95 million VND/tael (buy - sell).
World gold price today March 30, 2024 and world gold price fluctuation chart in the past 24 hours
According to Kitco, the world gold price recorded at 5:00 a.m. today, Vietnam time, was at 2,233.48 USD/ounce. Today's gold price is 1.38 USD/ounce higher than yesterday's gold price. Converted according to the current exchange rate at Vietcombank, the world gold price is about 66.012 million VND/tael (excluding taxes and fees). Thus, the price of SJC gold bars is still 12.988 million VND/tael higher than the international gold price.
World gold prices in the closing trading session of the week today increased slightly. Besides, gold investors, at least can breathe a sigh of relief when inflationary pressure increased as expected.
The U.S. Commerce Department said Friday that its core personal consumption expenditures price index rose 0.3% last month. The increase was in line with economists' expectations.
However, in a sign that inflationary pressures are not abating, the report also recorded an upward revision in January, with core inflation rising 0.5%.
Over the past 12 months, consumer price pressures have continued to ease, rising 2.8% in February. Although inflation remains well above the Federal Reserve's 2% target, it continues to trend lower.
Headline inflation rose 0.3% last month, slightly less than expected, the report said. Economists were expecting a 0.4% increase. Headline inflation has risen 2.5% this year, in line with the consensus forecast.
Markets were closed on Good Friday, so there was no reaction to the latest inflation data. With inflation pressures rising as expected, investors may start to focus on the growing imbalance in the economy as consumers spent more than they earned last month.
Wages rose less than expected last month, up 0.3%, the report said. Economists had expected a 0.4% gain, according to the consensus forecast. Meanwhile, personal consumption expenditures rose 0.8% in February. Economists had forecast a 0.5% gain.
Some economists say the in-line inflation data could support the Fed’s plan to start its easing cycle in June, even as inflation remains elevated. Last week, the Fed also signaled it would cut interest rates three times this year, even as inflation is running at around 2.4%.
The impending pivot to the U.S. central bank’s aggressive monetary policy has encouraged gold investors in recent days. On Thursday, on the last trading day of March and the first quarter, June gold futures rose to a new all-time high of $2,256.90 an ounce and closed at $2,234.40 an ounce.
In an interview with Kitco News, Darin Newsom, Senior Market Analyst at Barchart, said that inflation could be a factor in why the gold market could defy fundamental and technical logic.
Gold's recovery on Thursday came despite the resilient strength of the US Dollar, which closed the session near a six-week high above 104 points.
“Gold can tell us that inflation is going to be here for a while. And that there is a real threat geopolitically,” he said.
Some analysts also note that gold doesn’t really need a rate cut to maintain its upward trajectory. While higher inflation may keep the Fed from cutting rates this year, it’s unlikely to raise rates. This environment would still push real interest rates lower, which would put pressure on the U.S. dollar, supporting gold prices.
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