Gold price on March 29: World and domestic prices continuously set new peaks

Illustration photo.

Opening today's trading session, both gold rings and gold bars of domestic brands continued to increase following the world's upward trend, simultaneously anchoring at a high level of over 100 million VND/tael.

Specifically, at 10:00 a.m. on March 29, Saigon Jewelry Company (SJC) listed the buying and selling price of SJC gold bars at VND98.4-100.7 million/tael, an increase of VND200,000 per tael for buying and VND500,000 per tael for selling compared to the previous session. The difference between buying and selling was VND2.3 million.

The price of SJC 9999 gold ring is 98.2 million VND/tael for buying and 100.4 million VND/tael for selling, an increase of 100 thousand VND/tael for both buying and 300 thousand VND/tael for selling compared to the previous session.

Meanwhile, DOJI gold bar prices in Hanoi and Ho Chi Minh City were bought at VND98.4 million/tael and sold at VND100.7 million/tael, unchanged from the previous session.

This brand listed the price of Doji Hung Thinh Vuong 9999 gold ring unchanged at the buying price and 500 thousand VND more expensive per tael at the selling price compared to yesterday's closing price, buying and selling transactions were 98.4-100.7 million VND/tael, respectively.

PNJ Gold listed buying price at 98.4 million VND/tael and selling price at 100.7 million VND/tael, an increase of 200 thousand VND per tael for buying price and 500 thousand VND per tael for selling price compared to the previous session.

As of 10:00 a.m. on March 29 (Vietnam time), the world gold price increased by 28.1 USD compared to the previous session to 3,084.7 USD/ounce.

Despite the soaring gold price, the precious metal continues to break previous records as investors continue to choose the precious metal as a safe haven.

The core personal consumption expenditures (PCE) index, which excludes energy and commodities, was reported by the US Commerce Department to have risen 0.4% last month, up from a 0.3% increase in January. This is the US Federal Reserve's preferred inflation measure. The data is unlikely to change much about expectations for a rate cut as it was only slightly higher than forecast.

Over the past 12 months, core inflation in the US has increased by 2.8%, 0.1 percentage point higher than the forecast annual increase of 2.7%.

The Fed left interest rates unchanged this year after three rate cuts through 2024. Markets are now pricing in the first rate cut of the year from the US central bank in July.

According to Dow Jones Newswires, US President Trump's increasingly widening trade war is pushing investors to seek refuge in gold, while strong buying power from central banks is also pushing gold prices higher.

President Donald Trump announced a 25% tariff effective April 2 on all cars imported into the US, a move that could escalate global trade tensions.

According to Capital Markets analyst Kyle Rodda, US trade policy, fiscal policy, geopolitics and slowing growth will support gold prices. He predicts that gold prices will soon reach the important milestone of $3,100/ounce.

Next week, the market will focus on Trump's official announcement on auto import tariffs on April 2, along with important economic data such as: ISM manufacturing PMI, JOLTS employment numbers and US non-farm payrolls.

The gap between financial investors and retail investors continues to be stark, according to a Kitco News survey. Of the 20 experts surveyed about gold prices next week, 85% expect gold prices to continue rising, while only 5% expect prices to fall. Meanwhile, 64% of retail investors believe gold prices will rise, but this percentage is not much different from last week.

According to Nhandan.vn

Source: https://baoquangngai.vn/kinh-te/202503/gia-vang-ngay-293-the-gioi-trong-nuoc-lien-tiep-lap-dinh-moi-587306b/