Gold price on March 30: Anchored at new record level, experts predict continued increase

In the domestic market, last week, gold prices increased continuously, setting new peaks following world price movements. At the end of the week, the new historical mark of domestic gold prices was recorded at 100.7 million VND/tael, approaching 101 million VND/tael.

Specifically, at 7:30 a.m. on March 30, Saigon Jewelry Company (SJC) listed the buying and selling price of SJC gold bars at 98.4-100.7 million VND/tael.

The price of SJC 9999 gold ring closed the week at 98.2 million VND/tael for buying and 100.4 million VND/tael for selling.

DOJI gold bar price in Hanoi and Ho Chi Minh City is bought at 98.4 million VND/tael and sold at 100.7 million VND/tael.

This brand listed the buying and selling price of Doji Hung Thinh Vuong 9999 gold rings at the same price as gold bars at 98.4-100.7 million VND/tael.

PNJ gold buys at 98.4 million VND/tael and sells at 100.7 million VND/tael.

As of 7:30 a.m. on March 30 (Vietnam time), the world gold price increased by 28.1 USD compared to the previous session's close to 3,084.7 USD/ounce.

World gold prices skyrocketed to new record levels last week. The precious metal continued to be strongly supported by investors’ concerns about new tariffs from the Trump administration, inflation fears, and rising geopolitical risks.

The latest Kitco News weekly gold survey shows that professionals are very bullish on gold's potential, while retail traders are slightly less bullish on gold prices for the week ahead.

Colin Cieszynski, chief market strategist at SIA Wealth Management, said he is bullish on gold next week as prices have rebounded once again and look technically strong amid global uncertainty.

“However, there is still the potential for significant volatility next week, especially around April 2, depending on whether President Trump follows through on his tariff threat,” he added.

Adrian Day, Chairman of Adrian Day Asset Management, commented: Gold prices have rallied strongly and briefly broke the $3,000/ounce threshold. The reasons to buy gold remain intact while there is still a lot of buying potential, from central banks, Chinese consumers to North American investors who are still actively accumulating capital in this safe-haven asset.

The fact that gold prices easily surpassed $3,000 an ounce after the recent profit-taking shows the strength of the precious metal, said Rich Checkan, chairman and CEO of Asset Strategies International. He said that gold prices will continue to rise next week.

Sharing the same view, John Weyer, director of commercial hedging at Walsh Trading, sees gold prices having the potential to rise significantly next week as concerns about tariffs and inflation combine to scare investors and send them to safe havens.

One of the few experts who believes gold prices will fall, Adam Button, chief currency strategist at Forexlive.com, said the new USMCA trade deal will ease global trade tensions and that will lead to a decline in gold. “And this is a good buying opportunity,” he recommended.

This week, 20 Wall Street analysts participated in the Kitco News Gold Survey. Seventeen, or 85%, see gold prices rising next week, while just one analyst, or 5%, sees prices falling. The remaining two, or 10%, see prices moving sideways.

Meanwhile, 202 Main Street retail investors participated in Kitco News’ online survey. Sentiment on Main Street improved only slightly from last week. 129 retail traders, or 64%, expect gold prices to go higher next week, while another 39, or 19%, see the precious metal trading lower. The remaining 34, or 17%, are neutral.

This morning, the USD-Index slightly decreased to 104.04 points; the yield on 10-year US Treasury bonds decreased to 4.251%; US stocks sold off due to hot inflation; oil prices decreased slightly, trading at 72.76 USD/barrel for Brent oil and 69.36 USD/barrel for WTI oil.

NDO

Source: https://baothanhhoa.vn/gia-vang-ngay-30-3-neo-o-muc-ky-luc-moi-chuyen-gia-du-bao-tiep-tuc-tang-243981.htm