Gold price on March 31: Gold bars and gold rings continuously set new records

In the domestic market, this morning, following world price developments, gold prices increased sharply as soon as the session opened, simultaneously setting new peaks.

Specifically, at 9:00 a.m. on March 31, Saigon Jewelry Company (SJC) listed the buying and selling price of SJC gold bars at 99.2-101.5 million VND/tael, an increase of 800,000 VND/tael compared to the previous session.

The price of SJC 9999 gold ring closed the week at 98.8 million VND/tael for buying and 100.8 million VND/tael for selling.

DOJI gold bar price in Hanoi and Ho Chi Minh City is 99.2 million VND/tael for buying and 101.5 million VND/tael for selling, an increase of 800,000 VND/tael compared to the previous session.

This brand listed the buying and selling price of Doji Hung Thinh Vuong 9999 gold rings at the same price as gold bars at 99-101.5 million VND/tael, the highest ever.

PNJ Gold bought at 99.2 million VND/tael and sold at 101.2 million VND/tael, increasing by 800,000 million VND and 500,000 million VND/tael respectively.

As of 9:00 a.m. on March 31 (Vietnam time), the world gold price increased by 10.3 USD compared to the previous session to 3,095 USD/ounce.

The world gold price this morning continued its "galloping" increase of last week, approaching the 3,100 USD mark. The price of this precious metal continues to be strongly supported by investors' concerns about new tariffs from the US President Donald Trump's administration, inflation fears and rising geopolitical risks.

Chief market strategist at SIA Wealth Management Colin Cieszynski expressed optimism about gold prices this week as gold prices have rebounded once again and the price trend appears to remain technically strong amid global uncertainty.

Adrian Day, chairman of Adrian Day Asset Management, said: “Gold prices have rallied strongly and briefly breached the $3,000/ounce level. 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.

For his part, Adam Button, chief currency strategist at Forexlive.com, said that the new US-Mexico-Canada Agreement (USMCA) will ease global trade tensions and that will lead to a decline in gold, which will be a good buying opportunity.

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

In addition, 202 Main Street retail investors participated in Kitco News' online poll, of which 129 retail traders, or 64%, expect gold prices to rise; another 39, or 19%, see the precious metal trading lower; another 34, or 17%, see gold prices trading sideways.

This morning, the USD-Index slightly decreased to 103.85 points; the yield on 10-year US Treasury bonds decreased to 4.205%; US stocks sold off again; oil prices decreased slightly, trading at 72.47 USD/barrel for Brent oil and 69.05 USD/barrel for WTI oil.

Source: https://baotuyenquang.com.vn/gia-vang-ngay-31-3-vang-mieng-vang-nhan-lien-tiep-thiet-lap-ky-luc-moi-209258.html