Gold price domestic
At noon on March 26, the price of SJC gold traded at Saigon Jewelry Company in Ho Chi Minh City was around 78.00 - 80.00 million VND/tael, down 40 thousand VND/tael for buying and down 40 thousand VND/tael for selling compared to yesterday's closing price. The difference between buying and selling is 2 million VND/tael.
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The price at Saigon Jewelry Company in Hanoi is around 78.00 - 80.02 million VND/tael, down 40 thousand VND/tael for buying and down 40 thousand VND/tael for selling compared to yesterday's closing price. The difference between buying and selling is 2 million VND/tael.
The price of SJC gold bars at Bao Tin Minh Chau Company is trading around 78.05 - 79.70 million VND/tael, up 50 thousand VND/tael for buying and down 50 thousand VND/tael for selling compared to the previous closing price.
At Phu Quy Group, the price of SJC gold bars is currently trading around 77.90 - 79.80 million VND/tael for buying and selling, down 50,000 VND/tael for buying and down 50,000 VND/tael for selling compared to yesterday.
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The price of SJC gold bars at Bao Tin Manh Hai Company is trading around 78.00 - 79.75 million VND/tael, down 150 thousand VND/tael for buying and down 200 thousand VND/tael for selling compared to the previous closing price.
Along with the tight trading situation, the price of 999.9 gold rings (24k), Thang Long gold dragon gold bars, and plain rings at Bao Tin Minh Chau Company traded at 68.62 - 69.82 million VND/tael for buying and selling, an increase of 30 thousand VND/tael for buying and an increase of 30 thousand VND/tael for selling compared to yesterday.
Thang Long 999.9 (24k) gold jewelry is trading around 68.00 - 69.50 million VND/tael, an increase of 50 million VND/tael for buying and 50 thousand VND/tael for selling compared to yesterday.
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| Gold price traded at Bao Tin Manh Hai |
Similarly, Thang Long Gold Dragon blister rings and Kim Gia Bao blister rings are being traded at Bao Tin Manh Hai Company at around 68.62 - 69.82 million VND/tael for buying and selling, an increase of 30 thousand VND/tael for buying and an increase of 30 thousand VND/tael for selling compared to yesterday's closing price.
The price of 999.9 gold is around 67.80 - 69.50 million VND/tael, an increase of 50 thousand VND/tael for buying and 50 thousand VND/tael for selling compared to yesterday's closing price. The price of 99.9 gold is currently around 67.70 - 69.40 million VND/tael, an increase of 50 thousand VND/tael for buying and 50 thousand VND/tael for selling compared to yesterday's closing price.
At Phu Quy Group, Phu Quy 999.9 round rings and Phu Quy 999.9 God of Wealth rings are trading around 68.45 - 69.70 VND/tael, an increase of 30 thousand VND/tael for buying and 30 thousand VND/tael for selling compared to yesterday.
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| Gold price traded at Phu Quy Group |
24K 999.9 gold is trading around 67.90 - 69.40 million VND/tael, up 30 thousand VND/tael for buying and up 30 thousand VND/tael for selling compared to yesterday.
World gold price
At the same time, the spot gold price in the Asian market decreased by 0.3 USD/oz compared to the closing price on Monday in the US, trading at 2,170 USD/oz - according to data from the Kitco exchange. This price is equivalent to about 65.2 million VND/tael if converted according to the USD selling rate at Vietcombank.
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| World gold price chart this afternoon |
Gold prices continued to be supported by investor expectations that the US Federal Reserve will cut interest rates three times this year. However, investors are waiting for a key inflation report due this week to determine when the Fed might start cutting interest rates.
The U.S. Commerce Department’s personal consumption expenditures (PCE) price index is scheduled for release Friday morning local time. Investors will react to this data point on Monday, as markets will be closed on Friday for the Good Friday holiday.
Gold could easily hit $2,300 an ounce or higher in the second quarter of this year, as retail investors and exchange-traded funds (ETFs) who have not yet actually bought gold jump into the market once interest rates are actually cut, according to TD Securities chief strategist Bart Melek. However, he also warned that if U.S. economic data strengthens, gold could be sold off.
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