Domestic gold price
While the price of SJC gold increased, the price of gold rings today tended to decrease. As of 9:00 p.m., the price of plain round gold rings was listed by Phu Nhuan Jewelry (PNJ) at 67.90-69 million VND/tael (buy - sell). Compared to the closing price of yesterday's trading session, the price of gold rings was kept unchanged by PNJ.
Bao Tin Minh Chau listed the price at 68.38-69.68 million VND/tael (buy - sell). Compared to the opening of yesterday's trading session, Bao Tin Minh Chau adjusted the price of gold rings down 50,000 VND/tael for buying and down 150,000 VND/tael for selling.
Meanwhile, Saigon Jewelry listed the buying and selling prices at 67.8-69 million VND/tael. Compared to the closing price of yesterday morning's trading session, the ring gold price was adjusted by Saigon Jewelry to increase by 50,000 VND/tael for buying and decrease by 50,000 VND/tael for selling.
World gold price
World gold prices remained unchanged in the context of the USD index not changing much. Recorded at 9:00 p.m. on March 15, the US Dollar Index, which measures the greenback's fluctuations against 6 major currencies, was at 103.030 points (up 0.04%).
Gold Price Forecast
Gold prices rose slightly today as oil prices - a commodity closely related to the precious metal - rose in the afternoon session of March 14. Oil prices rose thanks to high demand in the US after gasoline reserves fell to a three-month low and crude oil reserves unexpectedly dropped.
Investors are awaiting data on retail sales, producer price index and unemployment claims due to be released on March 14 to gauge the health of the US economy and its impact on the prospects of the US Federal Reserve (FED) cutting interest rates.
Investors are pricing in a 67% chance of a Fed rate cut in June, down from 72% before the consumer price index data was released, according to LSEG.
Source
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