At the end of the trading week from March 17 to March 22, the price of SJC gold bars was listed by large enterprises at VND94.4-97.4 million/tael (buy - sell). Compared to the trading session on March 20, when this commodity reached its historical peak, each tael of gold decreased by VND3.7 million for buying and VND2.7 million for selling.
The price of plain gold rings at SJC ended this week listed at 94.3-97 million VND/tael (buy - sell). Compared to the peak previously set, the price has decreased by 4.1 million VND for buying and 3.3 million VND for selling.
Domestic price movements coincided with world prices. Entering the new trading week, international gold prices increased to nearly 3,000 USD/ounce and at one point reached a new record high of 3,057 USD/ounce. The price of this precious metal remained around the record mark in the following sessions before turning down in the last trading session of the week due to profit-taking pressure.
At the end of the week, gold price was anchored at 3,024.4 USD/ounce, up 38.9 USD compared to the closing price of the previous week.
The world gold market recorded strong price increases in most trading sessions this week. The fluctuations of this precious metal were mainly affected by concerns of increased instability due to US President Donald Trump's tariff policies, political developments in the Middle East and the US Federal Reserve's interest rate stance.
Currently, most experts believe that the potential for gold to rise remains. However, according to some analysts, the possibility of prices consolidating at current levels will determine the long-term uptrend of the market.
Gold strategist George Milling-Stanley of investment management firm State Street Global Advisors predicts gold prices will trade around $3,000 an ounce in the next few months.
Saxo Bank’s head of commodity strategy Ole Hansen said gold could fall without significantly disrupting the current bullish trend. He said the first major support level he was watching was $2,955 an ounce, which was also last month’s high.
In the same vein, senior market analyst David Morrison of trading house Trade Nation is also watching whether gold can hold the $3,000/ounce level.
Gold prices increased sharply last week (Photo: Hai Long).
Inflation concerns could keep gold in check, Commerzbank researchers said in a recent note. After keeping interest rates steady, the Fed updated its inflation expectations and forecast consumer prices to rise 2.8% this year, up from December’s estimate of 2.5%.
Some analysts warn that the precious metal can be sensitive to economic data, particularly higher inflation figures and weak economic activity, which suggest increased risks of stagflation.
The big data item next week is the core personal consumption expenditures index (which excludes volatile food and energy prices). Markets will also be interested in how the US consumer is holding up in a world of growing economic uncertainty.
Dantri.com.vn
Source: https://dantri.com.vn/kinh-doanh/du-bao-bat-ngo-ve-gia-vang-sau-khi-pha-dinh-lich-su-20250323003644017.htm
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