At 12 noon, Saigon Jewelry Company (SJC) listed the buying price of gold at 180 million VND/ounce; the selling price was 183 million VND/ounce, a decrease of 100,000 VND/ounce in both buying and selling prices compared to the closing price of the trading session on March 16th. The difference between the buying and selling price of SJC gold was 3 million VND/ounce.
At the same time, the price of gold at DOJI Group is listed at 179.6–182.6 million VND/ounce for buying and selling, a decrease of 500,000 VND/ounce in both buying and selling prices compared to the end of the trading session on March 16th. The difference between the buying and selling price of gold at DOJI is currently 3 million VND/ounce.
SJC listed gold ring prices at 179.7 – 182.7 million VND/ounce (buy – sell), down 100,000 VND/ounce in both directions compared to the previous session. Doji listed gold ring prices at 179.6 – 182.6 million VND/ounce, also down 500,000 VND/ounce in both buying and selling directions compared to the previous session. Phu Quy Gold Company listed SJC gold prices at 179.8 – 182.8 million VND/ounce (buy – sell), down 200,000 VND/ounce compared to the end of yesterday.
Silver prices also decreased. At 8:41 AM, Phu Quy Gold Company listed the price of silver bars at 3.040 – 3.134 million VND/ounce (buying price - selling price), a decrease of 76,000 VND/ounce in the buying price and 62,000 VND/ounce in the selling price compared to the end of yesterday.
Gold prices fell slightly.
Global gold prices edged lower during overnight trading on March 16 (Vietnam time) as concerns about rising inflation due to conflict in the Middle East potentially kept interest rates high for longer. This factor mitigated the positive impact of a weak US dollar and the demand for gold as a safe-haven asset.
At the close of trading, spot gold prices fell 0.5% to $4,993.42 per ounce, their lowest level in nearly a month. Gold futures for April 2026 delivery in the US also fell 1.2%, closing at $5,002.20.
Analyst Bob Haberkorn from RJO Futures argues that, with high inflation, central banks will be forced to maintain high interest rates for longer periods instead of cutting them as expected. Since gold doesn't yield monthly interest, high interest rates encourage investors to prioritize holding cash or other interest-bearing assets, putting downward pressure on the precious metal. However, he remains very optimistic about gold's prospects amidst global uncertainty.
He believes there is still a large amount of money outside the market and predicts that the price of gold could reach $6,000 per ounce. Gold is often considered a hedge against inflation and economic risks. However, when interest rates are high, this precious metal becomes less attractive because gold does not yield interest like many other assets.
This week, the market is also monitoring a series of key US economic data, including the Producer Price Index (PPI) data, the Federal Reserve's policy decision, a speech by Fed Chairman Jerome Powell, and weekly jobless claims figures.
Analysts predict the Fed will keep interest rates unchanged at its meeting on March 18-19. In the precious metals market, spot silver prices remained nearly unchanged at $80.52 per ounce. Meanwhile, platinum rose 3.9% to $2,103.42 per ounce and palladium increased 3.1% to $1,598.80 per ounce.
Source: https://vtv.vn/gia-vang-giam-nhe-100260317120446851.htm
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