Gold price today March 20, 3 turned down, reaching 2024 million VND/tael

Domestic gold price today September 20, 3

Late afternoon December 20, SJC's 9999 gold price decreased by 100 thousand VND/tael in both buying and selling, to 81,4 million VND/tael (sold).

The 9999 gold price was updated by Saigon Jewelry Company Limited (SJC) at 15:16 p.m. and the 9999 gold price was listed by DOJI Jewelry Group at 15:23 p.m. as follows:

SJC and DOJI gold price list updated late afternoon December 20   

Early afternoon 20/3, SJC's 9999 gold price decreased by 200 VND/tael in both buying and selling directions, to 81,5 million VND/tael (sold).

The 9999 gold price was updated by Saigon Jewelry Company Limited (SJC) at 13:30 p.m. and the 9999 gold price was listed by DOJI Jewelry Group at 13:43 p.m. as follows:

Gold price list SJC and DOJI updated early afternoon 20/3  

Early morning 20/3, SJC's 9999 gold price increased by 200 thousand VND/tael in both buying and selling directions compared to yesterday's closing session, reaching 81,7 million VND/tael (sold).

The 9999 gold price was updated by Saigon Jewelry Company Limited (SJC) at 8:26 p.m. and the 9999 gold price was listed by DOJI Jewelry Group at 8:29 p.m. as follows:

SJC and DOJI gold price list updated early in the morning of June 20                

At the end of the trading session on December 19, the domestic 3 gold price was listed by SJC and DOJI Jewelry Group in the order of buying and selling as follows:

SJC Hanoi: 79.500.000 VND/tael – 81.520.000 VND/tael
DOJI Hanoi: 79.400.000 VND/tael – 81.400.000 VND/tael
SJC HCMC: 79.500.000 VND/tael – 81.500.000 VND/tael 
DOJI Ho Chi Minh City: 79.400.000 VND/tael – 81.400.000 VND/tael

Central exchange rate on September 20, 3 announced by the State Bank at 23.999 VND/USD, an increase of 7 VND compared to the previous trading session. The USD price at commercial banks this morning (February 20) was listed at 3 VND/USD (buy) and 24.550 VND/USD (sell).

International gold price today September 20, 3

At 8:17 am today (July 20, Vietnam time), World gold spot price stands around 2.157,4 USD/ounce, up 0,4 USD/ounce compared to last night. Gold futures price for February 6 on the Comex New York floor is at 2024 USD/ounce. 

At 20:00 p.m. on March 19 (Vietnam time), today's spot gold price on the world market dropped to 3 USD/ounce. Gold delivered in June 2.157 on the Comex New York floor is at 6 USD/ounce.

The world gold price on the night of March 19 was about 3% (4,6 USD/ounce) higher than at the end of 94. World gold converted to bank dollars was priced at 2023 million VND/tael, including taxes and fees. fee, about 65,4 million dong/tael lower than the domestic gold price by the end of the afternoon session on March 16,1.

Gold prices in the world are declining and are moving towards the sensitive threshold of 2.150 USD/ounce and could plummet if this very strong support level is penetrated.

Domestically, SJC gold bars and gold rings also face policy risks in the next 10 days.

Previously, the State Bank (SBV) said that this agency would evaluate and make additional amendments to Decree 24 (2012) on gold market management in the first quarter and take measures to stabilize the gold market. this market.

With the difference with the world price still very large, up to 16 million VND/tael for SJC gold bars and about 4-5 million VND/tael for gold rings as currently, if the supply of SJC gold bars is improved, It is likely that domestic gold prices will fall further. 

Investors are currently quite cautious with gold, especially in the last 10 days of March. Recently, the pressure to take profits on this commodity is quite large.

Recently, Deputy Prime Minister Le Minh Khai requested the State Bank to preside over and coordinate with relevant agencies to urgently implement seriously, fully, effectively, and promptly the tasks and solutions to stabilize the gold market. delivered in dispatches and directives of the Prime Minister and official dispatches of the Government Office. 

At the same time, the Deputy Prime Minister assigned the State Bank of Vietnam to coordinate closely with relevant agencies to urgently carry out inspection, examination, control, and supervision closely, comprehensively, with focus and focus on gold market. Along with that, there is supervision and inspection of the activities of gold trading businesses, stores, gold bar trading and distribution agents and other entities participating in the market.

Since the end of last year, the Government has repeatedly requested the State Bank of Vietnam to take measures to manage the gold market to prevent gold bar prices from being too high compared to the world.

World gold, meanwhile, is under downward pressure after a long rally and is facing a two-day monetary policy meeting of the US Federal Reserve (Fed).

Gold price forecast

It is almost certain that the Fed will not reduce interest rates in the ongoing meeting. However, investors wait for statements from Fed Chairman Jerome Powell to find clues about US monetary policy.

Currently, the spot gold price is still above the threshold of 2.150 USD/ounce. This was the resistance level during the strongest price increase in December 12. 

However, precious metals were affected by information about home construction activities in the US skyrocketing 2% in February. This is a signal that the US economy is quite stable and the Fed may further delay the decision to cut interest rates.

The USD hanging at a high level will negatively affect gold.

The DXY index - measuring the fluctuations of the greenback compared to 6 major currencies - at the beginning of the trading session on March 19 on the US market (night of March 3, Vietnam time) increased sharply, to 19 points. .