On March 23, the price of SJC gold bars was listed by SJC, PNJ, and DOJI at around 94.4 million VND/ounce for buying and 97.4 million VND/ounce for selling, an increase of 1.6 million VND/ounce compared to the end of last week.
Gold prices plummet, many suffer heavy losses.
SJC gold bar and gold ring prices plummet, many suffer heavy losses.
During the week, gold prices fluctuated wildly, reaching a record high, surpassing the 100 million VND/ounce mark. The highest price reached 100.4 million VND/ounce before reversing and falling again. By the end of the week, gold prices had dropped by nearly 3 million VND/ounce, demonstrating the market's significant volatility.
Not only gold bars, but the prices of gold rings and 99.99% pure gold jewelry also experienced a volatile week, peaking above 100 million VND/ounce before falling. By the end of the week, businesses listed gold ring prices around 94.3 million VND/ounce for buying and 97 million VND/ounce for selling, an increase of 1.2 million VND/ounce compared to the end of the previous week.
Compared to their record highs, both SJC gold bar and gold ring prices have decreased by approximately 3-3.5 million VND per ounce.
On the international market, gold prices also rose sharply today, closing at $3,024 per ounce, up about $40 per ounce compared to the end of last week. The precious metal also witnessed a lively trading week on the international market, at one point climbing to $3,055 per ounce, before falling back to $3,024 per ounce by the end of the week.
Gold prices today settled around 97.4 million VND after a week of dramatic fluctuations.
Despite the continuous surge in gold prices, both investors and analysts remain optimistic about the trend of gold prices in the coming week, according to a Kitco survey.
Specifically, in a Wall Street survey involving 18 analysts, 39% predicted that gold prices would continue to rise, 28% predicted a decline, and the remainder believed prices would remain stable.
Similarly, in an online survey on Main Street, among the 372 experts who responded, 59% predicted that the price of gold would rise, 22% predicted it would fall, and the remainder believed it would remain stable.
Although the number of experts and investors expecting gold prices to rise is not as high as in previous weeks, the upward trend of the precious metal has not been broken. At the end of the week, gold prices plummeted but still remained above the $3,000/ounce mark – a record that experts and analysts had predicted earlier this year.
According to analysts, gold prices may trade sideways, consolidating around the $3,000/ounce mark before a clear trend emerges. In particular, next week will see the release of several important economic data points from the US, helping to determine the health of the US economy and allowing investors to make clearer decisions regarding investment channels, including gold.
Currently, the world gold price, converted using the listed exchange rate, is approximately 93.8 million VND per tael.
The price of SJC gold bars reached its highest point, surpassing 100 million VND per tael last week.
Source: https://nld.com.vn/gia-vang-hom-nay-23-3-bien-dong-du-doi-du-bao-con-tang-196250323085946474.htm
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