Gold price today March 29 continues to increase strongly, approaching 101 million VND/tael

Gold prices today March 29 increased sharply.

Opening the morning session, the price of gold rings traded at Bao Tin Minh Chau was at 98.9 - 100.9 million VND/tael (buy - sell), an increase of 300,000 VND/tael in both buying and selling directions compared to the closing price yesterday.

Meanwhile, at DOJI Gold and Gemstone Group Joint Stock Company, plain round rings are traded at around VND98.4 - 100.7 million/tael (buy - sell). At Phu Quy Gold Investment Joint Stock Company, gold rings are traded at VND98.7 - 100.7 million/tael (buy - sell).

At Saigon Jewelry Company Limited, SJC listed the price of SJC gold bars at 98.4 - 100.7 million VND/tael (buy - sell), an increase of 200,000 VND/tael for buying, and an increase of 500,000 VND/tael for selling compared to the closing price yesterday.

The difference between buying and selling prices of domestic gold rings is quite high, over 2 million VND/tael, pushing the risk of short-term losses to gold buyers.

Domestic gold prices today increased sharply following the increase in world gold prices. On the morning of March 28 (Vietnam time), world gold prices were trading at 3,086 USD/ounce. If converted according to Vietcombank exchange rate, each tael of world gold costs about 95.9 million VND/tael.

Today, domestic gold price is still about 5 million VND/tael higher than world gold price.

According to banking and finance experts, domestic gold prices are closely following the movements of world gold prices. Gold prices continue to rise and reach new records as investors flock to safe-haven assets amid concerns about a global trade war due to new tariff policies of US President Donald Trump.

Meanwhile, data released yesterday (March 28) in the US for personal consumption expenditures showed that inflation increased more than expected. Accordingly, the personal consumption expenditures price index increased 0.4% in February, similar to the increase in January. However, experts said that this data is unlikely to change expectations for an interest rate cut because it was only slightly higher than expected.

The US Federal Reserve (Fed) left interest rates unchanged this year after three rate cuts by 2024, but also hinted at a possible half-percentage-point rate cut later in the year. The market is now expecting the Fed to make its first rate cut of the year in July, boosting gold prices.

Financial experts note that domestic gold buyers at this time need to closely monitor the market before deciding to buy, because the current buying-selling gap is high, pushing risks to the gold buyer. In addition, when the demand for gold increases and the quantity sold is limited, there will be fraud and fake gold sales for profit.

According to baotintuc.vn

Source: https://baodanang.vn/kinhte/202503/gia-vang-hom-nay-29-3-tiep-da-tang-manh-tien-sat-101-trieu-dongluong-4002846/