Gold prices rise as the US dollar weakens

Domestic gold price today

Early afternoon of March 6 , SJC 9999 gold price remained unchanged compared to the morning.

Specifically, the price of 9999 gold was updated by Saigon Jewelry Company Limited (SJC) at 14:23 and the price of 9999 gold was listed by Doji Jewelry Group at 14:17 as follows:

	Buy	Sell
SJC Hanoi	66,150,000 VND/tael	66,870,000 VND/tael
SJC HCMC	66,150,000 VND/tael	66,850,000 VND/tael
SJC Danang	66,150,000 VND/tael	66,870,000 VND/tael
Doji Hanoi	66,150,000 VND/tael	66,800,000 VND/tael
Doji HCMC	66,200,000 VND/tael	66,800,000 VND/tael

SJC and DOJI gold price list updated early afternoon 6/3

Opening the market on March 6 , today's SJC 9999 gold price decreased by 50 thousand VND/tael in both buying and selling compared to the end of the trading session last weekend.

The price of 9999 gold was updated by Saigon Jewelry Company Limited (SJC) at 8:15 a.m. and the price of 9999 gold was listed by Doji Jewelry Group at 8:28 a.m. as follows:

	Buy	Sell
SJC Hanoi	66,150,000 VND/tael	66,870,000 VND/tael
SJC HCMC	66,150,000 VND/tael	66,850,000 VND/tael
SJC Danang	66,150,000 VND/tael	66,870,000 VND/tael
Doji Hanoi	66,150,000 VND/tael	66,800,000 VND/tael
Doji HCMC	66,200,000 VND/tael	66,800,000 VND/tael

SJC and DOJI gold price list updated early morning 6/3

SJC gold price chart from February 27 to March 6

At the end of the trading session on March 4, the price of 9999 gold bars at SJC Ho Chi Minh City was 66.2 million VND/tael (buy) - 66.9 million VND/tael (sell). SJC Hanoi listed at 66.2 million VND/tael (buy) and 66.92 million VND/tael (sell).

Doji Hanoi listed at 66.15 million VND/tael (buy) and 66.8 million VND/tael (sell). Doji Ho Chi Minh City bought SJC gold at 66.2 million VND/tael and sold at 66.9 million VND/tael.

The central exchange rate on March 6 announced by the State Bank was 23,636 VND/USD, down 1 VND compared to last weekend. The USD price at commercial banks this morning (March 6) was traded around 23,530 VND/USD (buy) and 23,900 VND/USD (sell).

*World gold prices are forecast to increase in the coming time. (Photo: HH)*

International gold price today

At 9:13 a.m. today (March 6, Vietnam time ), the world spot gold price stood at around 1,851.2 USD/ounce, down 4.8 USD/ounce compared to last night. The gold futures price for April delivery on the Comex New York floor was at 1,858.5 USD/ounce, up 1.5 USD/ounce compared to last night.

On the morning of March 6 , world gold converted to USD bank price was nearly 53.34 million VND/tael (excluding tax and fees), about 13.53 million VND/tael lower than domestic gold price.

Fluctuations in international gold prices in the past 24 hours.

In the world gold market, spot gold price is trading at 1,856 USD/ounce. Gold futures price is trading at 1,857 USD/ounce.

After closing the session last weekend, gold prices rose for the first time after 5 consecutive weeks of decline, surpassing the resistance level of 1,850 USD/ounce, creating the biggest optimism in many months for investors. Currently, both retail investors and Wall Street analysts are expecting gold prices to be higher next week.

Ole Hansen, head of commodity strategy at Saxo Bank, said gold prices rose sharply amid continued increases in US bond yields. Last week, the US 10-year bond yield rose 4%, reaching its highest level since November 2022. At the same time, the US 2-year bond yield rose to nearly 5%.

However, Hansen said investors should note that inflation remains a significant concern. He noted that gold can still perform well even if bond yields and inflation both push higher. Moreover, gold prices need to surpass $1,885 an ounce, or even $1,900 an ounce, to really attract investors.

Regarding technical analysis, Darin Newsom, senior technical analyst at Barchart.com, said he also sees gold prices having more upside momentum next week as the US dollar is showing signs of weakness.

Marc Chandler, managing director at Bannockburn Global Forex, once viewed gold’s drop to $1,800 an ounce as a buying opportunity, but that opportunity is gone as he sees gold prices rising next week.

Gold Price Forecast

Nineteen Wall Street analysts participated in the Kitco News gold survey last week. Of those surveyed, 13, or 68%, were bullish on gold prices in the coming week. Only one analyst, or 5%, said prices would fall next week, while five analysts, or 26%, said they expected prices to trade sideways.

Meanwhile, 495 votes were cast in online polls, of which 254 respondents, or 51%, expect gold to rise next week.

145 people, or 29%, think prices will fall, while 96 people, or 19%, think gold prices will stay the same.

Gold price today March 5: Gloomy trading World gold prices increased at the end of the week, ending a series of weekly declines. Domestic gold prices fluctuated little, unable to regain the 67 million VND/tael mark.

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