SJC gold price today
Gold prices dropped sharply, the trading atmosphere at gold, silver and gemstone stores was no longer as bustling as last week.
As noted by Lao Dong reporter, at a number of gold, silver and gemstone stores in Hanoi City, the trading atmosphere is sparse. At some gold shops on Tran Nhan Tong street (Hai Ba Trung district), the number of customers coming to transact is not much. Many stores have no customers coming to transact.
Ms. Nguyen Thi Hien (34 years old, Thanh Xuan district), a gold buyer, shared: "Today, I came to buy gold to accumulate. Gold prices are decreasing slightly but it is difficult to predict whether they will increase or decrease next. I split my purchase into small amounts to avoid big losses."
Gold ring price 9999
Currently, the price of plain round gold rings listed by Bao Tin Minh Chau is at 67,88-69,08 million VND/tael (buy - sell). Compared to yesterday's closing session, the price of gold rings was adjusted by Bao Tin Minh Chau to decrease by 250.000 VND/tael for buying and 300.000 VND/tael for selling.
Meanwhile, Saigon Jewelry is listed at 67,25-68,55 million VND/tael for buying and selling. Compared to yesterday's closing session, the price of gold rings was adjusted by Saigon Jewelry to decrease 350.000 VND/tael for buying and 200.000 VND/tael for selling.
Phu Nhuan Jewelry (PNJ) is listed at 67,3-68,4 million VND/tael (buy - sell). Compared to yesterday's closing session, the price of gold rings was adjusted by PNJ to decrease by 400.000 VND/tael in both buying and selling directions.
World gold price
World gold prices increased sharply in the context of the USD index falling. Recorded at 19:18.3 p.m. on March 6, the US Dollar Index measuring the fluctuation of the greenback with 102,990 major currencies was at 0,08 points (up XNUMX%).
Gold price forecast
Many central banks are looking to buy gold, geopolitical tensions in some areas are still supporting precious metals. Central banks will take center stage next week, with interest rate decisions due from the Bank of Japan and the Reserve Bank of Australia on Monday, the US Federal Reserve (FED) on Wednesday and the Bank of England and Swiss National Bank on Thursday.
Markets will also pay attention to housing starts and building permits in the US on Tuesday, as well as weekly jobless claims, the Philly Fed manufacturing survey, Flash PMI and Existing home sales on Thursday.
Some analysts predict gold will rise even higher this year, but may decline in the short term.
Dow Jones Newswires - senior analyst Ipek Ozkardeskaya at Swissquote Bank said that China is increasing its gold purchases. Central banks in emerging markets are also diversifying their asset holdings beyond the dollar.
The physical demand for gold is also very large. China's retail demand recovered during the Lunar New Year, with government data showing gold and jewelry sales rose 24% during the holiday.
Meanwhile, the LBMA – an international trade association representing the bullion market – noted strong retail buying in Japan, as well as in India.