Losing up to 6 million dong/tael if buying gold at the peak
After rising to the highest level in the history of 74.4 million dong/tael sold, the domestic gold price has recently had consecutive declines, bringing the gold price to less than 70 million dong/tael. This morning, the domestic gold price continued to lose steam, trading around the threshold of 69 million VND/tael.
Specifically, at the opening trading day, the price of SJC gold was listed by Saigon Jewelry Company Limited in Hanoi at 67.3 – 69.02 million VND/tael (buy in – sell out). , down 400 thousand dong/tael in both buying and selling direction compared to yesterday’s closing.
Phu Quy Jewelry Joint Stock Company listed SJC gold price down 300 thousand dong/tael in the buying afternoon and 100,000 dong/tael in the selling afternoon compared to yesterday’s closing, at 66.7 – 68.7 million dong/tael (buy in – sell out).
Domestic gold price dropped rapidly from the peak of 74.4 million dong/tael last week. If buying at the peak and selling at the moment, people can lose up to 6 million dong/tael.
World gold price
In the international market, each ounce of world gold for immediate delivery at the close of the session on March 14 lost $38, down to $1,953 an ounce. The decline continued into this morning session, dragging the gold price down to $1,951 currently.
Gold prices in the international market continued to decline in the context of an exit from the Russia-Ukraine war and a violent increase in the dollar before the US Federal Reserve (Fed) raised interest rates.
Gold’s price fell because the commodity closely related to gold, oil, fell. In the afternoon session of March 14, Nymex crude oil price fell and traded around $102/barrel. At one point, the price of Nymex crude oil fell below 100 USD/barrel.
Forecasting the gold price in the coming time, the World Gold Council (WGC) believes that the demand for gold will continue to increase. In 2021, the world saw gold demand skyrocket to its highest level in nearly a decade.
A representative of Forbes & Manhattan predicts that the gold price cycle will continue to increase and gold may reach $4,000/ounce in the next 4-5 years, equivalent to about VND110 million/tael.
at Blogtuan.info – Source: cafebiz.vn – Read the original article here
