|Gold price today 23/3 continued to fall, trading was around the threshold of 1,920 USD/ounce. (Source: Kitco)|
WOODgold price today March 23:
SJC gold price fluctuated in opposite directions, increasing and decreasing inconsistently among business systems across the country at the end of the session yesterday, March 22. While, both Doji and Phu Quy groups increased the price of SJC gold by 100,000 dong/tael in the buying side, and the selling side increasing by 100,000 dong/tael and 50,000 dong/tael, respectively; At VBDQ Saigon Company, gold price was adjusted down by 100,000 VND/tael in both buying and selling afternoon compared to the morning opening session.
At PNJ and Bao Tin Minh Chau systems, SJC gold price simultaneously slowed down in the buying afternoon, but the selling direction was adjusted down by 50,000 VND/tael and 40,000 VND/tael, respectively, compared to the opening session in the morning of 22/tael. 3.
The selling price of 9999 gold rings and anchor jewelry is quite stable around 56 million VND/tael, buying in is 55 million VND/tael. The selling price of 9999 gold ring is currently lower than the price of SJC gold about 12.5 million VND/tael.
Thus, after a period of feverish prices and bustling transactions, the gold market in recent days has returned to a quiet state, with a decrease in transactions compared to the previous days. The market went up and down more erratically than the world market, at times higher than the world gold price by more than 4 million dong/tael, the difference between buying and selling sometimes reached nearly 2 million dong/tael.
According to experts, the gold price difference of 300-500 thousand dong is reasonable, and exceeding it is very risky for small investors and at this time the only beneficiaries are large gold trading companies. Of course, the difference in buying and selling sometimes also depends on people’s needs. When the buying demand is too great, it will push the selling price of gold up and when the selling demand of the people is high, it will push the buying price down. Traders will be in the middle of controlling the spread of the market, so that there is as little risk to them as possible. Therefore, investors need to be very alert when investing in gold at a time when the price of gold fluctuates up and down like today.
However, until now, gold is still considered as a leading safe investment channel in the context of financial market instability, geopolitical situation and unpredictable epidemics.
At the end of the session yesterday (March 22), SJC gold price traded at a number of large business units as follows:
VBDQ Saigon Company listed the price of SJC gold in 67.85 – 68.77 million VND/tael.
Doji Group currently lists the price of gold at: 67.80 – 68.80 million VND/tael.
Phu Quy Group is listed at: 67.80 – 68.75 million VND/tael.
PNJ system listed at: 67.80 – 68.75 million VND/tael.
SJC gold price at Bao Tin Minh Chau is listed at: 67.82 – 68.75 million dong/tael. According to the general trend of the precious metal market, other products of this brand have all been adjusted, the price of gold is 999.9, the Dragon Thang Long gold brand is trading at 55.31 – 56.16 million VND/tael. Gold jewelry price traded at 54.50 – 56.00 million VND/tael.
Developments world gold price Latest
Gold prices fell in the afternoon session (March 22) when US government bond yields reached their highest levels in many years, following the Federal Reserve’s tough policy stance to control inflation. ) is made public. The statement of tough action on inflation – which Fed Chairman Jerome Powell says is hurting the economic recovery – comes less than a week after the Fed raised interest rates for the first time. for more than 3 years – has had a strong impact on gold prices.
Especially when the Fed insists that the rate hike will continue until inflation is under control and the increase can be stronger. Yesterday, there was a time when the gold price fell to close to the level of 1,920 USD/ounce before recovering slightly.
Notes of TG&VN At 4:30 a.m. on March 23, the world gold price closed trading on the Kitco floor at $1,921.7 per ounce, continuing to prolong the price drop in recent days, down $14.3 compared to the previous session. . Gold futures for April fell $3.90 to $1,925.40.
In the market, US stock indexes are heading towards a more stable opening. However, the recent Russia-Ukraine conflict situation has not changed much, so the risk aversion in the market is still high. US President Biden on Thursday met with NATO and EU leaders to discuss Russia’s invasion of Ukraine. The two-day summit will be held at NATO headquarters in Brussels.
OANDA Senior Analyst, Jeffrey Halleysaid there were no new factors to affect prices in Asia today, leaving gold stuck between higher US yields and increased risk aversion.
The US 10-year yield jumped above 2.3% for the first time since May 2019, while the spread between 2- and 10-year yields – a tracked metric closely, continues to shrink, a potential sign of an economic downturn. Sharp moves in the U.S. bond market increasingly suggest a looming recession, with markets casting doubt on the Fed’s plan to provide a soft landing for the economy as the country picks up interest rates to fight inflation.
Higher yields and interest rates tend to increase the opportunity cost of holding non-yielding assets like gold. However, the tension has not cooled down in Ukraine has helped restrain the decline in gold prices.
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