Gold price soars again

At 8:36 a.m., DOJI Jewelry Group Joint Stock Company listed SJC gold price in Hanoi market at 67.7 – 68.7 million dong/tael (buy-in-sell), an increase of 200 thousand dong/tael in the buying and selling afternoons compared to yesterday’s closing.

At Phu Quy Jewelry Company, the price of SJC gold increased by 70 thousand dong/tael in the buying afternoon and 100,000 dong/tael in the selling afternoon compared to yesterday’s close, listed at 67.7 – 68. 7 million VND/tael (buy in – sell out).

SJC gold price in Hanoi market was listed by Saigon Jewelry Company at 67.95 – 68.87 million VND/tael (buy in – sell out), an increase of 250,000 VND/tael in buying afternoon. and increased by 150 thousand dong/tael in the selling afternoon compared to the end of yesterday.

World gold price

On the night of March 21 (Vietnam time), the world spot gold price stood around $1,934 per ounce. Gold for April delivery on the Comex New York exchange was at $1,935 per ounce. The world gold price on the night of March 21 was about 2.1% higher ($39/ounce) than at the beginning of 2021.

Gold price on the world market increased after a few days of slack. Investors look to gold and oil as uncertainty increases in the euro area. Global stock markets are mixed. US stock indexes tend to be weaker at the opening session. The Russia-Ukraine war still makes the markets volatile.

Gold also increased because the commodity closely related to gold, oil, rose sharply again above the threshold of 110 USD/barrel.

Gold is still considered as a stormy asset in the short term when conflict in Ukraine will hardly be fully resolved in 2022. Gold has always benefited from geopolitical uncertainties. Gold is forecasted to rise above the $2,000/ounce barrier.

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