Gold price today March 26: Inflation defense, gold price rises again

Gold prices spiked again due to concerns about soaring prices and the situation in Ukraine. Gold as a safe haven and a hedge against inflation.

Domestic gold price

Opening the market on March 26, today’s gold price of 9999 of SJC in Hanoi increased by 100 thousand dong in the buying afternoon and 150 thousand dong in the selling afternoon compared to the end of yesterday’s trading session. Specifically, at 9:47 am on March 26, 9999 gold was traded by Doji Jewelry Group and SJC as follows:

SJC and DOJI gold price list updated at 9:47 am on March 26

End of trading session yesterday, gold bar price 9999 Listed at SJC and Doji are as follows:

SJC Hanoi: 68.55 million VND/tael (buy in) – 69.27 million VND/tael (sold out)

SJC HCMC: 68.55 million VND/tael (buy in) – 69.25 million VND/tael (sold out)

Doji Hanoi: 68.3 million dong/tael (buy in) – 69.2 million dong/tael (sold out)

Doji Ho Chi Minh City: 68.3 million dong/tael (buy in) – 69.2 million dong/tael (sold out)

International gold price

On the world gold market, spot gold price in the US increased by 12.9 USD/ounce to 1,956.9 USD/ounce. Gold futures for delivery in April 2022 on the Comex New York exchange increased by $24.9 to $1,962.2 per ounce.

Gold price today

The number of applications for unemployment benefits last week fell to 187,000, the lowest level since 1969, boosting confidence that the US economy will continue to grow beyond barriers such as the conflict, the US Labor Department said. Russia-Ukraine conflict and high interest rate environment.

Under the Goldman Sachs bearish scenario, a severe disruption in gas flows from Russia could reduce Europe’s gross domestic product by 2.5% and reduce US economic output by 0.25% in the coming year. this year.

Markets are closely watching the war in Ukraine, with the European Union weighing an oil embargo against Russia, when it meets with US President Joe Biden in this week.

The leaders of the United States, the North Atlantic Treaty Organization (NATO), the Group of Seven leading industrial nations (G7) and the European Union (EU) met in Brussels, Belgium.

At the conference, the US announced it would impose new sanctions on many Russian individuals, and announced measures to cooperate with allies to limit the country’s ability to use the bank’s gold reserves. central bank to “dodge” sanctions from the West.

Gold price forecast

Strategist Ilya Spivak of the financial site DailyFX (USA) believes that the recent increase in gold is due to concerns about situation in Ukrainewhen the market has not seen progress in the negotiations.

The markets are still trying to find a foothold, said Jack Ablin, chief investment officer at Cresset Capital. It is difficult to assess the impact of interest rate increases on inflation, the economy, and profit growth. Not to mention a Russian-Ukrainian conflict that is choking off oil supplies.”

Told him