How long will the gold price increase?

At 7 a.m. this morning (March 26), gold price spot on Kitco is 1,958 USD/ounce, equivalent to 54.06 million VND/tael.

Rising global gold prices amid concerns over soaring prices and uncertainty surrounding Ukraine have increased gold’s appeal as a safe-haven and a hedge against inflation.

In the domestic market, at 9am this morning (March 26), Saigon VBDQ Company listed the price of gold SJC bought at 68.60 million VND/tael; the selling price was 69.35 million dong/tael, an increase of 150,000 dong/tael in the buying afternoon and 100,000 dong/tael in the selling afternoon compared to the closing session on March 25. The price difference between buying and selling is currently 650,000 VND/tael.

In Ho Chi Minh City, the selling price of gold was 69.35 million VND/tael, an increase of 50,000 VND/tael in the buying direction and 100,000 VND/tael in sales. The difference between buying and selling fluctuates from 750,000 to 770,000 VND/tael.

Currently, the selling price of SJC gold is still more than 15 million dong/tael higher than the world gold price.

Yields on US government bonds and the dollar rose sharply as high inflation fueled speculation that the Fed would raise interest rates and tighten monetary policy more aggressively. A stronger dollar makes gold, a precious metal priced in this currency, more expensive for buyers holding other currencies.

According to Peter Cardillo, a market economist at investment brokerage Spartan Capital Securities (USA, the price of gold could exceed $2,000 an ounce when inflation makes investors look to gold as a hedge measure). risk of price escalation.

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