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Gold price lost 69 million VND/tael

This morning (March 31), domestic gold price fluctuations in contrast with developments in the world gold market. After the world gold price regained its upward momentum after 2 consecutive days of deep decline, the domestic gold price continued its downward trend.

Currently, the selling price of gold has fallen below 69 million dong/tael after many days of holding at above 69 million dong/tael.

Opening the trading day this morning, the price of SJC gold was listed by Saigon Jewelry Company Limited in Hanoi at 68.15 – 68.87 million VND/tael (buying in – selling out). decreased by 150 thousand dong/tael in both buying and selling direction compared to yesterday’s closing.

Phu Quy Jewelry Joint Stock Company listed SJC gold price unchanged compared to yesterday’s closing session, at 68 – 68.8 million dong/tael (buy in – sell out).

Despite the continuous up-and-down adjustment, the difference between buying and selling is still stable at about 700,000 VND/tael.

World gold price continues to increase

Gold price lost 69 million VND/tael - Photo 1.

The gold market will continue to fluctuate in the near future.

The price of gold rose nearly 1% in the trading session on March 30. In the morning session of March 31, the spot gold price increased slightly by 0.01% to $1,933.1 per ounce at 6:13 am (Vietnam time), according to Kitco. Gold price for April delivery also increased 0.02% to $1,933.2.

Gold price in the international market increased again due to the US dollar’s decline and the fear of inflation has not subsided. There is no breakthrough in the situation in Ukraine. Meanwhile, prices continue to escalate in Europe and the world.

Forecasting the gold price, experts say that the gold price may lose 100 USD when the demand for safe-haven decreases due to the cooling of geopolitical tensions. However, according to precious metals analyst Bernard Dahdah at Natixis, the precious metals market will not be ready to “collapse” as it remains well supported.

According to this expert, the gold market will continue to fluctuate in the near future as the market continues to react to developments on the Russia-Ukraine conflict.

Looking at developments in Ukraine, Dahdah predicts gold will fall to $1,800/ounce in the short term. However, increasing inflationary pressure will be a supporting factor to help gold price not “fall without brake”.

Gold prices are mixed Gold prices are mixed

VTV.vn – The domestic gold price this morning (March 30) fluctuated mixed, while the world gold price dropped due to positive signals from the Russia-Ukraine negotiations.

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