SJC gold price increases, gold ring price decreases

Update on the closing price of gold on March 15: SJC gold increased, gold rings decreased — Illustration: Phan Anh

Domestic gold price

While the price of SJC gold increased, the price of gold rings today tended to decrease. As of 9 p.m., the price of round gold rings was listed by Phu Nhuan Jewelry (PNJ) at 67.90-69 million VND/tael (buy-sell). Compared to the closing price of yesterday's trading session, the price of gold rings was kept unchanged by PNJ.

Bao Tin Minh Chau listed the price at 68.38-69.68 million VND/tael (buy - sell). Compared to the opening of yesterday's trading session, the price of gold rings was adjusted by Bao Tin Minh Chau to decrease by 50,000 VND/tael for buying and by 150,000 VND/tael for selling.

Meanwhile, Saigon Jewelry listed the price at 67.8-69 million VND/tael for buying and selling. Compared to the closing price of yesterday morning's trading session, the price of gold rings was adjusted by Saigon Jewelry to increase by 50,000 VND/tael for buying and decrease by 50,000 VND/tael for selling.

World gold price

World gold prices moved sideways in the context of the USD index not having much change. Recorded at 9:00 p.m. on March 15, the US Dollar Index, which measures the fluctuations of the greenback against 6 major currencies, was at 103,030 points (up 0.04%).

Gold price forecast

Gold prices rose slightly today as oil prices, a commodity closely related to precious metals, rose in the afternoon session of March 14. Oil prices rose thanks to high demand in the US after gasoline inventories fell to a three-month low and crude oil inventories unexpectedly declined.

Investors are waiting for data on retail sales, producer price index and unemployment claims expected to be released on March 14, to measure the health of the US economy and influence the prospect of interest rate cuts by the US Federal Reserve (FED).

Investors are pricing in a 67% chance of a Fed rate cut in June, down from 72% before the consumer price index data was released, according to LSEG data.

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