Continue to overwhelm

6 am this morning on March 25 (Vietnam time), world gold price on the Kitco exchange traded at 1,958.1 USD/ounce, up 13 USD per ounce compared to the early hours of the morning.

Gold prices rose by double digits worldwide on the back of safe-haven demand from the escalation of the Ukraine crisis, while a higher dollar and high bond yields weighed on gold.

The skyrocketing price of oil and many commodities is also the reason why money flows to seek safety in gold.

Domestic gold price

At the end of the trading session on March 24, Saigon Jewelry Company listed the price of SJC gold at 68.2 million dong/tael (buying in) and 68.92 million dong/tael (sold out).

DOJI Group listed the gold price at 68.1 million dong/tael (buying in) and 68.85 million dong/tael (sold out).

Gold price forecast

Gold prices are said to remain in an uptrend as the World Gold Council predicts that inflation will continue to linger and increase the attractiveness of this commodity.

According to analysts, gold investors should not be afraid that gold will give up the threshold of $ 2,000 / ounce without any major fluctuations. Gold has found a new range and the precious metal is building a solid base between $1,900 and $2,000 an ounce, according to Chantelle Schieven, head of research at Murenbeeld & Co..

The gold market has benefited from substantial safe-haven demand as the Russia-Ukraine conflict enters its fifth week. Even if the war in Eastern Europe is resolved, Schieven said, she does not expect the need for safe-havens to completely dry up, as conflict has become a key pivotal point that is changing the landscape. geopolitics and global financial markets.