Domestic gold price today

After a series of shocking increases, the price of domestic gold bars suddenly “plummeted”. Currently, gold brands are buying at 94.7 million VND/tael and selling at 97.7 million VND/tael. Phu Quy SJC Gold and Bao Tin Minh Chau are buying at 200,000 VND and 500,000 VND higher than other brands, respectively.

Similarly, the price of gold rings of the brands has also been adjusted down sharply. Specifically, the price of SJC 9999 gold rings decreased by 3.8 million VND for buying and 3 million VND for selling, down to 94.6 million VND/tael and 97.3 million VND/tael, respectively.

Domestic gold prices “plummet”. Photo: vnexpress.net

DOJI in Hanoi and Ho Chi Minh City markets adjusted down 2.6 million VND for buying and 1.7 million VND for selling to 95.9 million VND/tael and 98.5 million VND/tael, respectively.

PNJ brand gold ring price is listed at 96 million VND/tael and 98.5 million VND/tael, down 2.1 million VND for buying and 1.4 million VND for selling compared to early this morning.

Bao Tin Minh Chau listed the price of plain round gold rings at 96.4 million VND/tael for buying and 98.9 million VND/tael for selling, down 2.15 million VND for buying and 1.13 million VND for selling.

Phu Quy SJC is buying gold rings at 95.5 million VND/tael and selling at 98.5 million VND/tael, a decrease of 3 million VND in buying price and 1.8 million VND in selling price compared to early this morning.

Domestic gold bar prices updated at 5:30 am on March 22 as follows:

World gold price today

World gold prices fell, with spot gold down $20.9 to $3,024.4 an ounce. Gold futures last traded at $3,021.4 an ounce, down $22.4 from early yesterday morning.

Gold prices fell more than 1% on Friday, weighed down by a rebound in the US dollar and profit-taking pressure. The US Dollar Index rose 0.2% to a two-week high, making bullion priced in the greenback more expensive for overseas buyers.

Over the past three consecutive weeks, geopolitical and economic uncertainty, along with the prospect of a rate cut by the US Federal Reserve (Fed), have helped bullion prices maintain their upward momentum.

Gold, which is considered a safe investment during times of geopolitical and economic uncertainty and tends to perform well in low-interest-rate environments, has hit 16 record highs this year, hitting an all-time high of $3,057.21 an ounce on Thursday.

According to Marex analyst Edward Meir, the market is taking a breather. Some profit-taking at these levels and a strong US dollar are causing gold to correct in the short term.

Experts also stressed that this correction is normal and that the upward trend of gold is still intact. Zaner Metals vice president and senior metals strategist Peter Grant said that trade concerns and geopolitical risks continue to be the main drivers for gold.

Currently, US President Donald Trump still intends to impose new reciprocal tariffs on April 2.

World gold prices fall. Photo: Getty Images

The Fed kept its benchmark interest rate unchanged as widely expected this week, but said it would cut it twice this year by 25 basis points each time.

Traders are expecting at least two rate cuts this year, each by 25 basis points, with the market almost certain the first cut will come in July.

This week, developments in the Middle East continued to influence the direction of gold. Israel said it would take further action if the Hamas militant group continued to refuse to release the remaining hostages. Accordingly, Israel would intensify its air, sea and land attacks until the hostages were freed.

With the domestic gold bar price falling sharply and the world gold price listed at Kitco at 3,024.4 USD/ounce (equivalent to about 94 million VND/tael converted according to Vietcombank exchange rate, excluding taxes and fees), the difference between the domestic and world gold prices is about 3.7 million VND/tael.

TRẦN HOÀI