Updated gold price at the end of session 3.3: Gold bars increased

Updated SJC gold price

As of 5:30 p.m., DOJI Group listed the price of SJC gold bars at VND89-91 million/tael (buy - sell), an increase of VND500,000/tael for both buying and selling. The difference between the buying and selling prices of SJC gold was listed by DOJI at 2 million VND/tael.

At the same time, the price of SJC gold bars was listed by Saigon Jewelry Company at VND89-91 million/tael (buy - sell), an increase of VND500,000/tael for both buying and selling. The difference between the buying and selling prices of SJC gold was listed by DOJI at 2 million VND/tael.

Meanwhile, Bao Tin Minh Chau listed the price of SJC gold bars at 89.3-91 million VND/tael (buy - sell), an increase of 600,000 VND/tael for buying and an increase of 500,000 VND/tael for selling. The difference between the buying and selling prices of SJC gold was listed by Bao Tin Minh Chau at 1.7 million VND/tael.

9999 round gold ring price

As of 5:30 p.m. today, the price of Hung Thinh Vuong 9999 round gold rings at DOJI was listed at 90.65-91.5 million VND/tael (buy - sell); increased by 650,000 VND/tael for buying and increased by 500,000 VND/tael for selling. The difference between buying and selling is listed at 850,000 VND/tael.

Bao Tin Minh Chau listed the price of gold rings at 90.6-91.8 million VND/tael (buy - sell); increased by 500,000 VND/tael for both buying and selling. The difference between buying and selling is 1.2 million VND/tael.

World gold price

As of 5:30 p.m., the world gold price listed on Kitco was at 2,869.1 USD/ounce, up 11 USD/ounce compared to the same time of the previous session.

Gold price forecast

World gold prices increased slightly in the context of the USD decreasing. Recorded at 5:30 p.m. on March 1, the US Dollar Index measuring the fluctuations of the greenback against 6 major currencies was at 106.970 points (down 0.54%).

According to Reuters, gold prices increased on Monday due to a weakening of the USD, while the delay in the peace process in Ukraine and concerns about US tariff policies increased safe-haven demand for precious metals.

Golds upward momentum at the start of todays Asia session could be driven by geopolitical risks as the expected peace deal between Ukraine and Russia continues to be delayed, Kelvin Wong, senior market analyst for the Asia-Pacific region at OANDA, said.

The meeting between Ukrainian President Volodymyr Zelenskiy and US President Donald Trump on Friday ended in failure, adding to the uncertainty in the financial market that had been shaken by weak economic data and fluctuations around US trade policy.

US Secretary of Commerce Howard Lutnick said on Sunday that tariffs on Canada and Mexico will take effect on Tuesday, but Donald Trump will decide whether to keep the planned 25% or not.

The US president also announced that he would impose an additional 10% tax on Chinese goods on Tuesday, doubling the 10% tax rate applied since February 4.

Data released on Friday showed that US consumer spending unexpectedly decreased in January. However, rising inflation could be a reason for the Federal Reserve to delay interest rate cuts in the coming time.

Although gold is considered a safe haven asset in the context of geopolitical instability, the attractiveness of this precious metal may decline when interest rates are high.

The buying power taking advantage of the time of cheap prices is also appearing in the market. Despite the decline, experts say strong demand from central banks will continue to push gold prices.

In the latest report, Lina Thomas - an analyst at Goldman Sachs Research predicted that gold prices will increase by 8% in 2025, reaching an all-time high of 3,100 USD/ounce. Previously, the analysis team only predicted that gold prices would reach $2,890/ounce.

The new forecast is being raised by higher-than-expected demand for gold from central banks, especially after the Russian central banks assets were frozen in 2022, Goldman Sachs wrote.

In addition to strong demand from central banks, Goldman Sachs Research also expects capital flows into gold ETFs to increase as interest rates fall, making gold more attractive to investors.

However, this factor may be somewhat affected by speculators reducing their net buying position in the gold futures market. Currently, net buying position is still very high as concerns about prolonged tariffs from the US President Donald Trump administration force investors to seek safe-haven assets such as gold, said an expert at Goldman Sachs.