Gold price today March 3, 2025: Profit-taking pressure has pushed the price of the precious metal below the threshold of 2,900 USD/ounce. Experts still believe that this is a normal correction, nothing surprising and gold is still in a long-term uptrend cycle, because technically, the precious metal has been overbought when investors tried to push the price to 3,000 USD/ounce.
| 1. PNJ - Updated: 01/01/1970 08:00 - Website time of supply source - ▼ / ▲ Compared to yesterday. | ||
| Type | Buy | Sell |
| HCMC - PNJ | 89,800 | 90,500 |
| HCMC - SJC | 88,500 | 90,500 |
| Hanoi - PNJ | 89,800 | 90,500 |
| Hanoi - SJC | 88,500 | 90,500 |
| Da Nang - PNJ | 89,800 | 90,500 |
| Da Nang - SJC | 88,500 | 90,500 |
| Western Region - PNJ | 89,800 | 90,500 |
| Western Region - SJC | 88,500 | 90,500 |
| Jewelry gold price - PNJ | 89,800 | 90,500 |
| Jewelry gold price - SJC | 88,500 | 90,500 |
| Jewelry gold price - Southeast | PNJ | 89,800 |
| Jewelry gold price - SJC | 88,500 | 90,500 |
| Jewelry gold price - Jewelry gold price | PNJ 999.9 Plain Ring | 89,800 |
| Jewelry gold price - Jewelry gold 999.9 | 88,000 | 90,500 |
| Jewelry gold price - Jewelry gold 999 | 87,910 | 90,410 |
| Jewelry gold price - Jewelry gold 99 | 87,200 | 89,700 |
| Jewelry gold price - 916 gold (22K) | 80,500 | 83,000 |
| Jewelry gold price - 750 gold (18K) | 65,530 | 68,030 |
| Jewelry gold price - 680 gold (16.3K) | 59,190 | 61,690 |
| Jewelry gold price - 650 gold (15.6K) | 56,480 | 58,980 |
| Jewelry gold price - 610 gold (14.6K) | 52,860 | 55,360 |
| Jewelry gold price - 585 gold (14K) | 50,590 | 53,090 |
| Jewelry gold price - 416 gold (10K) | 35,300 | 37,800 |
| Jewelry gold price - 375 gold (9K) | 31,590 | 34,090 |
| Jewelry gold price - 333 gold (8K) | 27,520 | 30,020 |
Update gold price today 3/3/2025
World gold prices officially started a new trading week at a very high level - 2,850 USD/ounce.
However, the yellow metal had appeared poised to challenge its all-time high, peaking at $2,956 an ounce last Monday (February 24). But after a series of attempts to hold the $2,950 an ounce level, the market failed. Traders quickly pushed the spot price below $2,900 an ounce.
According to the World and Vietnam Newspaper at the close of trading last week (February 28), the world gold price listed on the Kitco electronic floor was at 2,857.30 USD/ounce , continuing to drop sharply by 20.2 USD/ounce compared to the previous trading session. During the session, there was a time when the gold price dropped to nearly 2,830 USD. In total, the gold price lost more than 3% for the week, recording the worst week since November 2024.
The latest Kitco News weekly gold survey shows that optimism among both professionals and retail traders is becoming a minority view, as gold prices have continued to decline in each of the past trading sessions.
The USDX remained near a two-week high after data showed U.S. inflation matched forecasts, reinforcing the case for the Federal Reserve to be cautious about cutting interest rates. A stronger dollar makes gold more expensive for non-U.S. buyers. Meanwhile, major U.S. stock indexes fell this week as investors were cautious about price pressures from President Donald Trump’s policies.
The US personal consumption expenditures (PCE) index rose 0.3% in January, in line with analysts' forecasts. In December, the PCE rose 0.3%. The market therefore maintains expectations that the Fed will only cut interest rates from the June meeting. Lower interest rates will make gold more attractive.
However, overall, gold prices still recorded a second consecutive monthly increase, mainly due to concerns about Mr. Trump's plans to impose import tariffs on countries. On February 27, he announced that he would impose an additional 10% tax on Chinese goods starting March 4. A 25% tax on Mexico and Canada will also take effect on the same day.
Domestic gold prices fall following world trends.
Domestic gold prices are more stable than in recent trading weeks. Entering the new week, both gold bar and gold ring prices have slightly adjusted, around VND90 million/tael for buying and VND91 million/tael for selling.
Summary of SJC gold bar prices and 9999 gold ring prices at major domestic trading brands at the closing time of the first trading session of March (March 1):
Saigon Jewelry Company SJC: SJC gold bars 88.5 - 90.5 million VND/tael; SJC gold rings 88.5 - 90.4 million VND/tael.
DOJI Group: SJC gold bars 88.5 - 90.5 million VND/tael; 9999 round rings (Hung Thinh Vuong) 90.0 - 91.0 million VND/tael.
PNJ system: SJC gold bars 88.5 - 90.5 million VND/tael; PNJ 999.9 plain gold rings at 89.8 - 90.5 million VND/tael.
Phu Quy Gold and Silver Group: SJC gold bars: 88.7 - 90.5 million VND/tael; Phu Quy 999.9 round gold rings: 89.7 - 91.2 million VND/tael.
SJC gold price at Bao Tin Minh Chau is listed at 88.7 - 90.5 million VND/tael; round gold ring price is 90.1 - 91.3 million VND/tael.
Converted according to the USD price at Vietcombank on March 1, 1 USD = 25,730 VND, the world gold price is equivalent to 88.6 million VND/tael. The difference between domestic and world gold prices is around 1.5 million VND/tael.
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| Gold price today 3/3/2025: Gold price 'flickers' at record level, worst week, stay calm and buy as soon as gold drops. (Source: Kitco) |
Gold price drop is an opportunity to buy now!
The world gold price has ended its eight-week streak of consecutive increases, with a decrease of 78.2 USD/ounce compared to the closing price of the previous week. However, experts still believe that this is a normal adjustment and gold is still in a long-term price increase cycle.
Despite gold’s biggest weekly drop since the November U.S. election, analysts remain optimistic about the precious metal’s long-term prospects. The decline was not entirely unexpected, as many analysts have warned that the market is overcrowded and it is time for a correction.
Further selling pressure could push gold down to key support at $2,800/oz. However, despite these short-term risks, the long-term uptrend remains firmly in place.
Aside from short-term speculative moves, investment demand for gold is rising. Last week, data from the World Gold Council showed that 48 tonnes of gold — worth $4.6 billion — flowed into North American-listed gold-backed ETFs, marking the biggest one-week surge since early April 2020.
Looking ahead, analysts expect Western investment demand to pick up as economic uncertainty grows. Consumer sentiment has fallen to multi-year lows in recent weeks, while inflation fears have spiked.
Those concerns were reinforced by disappointing economic data. On Friday, the Atlanta Federal Reserve’s first-quarter GDP tracker showed the economy contracted 1.5% in the quarter, down sharply from last week’s estimate of 2.3% growth — one of the sharpest declines in the index’s history.
Stagflation creates an ideal environment for gold, analysts note, as it acts as a hedge against economic uncertainty. In addition, higher inflation reduces real yields, reducing the opportunity cost of holding gold as a non-yielding asset.
Major investment firms including WisdomTree and Goldman Sachs have maintained that despite the risk of a near-term correction, gold is still on track to hit $3,000 an ounce this year. While downside risks remain for gold, they say it is important to focus on the long-term outlook.
Source: https://baoquocte.vn/gia-vang-hom-nay-332025-gia-vang-choi-nguong-ky-luc-tuan-te-nhat-tu-dau-nam-giu-binh-tinh-va-mua-vao-ngay-khi-giam-306080.html
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