Gold price today March 2, 2025, gold price stopped increasing, heading for the biggest loss since the US Presidential election week in November 2024. However, many analysts said that this fluctuation is not surprising and still bet on the mark of 3,000 USD/ounce. Gold ring price is higher than SJC gold bar.
| 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 3/2/2025
Domestic gold prices fluctuated strongly last week.
Opening the first trading session of the week on February 24, domestic gold prices decreased slightly.
Specifically, Saigon Jewelry Company (SJC) and DOJI Jewelry Group listed the selling price of SJC gold bars at VND89.2 - 90.5 million/tael (buy - sell), down VND200,000 in both buying and selling directions compared to the previous session's closing price.
Similarly, the price of gold rings also decreased slightly. Saigon Jewelry Company SJC listed the price of gold rings at 89.1 - 91.2 million VND/tael (buy - sell), down 200 thousand VND/tael in both buying and selling compared to the closing price yesterday.
After 3 sessions of fluctuating up and down in the middle of the week, by the afternoon of February 28, domestic gold prices had dropped sharply.
Specifically, Saigon Jewelry Company (SJC) and DOJI Jewelry Group listed the selling price of SJC gold bars at VND88.5 - 90.5 million/tael (buy - sell), down VND400,000/tael for buying and down VND700,000/tael for selling compared to the closing price on February 27.
Similarly, Saigon Jewelry Company (SJC) listed the price of gold rings at VND88.5 - 90.4 million/tael (buy - sell), down VND400,000/tael for both buying and selling compared to the closing price on February 27.
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| Gold price today March 2, 2025: Gold price stops 'peak swing', gold rings surpass gold bars, experts are still optimistic. (Source: Kitco News) |
Summary of SJC gold bar and gold ring prices at major domestic trading brands at the closing time of 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.
Thus, in the domestic market, the price of SJC gold bars and gold rings recorded a sideways trend.
According to the World and Vietnam Newspaper , at 4:46 p.m. on March 2 (Vietnam time), the world gold price at Kitco News was at 2,858.1 USD/ounce, down 19.5 USD/ounce compared to the previous trading session.
Converted according to USD price at Vietcombank on March 1, 1 USD = 25,730 VND, world gold price is equivalent to 88.6 million VND/tael.
Gold's eight-week winning streak has come to a halt as the precious metal heads for its biggest loss since the week of the November 2024 US presidential election.
After hitting a new record high above $2,970 an ounce, gold prices fell to a three-week low on Feb. 28. April gold futures were last trading at $2,850 an ounce, down more than 1.5% on the day and down more than 3% from Feb. 21.
Despite the sharp drop in gold prices, many analysts say the move is not surprising; the precious metal is technically overbought as investors try to push prices to $3,000 an ounce.
Ole Hansen , head of commodity strategy at Saxo Bank, described this week’s price action as an overdue correction, adding that he could see gold testing support around $2,800 an ounce.
Despite the decline, many analysts said the sell-off caused only limited technical damage to gold.
“So far, this has been a normal pullback and I’m not worried. Prices could retrace and retest support at $2,800 an ounce, the high due in late October 2024,” said Jess Colombo , an independent precious metals analyst and creator of the BubbleBubble Report. “If for some reason the price closes below $2,800 an ounce, I’ll be more defensive, which applies to mining stocks and short positions, but not to physical bullion holdings.”
Analyst Colombo noted that it is difficult to be completely bearish on gold as inflationary pressures continue to mount and the US economy remains weak.
In the latest example of rising economic risks, the Atlanta Federal Reserve released its latest GDP forecast. The regional central bank expects the US economy to shrink by 1.5% in the first quarter of this year.
Analysts also noted that gold remains well supported as a safe-haven asset as the US government under President Donald Trump announced it would impose 25% tariffs on imports from Canada and Mexico and 10% tariffs on China starting March 4. The move is expected to spark a trade war as Ottawa and Mexico City prepare to retaliate against Washington with targeted tariffs of their own.
Kelvin Wong , senior market analyst at OANDA, expects gold prices to remain in a solid long-term uptrend even if prices correct in the short term. He added that the key support level he is watching is $2,716 an ounce.
Any further deterioration in economic data would provide safe-haven support for gold, according to Mr Wong.
The release of February non-farm payrolls data next week will continue to focus on the US labor market, while traders and investors will also pay attention to PMI data for the services and manufacturing sectors.
Investors will also be eagerly awaiting the European Central Bank (ECB) monetary policy decision, which could have a broader impact on gold. The ECB is expected to cut interest rates again next week, which could provide some support to the US dollar, creating a headwind for gold.
Aside from short-term speculative moves, investment demand for gold is rising. Last week, data from the World Gold Council revealed 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 February 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 amid rising inflation fears.
Major investment firms including WisdomTree and Goldman Sachs say that despite the risk of a short-term correction, gold is still on track to hit $3,000 an ounce this year.
In another indicator of investor sentiment, analysts at BMO Capital Markets reported that gold and copper were the most discussed commodities at their exclusive mining conference. Interestingly, silver came in a “third” spot in terms of interest.
While downside risks to gold remain, it is important to focus on the long-term outlook.
Source: https://baoquocte.vn/gia-vang-hom-nay-232025-gia-vang-dung-du-dinh-vang-nhan-vuot-mat-vang-mieng-gioi-chuyen-gia-van-phoi-phoi-lac-quan-306042.html
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