Gold prices fall sharply, negative outlook

Việt NamViệt Nam02/03/2025


Update SJC gold price

As of 4:00 a.m., the price of SJC gold bars was listed by DOJI Group and Saigon Jewelry Company at VND88.5 - 90.5 million/tael (buying price - selling price). Both companies kept the same price as yesterday. The difference between buying price and selling price is VND2 million/tael at both units.

Meanwhile, Bao Tin Minh Chau listed the price of SJC gold bars at 88.7 - 90.5 million VND/tael. The buying price decreased by 100,000 VND/tael, while the selling price remained the same. The difference between buying and selling prices here is 1.8 million VND/tael, lower than DOJI and Saigon SJC.

Price of round gold ring 9999

Regarding the price of 9999 round gold rings, DOJI listed it at 90 - 91 million VND/tael, unchanged from yesterday. The difference between buying and selling prices is 1 million VND/tael.

Meanwhile, Bao Tin Minh Chau listed the price of gold rings at 90.1 - 91.3 million VND/tael. The buying price increased by 50,000 VND/tael, while the selling price remained unchanged. The difference between buying and selling prices here is 1.2 million VND/tael, slightly higher than DOJI.

Gold price today 3/2/2025: Gold price drops sharply, negative outlook

Update gold price details

1. DOJI - Updated: 03/02/2025 04:00 - Time of the source website - ▼/▲ Compared to yesterday.
Type Buy Sell
AVPL/SJC HN 88,500 90,500
AVPL/SJC HCM 88,500 90,500
AVPL/SJC DN 88,500 90,500
Raw material 9999 - HN 90,000 90,400
Raw material 999 - HN 89,900 90,300
AVPL/SJC Can Tho 88,500 90,500
2. PNJ - Updated: 03/02/2025 04:00 - Time of website 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
3. AJC - Updated: 03/02/2025 04:00 - Source website time - ▼/▲ Compared to yesterday.
Type Buy Sell
Jewelry 99.99 8,910 9,120
99.9 Jewelry 8,900 9,110
NL 99.99 8,910
Round ring not sealed in blister T.Binh 8,900
Round, 3A, Yellow T.Bình 9,000 9,130
Round, 3A, Yellow N.An 9,000 9,130
Round, 3A, Yellow Street, Hanoi 9,000 9,130
SJC Thai Binh pieces 8,850 9,050
SJC Nghe An pieces 8,850 9,050
SJC Hanoi Piece 8,850 9,050

World gold price

On the world market, as of 04:00, the gold price was listed at 2,857.44 USD/ounce, up 9.77 USD/ounce compared to the previous trading session. This is a slight increase, showing that the world gold market is having insignificant fluctuations.

According to the weekly Kitco News survey, bullish sentiment on gold prices has dropped significantly among analysts and retail investors. Many experts predict a negative outlook for gold prices next week, but this is only a temporary correction after a strong rally since the beginning of the year.

Adrian Day, chairman of Adrian Day Asset Management, said gold prices could fall due to profit-taking by investors. However, he stressed that the decline is not a cause for concern as gold has gained 12% this year and is down less than 4% from its recent peak.

Marc Chandler, CEO of Bannockburn Global Forex, also agreed that gold prices could continue to fall in the short term. He said gold is showing signs of trading more like a risk asset than a safe haven. The next support level for gold could be $2,814 an ounce, above which prices could fall to $2,770 an ounce.

Daniel Pavilonis, senior commodities broker at RJO Futures, said the recent decline in gold is related to the “risk-off” sentiment in financial markets. He explained that both stocks and gold are falling, while US bond yields are also cooling, indicating that money is flowing out of risky assets.

Pavilonis warned that if the S&P 500 falls below 5,700, gold could fall to $2,600 an ounce – which corresponds to the 200-day moving average.

Adam Button, Chief FX Strategist at Forexlive.com, said gold prices could continue to fall as money flows from China to equities from gold, amid signs of a recovery in the Chinese economy.

Everett Millman, an analyst at Gainesville Coins, said the drop was a healthy correction after a strong run earlier this year. 'Before this week, gold was mostly going up. Corrections are normal, especially when investors are taking profits and waiting for new opportunities,' he said.

Millman remains bullish on gold's long-term prospects and believes that $3,000 an ounce could soon become new support if gold prices can break above this level.

Jim Wyckoff, senior analyst at Kitco, warned that the gold market is lacking new positive news to sustain its rally. 'A bull market needs to be fueled by positive news. Lately, the gold market has lacked that,' he said.



Source: https://baoquangnam.vn/gia-vang-hom-nay-2-3-2025-gia-vang-trong-nuoc-va-the-gioi-giam-manh-trien-vong-tieu-cuc-3149765.html

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