Gold price today March 11, 2025, Gold price decreased, USD increased, putting pressure on the precious metal, there will continue to be a downward adjustment. The market focuses on US President Donald Trump's tariff war in an environment of increasing geopolitical risks. The reason why Russians increase gold reserves.
| 1. PNJ - Updated: 01/01/1970 08:00 - Website time of supply source - ▼ / ▲ Compared to yesterday. | ||
| Type | Buy | Sell |
| HCMC - PNJ | 91,800 ▲100K | 93,350 ▲150K |
| HCMC - SJC | 90,900 | 92,900 |
| Hanoi - PNJ | 91,800 ▲100K | 93,350 ▲150K |
| Hanoi - SJC | 90,900 | 92,900 |
| Da Nang - PNJ | 91,800 ▲100K | 93,350 ▲150K |
| Da Nang - SJC | 90,900 | 92,900 |
| Western Region - PNJ | 91,800 ▲100K | 93,350 ▲150K |
| Western Region - SJC | 90,900 | 92,900 |
| Jewelry gold price - PNJ | 91,800 ▲100K | 93,350 ▲150K |
| Jewelry gold price - SJC | 90,900 | 92,900 |
| Jewelry gold price - Southeast | PNJ | 91,800 ▲100K |
| Jewelry gold price - SJC | 90,900 | 92,900 |
| Jewelry gold price - Jewelry gold price | PNJ 999.9 Plain Ring | 91,800 ▲100K |
| Jewelry gold price - Jewelry gold 999.9 | 90,800 ▲200K | 93,300 ▲200K |
| Jewelry gold price - Jewelry gold 999 | 90,710 ▲200K | 93,210 ▲200K |
| Jewelry gold price - Jewelry gold 99 | 89,970 ▲200K | 92,470 ▲200K |
| Jewelry gold price - 916 gold (22K) | 83,060 ▲180K | 85,560 ▲180K |
| Jewelry gold price - 750 gold (18K) | 67,630 ▲150K | 70,130 ▲150K |
| Jewelry gold price - 680 gold (16.3K) | 61,090 ▲130K | 63,590 ▲130K |
| Jewelry gold price - 650 gold (15.6K) | 58,300 ▲130K | 60,800 ▲130K |
| Jewelry gold price - 610 gold (14.6K) | 54,560 ▲120K | 57,060 ▲120K |
| Jewelry gold price - 585 gold (14K) | 52,230 ▲120K | 54,730 ▲120K |
| Jewelry gold price - 416 gold (10K) | 36,460 ▲80K | 38,960 ▲80K |
| Jewelry gold price - 375 gold (9K) | 32,640 ▲80K | 35,140 ▲80K |
| Jewelry gold price - 333 gold (8K) | 28,440 ▲70K | 30,940 ▲70K |
Update gold price today 3/11/2025
Domestic gold price increased slightly on the morning of March 10
Specifically, DOJI Gold and Gemstone Group and Saigon Jewelry Company (SJC) both listed the selling price of SJC gold bars at 90.7 - 92.7 million VND/tael (buy - sell), an increase of 200 thousand VND/tael in both buying and selling compared to the closing price yesterday.
Bao Tin Minh Chau Company also listed the price of gold bars and gold rings at 91.7 - 93.3 million VND/tael (buy - sell), keeping the same price as the closing price yesterday.
Saigon Jewelry Company (SJC) listed the price of gold rings at 91.1 - 93 million VND/tael (buy - sell), an increase of 200 thousand VND/tael in both buying and selling compared to the closing price yesterday.
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| Gold price today March 11, 2025: Gold price drops, market focuses on Trump's tariff war, why Russians are pouring money into buying gold. (Source: Kitco News) |
Summary of gold prices at major domestic trading brands at closing times of trading session on the afternoon of March 10:
Saigon Jewelry Company SJC: SJC gold bars 90.9 - 92.9 million VND/tael; SJC gold rings 90.9 - 92.8 million VND/tael.
DOJI Group: SJC gold bars 91.1 - 93.1 million VND/tael; 9999 round rings (Hung Thinh Vuong) 91.9 - 93.4 million VND/tael.
PNJ system: SJC gold bars 90.9 - 92.9 million VND/tael; PNJ 999.9 plain gold rings: 91.8 - 93.35 million VND/tael.
Phu Quy Gold and Silver Group: SJC gold bars 91.1 - 93.1 million VND/tael; Phu Quy 999.9 round gold rings: 91.8 - 93.4 million VND/tael.
The price of SJC gold at Bao Tin Minh Chau is listed at 91.1 - 93.1 million VND/tael. The price of round gold rings at Vang Rong Thang Long is listed at 91.9 - 93.5 million VND/tael.
Thus, compared to the morning session of March 10, at the end of the afternoon session of the same day, in the domestic market, the prices of gold bars and gold rings both tended to decrease slightly.
According to the World & Vietnam Newspaper , information on Kitco , as of 7:09 p.m. Vietnam time on March 10, the world gold price was listed at 2,905.4 USD/ounce, down 6.1 USD/ounce compared to the previous trading session.
Converted according to USD price at Vietcombank on March 10, 1 USD = 25,700 VND, world gold price is equivalent to 89.96 million VND/tael.
Gold prices fell on March 10 as a stronger dollar offset safe-haven demand amid trade war concerns, while investors eyed inflation data due this week for clues on the US Federal Reserve's next interest rate decision.
Spot gold was at $2,913.09 an ounce at 09:46 GMT, while US gold futures rose 0.2% to $2,920.10 an ounce.
The dollar index held above last week's four-month low, making gold more expensive for holders of other currencies.
Quantitative commodities research analyst Peter Fertig said the rising greenback is putting pressure on bullion and he expects a further correction below $2,900 an ounce.
Meanwhile, the market’s focus remains on trade tensions. In his latest warning to Canada, US President Donald Trump said on March 7 that reciprocal tariffs on dairy and lumber could be imminent.
Gold's success in holding above $2,900 an ounce reflects concerns about the broader economic picture and a growing geopolitical risk environment, Frank Watson , market analyst at Kinesis Money, said in a note.
Traders are looking to US Consumer Price Index (CPI) data on Wednesday and Producer Price Index (PPI) on Thursday for signals on Fed interest rates.
So far this year, the US central bank has kept interest rates unchanged after cutting them three times by 2024. Market prices reflect expectations of another cut in June.
Gold bullion is seen as a hedge against inflation and geopolitical instability but higher interest rates could reduce the appeal of the non-yielding asset.
Meanwhile, data showed consumer prices in China, the world's top gold consumer, missed expectations in February and fell at the fastest pace in 13 months, while producer price deflation continued.
Previously, in the same afternoon session on March 10, world gold prices recorded another increase.
Capital.com financial market analyst Kyle Rodda said that uncertainty in U.S. foreign policy and risks to economic growth are making gold more attractive. He predicted that gold prices will soon surpass $3,000 an ounce, possibly within the next few months.
The inconsistent tariff announcements have rattled Wall Street, with investors saying the U.S.’s constant reversing of its tariff decisions on trading partners is causing confusion rather than calm. Tariffs are a top concern for investors because they can slow economic growth and cause inflation.
Russians buy record amount of gold
Russians bought a record amount of gold in 2024 as they sought to protect their savings amid sanctions, according to Mining .
Russian consumers bought 75.6 tonnes (2.7 million ounces) of gold bars, coins and jewelry in 2024, ranking fifth in the world, according to data released by the World Gold Council on Feb. 5. That was up 6% from 2023 and up more than 60% since Moscow launched its military campaign in Ukraine three years ago.
Russia is the world’s second-largest gold producer, mining more than 300 tonnes of the precious metal each year. Since the conflict in Ukraine broke out, Russian gold has been shunned by the West, with supplies to trading centres such as London and New York drying up. Russia’s central bank, once the world’s biggest buyer of gold, has also not resumed buying.
Retail demand for gold has surged as the military campaign has intensified. Russians have begun looking for ways to protect their savings beyond traditional investments in dollars or euros. Western sanctions last year have made cross-border payments more difficult and led to some foreign currency shortages, while the ruble has also fallen to record lows.
To boost gold sales, Russia abolished value-added tax on retail purchases of the precious metal shortly after launching its military campaign in Ukraine.
Source: https://baoquocte.vn/gia-vang-hom-nay-1132025-gia-vang-giam-thi-truong-de-tam-vao-cuoc-chien-thue-quan-cua-ong-trump-ly-do-nguoi-nga-don-tien-mua-vang-306998.html
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