Gold price on Kitco floor at 9:00 p.m. (March 10, Vietnam time) was trading at 2,903.2 USD/ounce, down 0.29% compared to the beginning of the session. Gold futures price for April 2025 delivery on Comex New York floor was trading at 2,951 USD/ounce.

At the beginning of the trading session on March 10 (US time), the world gold price decreased as investors rushed to take profits to cover stock losses. The market was sold off due to concerns about a trade war between the US and countries subject to high tariffs imposed by President Donald Trump.

US Commerce Secretary Howard Lutnick asserted that President Trump will not back down on fentanyl.

Mr Trump's trade policies have raised concerns that trade wars could hurt economic growth and push up prices at a time when Americans have been suffering from years of high inflation.

Rich Checkan, president and CEO of Asset Strategies International, said that concerns about the stock market and inflation will cause gold prices to continue to rise.

Alex Kuptsikevich, senior market analyst at FxPro, said that since the beginning of March, gold prices have been on an upward trend, regularly surpassing the $2,900/ounce mark. US President Donald Trump’s tariff policies and the threat of a trade war remain key factors driving the market and supporting gold prices.

Screenshot 2025 02 17 192021.png
World gold prices were sold to take profits. Photo: NH

The Federal Reserve meeting in a few weeks could be a significant catalyst for the direction of Treasury yields, the US dollar and gold, according to Colin Cieszynski, market strategist at SIA Wealth Management. He personally believes that gold could soon hit $3,000 an ounce, especially if political turmoil occurs.

Inflation will be in focus. The February CPI and PPI reports due midweek, along with the MCSI preliminary consumer sentiment survey results due later in the week, will be key to gold’s next move.

In the domestic market, at the end of the session on March 10, the price of 9999 gold bars at SJC was 90.9 million VND/tael (buy) and 92.9 million VND/tael (sell). Doji listed it at 90.9 million VND/tael (buy) and 92.9 million VND/tael (sell).

SJC announced the price of gold rings of type 1-5 at only 90.9-92.8 million VND/tael (buy - sell). Doji listed the price of 9999 smooth round gold rings at 91.9-93.4 million VND/tael (buy - sell).

Gold Price Forecast

Chantelle Schieven, head of research at Capitalight Research, predicts that gold prices could reach $3,200 an ounce in the future. She notes that central bank demand will continue to support gold prices. Uncertainties over President Trump’s trade policies will prompt many banks to seek ways to reduce their reliance on the dollar.

Analysts predict that although there may be some adjustments in the short term, world gold prices are still receiving many supporting factors to continue their upward momentum in the medium and long term.

Kelvin Wong, an expert at Oanda, predicts that gold prices will maintain a long-term uptrend, even if there are short-term corrections. He assesses the current important support level at $2,716/ounce.

Some other analysts predict that if gold breaks through $2,950 an ounce, it will pave the way to $3,180 an ounce. Gold investors need to consider the sentiment around US stocks. Further declines in US stocks could lead to global de-leverage.

Gold price today March 10, 2025 suddenly decreased, SJC fell below the 93 million VND mark . Gold price today March 10, 2025 SJC and rings turned to decrease, the 93 million VND/tael mark could no longer be maintained.