Gold prices today, March 13, 2025, on the international market continued to increase as US inflation cooled down. SJC gold prices hit a new peak, while gold rings continuously reached unprecedented record highs.
As of 8:00 p.m. on March 12 (Vietnam time), the spot gold price today on the international market was at $2,920/ounce. Gold for April 2025 delivery on the Comex New York floor was at $2,925/ounce.
The world gold price on the night of March 12 was about 41.5% higher (857 USD/ounce) than at the beginning of 2024. The world gold price converted to the bank USD price was 91.1 million VND/tael, including taxes and fees, about 2.4 million VND/tael lower than the domestic gold price as of the end of the afternoon session on March 12.
Gold prices in the international market continue to climb as US inflation cools down. SJC gold prices hit a new peak, while gold rings continuously set new record highs.
Gold prices increased in the context of the US announcing on the evening of March 12 (Vietnam time) that the consumer price index (CPI) in February increased by 2.8% compared to the same period last year, lower than the forecast of 2.9% and the 3% in the January report. In February alone, the CPI increased by only 0.2% compared to the increase of 0.5% in January.
The producer price index report is due out on Thursday and is expected to rise 0.3% month-on-month, compared with a 0.4% increase in the January report.
Gold has been supported in recent days by a weakening US dollar as investors worry that trade wars will drag down the US economy. The two-day plunge in the US stock market has finally had a positive impact on gold.
In the session on March 12, the DXY index - measuring the fluctuations of the USD against a basket of 6 key currencies - decreased by 0.2% to 103.62 points.
Domestically, by the end of the trading session on March 12, the price of 9999 gold bars at SJC and Doji was listed at 91.8-93.5 million VND/tael (buy - sell), an increase of 800,000 VND for buying and 500,000 VND for selling compared to the previous session.
The price of gold rings also skyrocketed and set a new record. SJC announced the price of gold rings of type 1-5 at only 91.8-93.4 million VND/tael (buy - sell), an increase of 800,000 VND for buying and 600,000 VND for selling compared to the previous session. Doji listed the price of 9999 round gold rings at 92.6-94 million VND/tael (buy - sell), an increase of 500,000 VND in both directions compared to the previous session.
Gold Price Forecast
While gold did not rally sharply after the softening inflation data, some analysts believe it could rise quickly afterward. Slower consumer price growth could prompt the Federal Reserve to cut interest rates sooner than expected as recession fears continue to grow.
Lower-than-expected CPI suggests that inflationary pressures in the US are easing, which could raise expectations that the Fed will maintain or ease monetary policy in the near future. Low interest rates typically support gold prices because gold, a non-yielding asset, becomes more attractive as the opportunity cost decreases.
After the CPI data was released, the market adjusted expectations for a rate cut to 70-76 basis points between now and the end of the year.
On Kitco, expert Neils Christensen predicts that current inflation levels could push spot gold prices to $3,000/ounce.
However, the gold market is expected to be more affected by tariffs in the short term. Europe's retaliatory tariffs after the US imposed tariffs on steel and aluminum have investors worried about the risk of escalating trade tensions.
Investors are also awaiting a call between US President Donald Trump and Mr Putin to see how Russia will agree to a 30-day ceasefire between Russia and Ukraine. If geopolitical tensions in some regions ease, gold will have less momentum to rise.
Source: https://vietnamnet.vn/gia-vang-hom-nay-13-3-2025-leo-thang-sjc-va-vang-mieng-don-dap-lap-dinh-2380102.html
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