As of 6:30 p.m. on March 19 (Vietnam time), the spot gold price today on the international market was at $3,036/ounce. Gold for April 2025 delivery on the Comex New York floor was at $2,938/ounce.

The world gold price on the night of March 19 was about 47.1% higher (973 USD/ounce) than at the beginning of 2024. The world gold price converted to the bank USD price was 95 million VND/tael, including taxes and fees, about 3.2 million VND/tael lower than the domestic gold price as of the end of the afternoon session on March 19.

Gold prices have skyrocketed as the world struggles with the storm of Donald Trump's tax policies and rising tensions in the Middle East. Gold prices have also increased as investors bet on the possibility that the US Federal Reserve (Fed) and other central banks may cut interest rates at policy meetings this week.

The Fed previously decided to keep interest rates unchanged at its first meeting of the year after making three rate cuts in 2024.

In fact, the market is still leaning towards the possibility of the Fed cutting interest rates at the June meeting. However, any easing signal from Fed officials will cause the USD to decline and gold prices to increase. Gold could rise sharply if the Fed unexpectedly cuts interest rates.

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Gold prices rise to new highs. Photo: HH

In the session on March 19, the DXY index (measuring the USD's fluctuations against a basket of six major currencies) remained at 103.6 points, but was still much lower than the 110 points in mid-January.

Domestically, gold prices also increased due to a sharp increase in the central exchange rate. On March 19, the State Bank announced the central exchange rate at 24,793 VND, an increase of 35 VND compared to the previous one.

By the end of the trading session on March 19, the price of 9999 gold bars at SJC and Doji was listed at 98-99.5 million VND/tael (buy - sell), an increase of 1.3 million VND in both buying and 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 97.9-99.4 million VND/tael (buy - sell), an increase of 1.3 million VND in both directions. Doji listed the price of 9999 round gold rings at 98.3-99.9 million VND/tael (buy - sell), an increase of 1.1 million VND in the buying direction and 1.2 million VND in the selling direction compared to the previous session.

Gold Price Forecast

Despite continuously setting new peaks, gold prices are still forecast to continue to increase because the world is in a period of economic and political instability. Conflicts in relations between countries are increasing.

Major institutions have raised their gold price forecasts. UBS and ANZ banks have raised their gold price targets to $3,200 an ounce amid rising demand for bullion due to geopolitical tensions, tariffs and interest rate cuts.

Gold is a defensive asset and benefits from geopolitical and trade tensions, and renewed expectations of US interest rate cuts due to growth concerns.

U.S. Treasury Secretary Scott Bessent described the current economic pressures as an economic “transformation” in an interview on Sunday, but did not rule out the possibility of a recession.

On the geopolitical front, the Trump administration over the weekend escalated military strikes on Houthi forces in Yemen in response to their attacks on international shipping lanes.

UBS noted that flows into gold exchange-traded funds (ETFs) have accelerated in recent weeks, largely due to “investors seeking defensive assets amid heightened uncertainty, continued central bank demand and uncertainty over the Fed outlook.”

Gold price today March 18, 2025 broke all records, rings skyrocketed to nearly 99 million . Gold price today March 18, 2025 in the country increased continuously, more than 2 million VND more expensive per tael, following the strong increase in world gold price. SJC gold bars for the first time exceeded 98 million VND/tael, plain rings reached a record high of 98.7 million VND.