Gold price today 3/20/2025: World price skyrockets, domestic price exceeds 100 million VND/tael

On the morning of March 20, the domestic gold price skyrocketed, exceeding VND100 million/tael. Specifically, gold bars at Saigon Jewelry Company - SJC were bought at VND98.6 million/tael, sold at VND100.4 million, an increase of VND600,000 for buying and VND900,000 for selling. This is the highest price in the history of gold bars in Vietnam. Other gold and silver trading companies also sold gold bars at the same price as SJC.

Similarly, SJC's 4-number 9 gold ring, type 0.5 - 2, was bought at 98.6 million VND, sold at 100.43 million VND, an increase of 900,000 VND. Phu Nhuan Jewelry Company (PNJ) increased by 500,000 VND when buying gold rings at 98.6 million VND, sold at 100.4 million VND...

Gold price on the morning of March 20 increased rapidly, surpassing 100 million VND/tael

PHOTO: NGOC THANG

World gold prices soared to a new record of $3,054/ounce, up $20 compared to yesterday. The precious metal maintained its upward momentum after the US Federal Reserve (Fed) meeting. The Fed announced to keep interest rates unchanged at 4.25% - 4.5%, while officials flagged the prospect of rising inflation this year and lower economic growth prospects, following the tariff policy of the Donald Trump administration.

Despite the uncertainty over the impact of tariffs, along with President Donald Trump’s tax cuts and deregulation, Fed officials still expect another 0.5% rate cut this year. That would be two 0.25% cuts, the Fed’s usual rate of adjustment.

Following the statement, investors were pricing in a 62.1% chance that the Fed would cut rates again at its June meeting, up from a 57% chance before the Fed announced its decision. Gold is moving higher on uncertainty as the Fed sends mixed signals in its statement and economic forecasts, independent metals trader Tai Wong told CNBC.