Gold price on Kitco floor at 9:00 p.m. (March 6, Vietnam time) was trading at 2,909.3 USD/ounce, down 0.4% compared to the beginning of the session. Gold futures price for April 2025 delivery on Comex New York floor was trading at 2,940.5 USD/ounce.

At the beginning of the trading session on March 6 (US time), the world gold price fell sharply due to profit-taking pressure. Analysts said that the risk-off sentiment increased again, amid concerns that a tit-for-tat tariff war between major countries could push the global economy into recession.

After the US imposed a 25% tariff on imports from Mexico and Canada, and doubled tariffs on Chinese goods to 20%, Mr. Trump said he would impose additional new tariffs from April 2, including reciprocal tariffs and non-tariff measures to balance trade after years of imbalance.

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Profit-taking psychology, world gold price plummets. Photo: NH

Concerns about the White House's tariff measures have pushed the safe-haven metal to a record high 11 times this year, peaking at $2,956.15 an ounce on February 24 and posting an overall gain of 11% since the beginning of the year.

Currently, the market is still waiting for US payroll data to be released later this week for more details on the US Federal Reserve's (Fed) monetary policy.

Peter Grant, vice president and senior metals strategist at Zaner Metals, said demand is slowing as investors turn cautious ahead of the jobs data.

In the domestic market, the price of SJC gold bars and plain rings remained the same as yesterday's closing price. At the end of the session on March 6, the price of 9999 gold bars at SJC and Doji was VND90.7 million/tael (buy) and VND92.7 million/tael (sell).

Meanwhile, SJC announced the price of gold rings of type 1-5 at only 90.7-92.6 million VND/tael (buy - sell). Doji listed the price of 9999 smooth round gold rings at 91.4-93 million VND/tael (buy - sell), down 300,000 VND per tael for buying and unchanged for selling.

Gold Price Forecast

Ross Norman, an independent analyst, said that economic uncertainty is a key factor for gold prices, so the price trend is still likely to increase. After the recent price increase, gold is said to be in a consolidation phase and aiming for the target of $ 3,000 / ounce.

Many forecasts say that if the USD continues to weaken, the world gold price may fluctuate around 2,880-2,920 USD/ounce. If political instability increases, the gold price may reach 2,950 USD/ounce.

On the contrary, if the USD recovers or the Fed signals an interest rate hike, the world gold price may fall to 2,850-2,860 USD/ounce.

Gold is struggling, especially in Europe, as investors flock to the stock market as EU countries increase their defense budgets and military spending, according to some analysts.

Analysts at the Heraeus financial group said that the gold price increase will continue in the coming days if investors and people continue to buy for safe haven.

Gold price today March 6, 2025 skyrocketed over 93 million, plain rings continuously broke the peak . Gold price today March 6, 2025 on the international market increased strongly again after the plunge last night. SJC gold bar price jumped to 93 million VND/tael, plain rings set a new record of 93.3 million VND.