Gold price on March 12, 2025: Domestic gold increased sharply

DNVN - Domestic gold prices increased on the morning of March 12 following the trend of the world market.

At 9:15 a.m., Saigon Jewelry Company (SJC) announced the price of gold rings at 91 - 92.9 million VND/tael (buy - sell), an increase of 600,000 VND/tael for buying and an increase of 300,000 VND/tael for selling compared to the closing price yesterday.

Bao Tin Minh Chau Company also adjusted the price of gold bars and gold rings to 92.3 - 93.8 million VND/tael (buy - sell), an increase of 400,000 VND/tael for buying and an increase of 300,000 VND/tael for selling compared to the previous day.

Meanwhile, Saigon Jewelry Company (SJC) continued to update the price of gold rings at 91 - 92.9 million VND/tael (buy - sell), recording an increase of 100,000 VND/tael in both trading directions compared to the previous session.

In the international market, gold prices on March 11 recorded a 1% increase as the USD weakened.

Concerns about the risk of an economic recession due to trade tensions continue to weigh on investor sentiment, with financial experts awaiting inflation data to better determine the direction of interest rates in the US in the coming time.

At 0:16 a.m. on March 12, Vietnam time, spot gold price increased by 1% to 2,917.79 USD/ounce, while US gold futures increased by 0.7% to 2,920.90 USD/ounce.

The dollar index fell to its lowest level since mid-October 2024. As the greenback weakens, gold, an asset traded in dollars, becomes more attractive to investors holding other currencies.

“Gold could continue to find support amid market volatility, which could boost demand for safe-haven assets,” said Zain Vawda, an analyst at MarketPulse at OANDA. “However, if the negotiations between Russia and Ukraine progress positively, gold prices could face correction pressure.”

Tariffs imposed by US President Donald Trump on key trading partners have created major volatility in global markets and raised concerns about economic growth.

As an asset seen as a hedge against economic volatility, gold tends to increase in value in low interest rate conditions because it does not generate fixed income.

Cao Thong (t/h)

Source: https://doanhnghiepvn.vn/kinh-te/gia-vang-ngay-12-3-2025-vang-trong-nuoc-tang-manh/20250312110930297