Gold price on March 20, 2025: Gold continues to set new records after the Fed's decision to keep interest rates unchanged

DNVN - In the international market, gold prices recorded a sudden increase to the peak in the trading session on March 19, right after the speech of the Chairman of the US Federal Reserve (Fed) Jerome Powell and the decision to maintain interest rates as predicted. Domestic gold prices continued to climb to a historical high on the morning of March 20, reaching 100.9 million VND/tael.

Specifically, at 9:10 a.m., Bao Tin Minh Chau Company listed the price of gold bars and gold rings at 99.25 - 100.9 million VND/tael (buy - sell), an increase of 900,000 VND/tael in both directions compared to the previous trading session.

Meanwhile, Saigon Jewelry Company (SJC) listed the price of gold rings at 98.4 - 100.3 million VND/tael (buy - sell), an increase of 600,000 VND/tael for buying and an increase of 1 million VND/tael for selling compared to the closing price yesterday.

Phu Nhuan Jewelry Joint Stock Company (PNJ) adjusted the price of gold bars to 98.6 - 100.4 million VND/tael, with an increase of 700,000 VND/tael for buying and 800,000 VND/tael for selling compared to the previous trading session.

DOJI Gold and Gemstone Group and Saigon Jewelry Company both listed gold bar prices at VND98.6 - 100.4 million/tael (buy - sell), recording an increase of VND600,000/tael for buying and VND900,000/tael for selling compared to the previous trading session.

Gold prices in the international market reached a record high in the session of March 19, after the speech of Fed Chairman Jerome Powell and the decision to keep interest rates unchanged as expected. However, the Fed also left open the possibility of cutting interest rates by 0.5 percentage points later this year.

Spot gold rose 0.5% to $3,047.80 an ounce at 2:57 a.m. (Vietnam time), after hitting a peak of $3,051.99 an ounce earlier in the session. US gold futures were little changed, remaining at $3,041.20 an ounce.

Gold hit a new record high after the Fed meeting amid a rally in both stocks and bonds, said independent metals trader Tai Wong. He added that the uptrend in gold prices remains strong after breaking above $3,000 an ounce and could continue to break higher due to uncertainty and concerns about rising inflation. The market is currently witnessing a rush to buy gold.

The US Federal Reserve kept its benchmark interest rate at a range of 4.25% to 4.50%. Fed officials revised up their inflation forecasts for this year and lowered their economic growth forecasts after the US imposed new tariffs.

Fed Chairman Powell said on March 19 that the process of controlling inflation could become more difficult and occur at a slower pace this year, due to the impact of the new US tariff policy.

US President Donald Trump has decided to raise import tariffs on steel and aluminum to 25%, effective from last week, and announced that he will apply additional tariffs on a number of industries from April 2.

Gold is still considered a safe haven in times of inflation or economic uncertainty, and prices have risen more than 15% so far this year. Traders now see a 66% chance of the Fed cutting rates at its June 2025 meeting, up from a previous forecast of 57%. Low interest rates make gold more attractive as a non-yielding asset.

Cao Thong (t/h)

Source: https://doanhnghiepvn.vn/kinh-te/gia-vang-ngay-20-3-2025-vang-tiep-tuc-xac-lap-muc-ky-luc-moi-sau-quyet-dinh-giu-nguyen-lai-suat-cua-fed/20250320101302381