Gold price on March 21, 2025: World price slightly decreased, domestic price remained unchanged

DNVN - Although the world gold price decreased slightly, the domestic market remained stable on the morning of March 21.

At 9:00 a.m., Bao Tin Minh Chau Company still kept the listed price of gold bars and gold rings at 98.55 - 100.3 million VND/tael (buy - sell) compared to the previous session.

At Phu Nhuan Jewelry Joint Stock Company (PNJ), gold bars and gold rings are being traded at around VND98.1 - 99.9 million/tael, unchanged from yesterday's closing price.

DOJI Gold and Gemstone Group and Saigon Jewelry Company (SJC) continued to maintain the price of gold bars at 97.8 - 99.8 million VND/tael (buy - sell), no change compared to the previous session.

Particularly, gold rings at Saigon Jewelry Company SJC are at 97.7 - 99.7 million VND/tael (buy - sell), unchanged from yesterday.

In the international market, gold prices on March 20 recorded a decrease after reaching a historical high at the beginning of the session.

However, this precious metal is still expected to continue to rise thanks to the possibility of the US Federal Reserve (Fed) cutting interest rates, combined with global geopolitical and economic risks.

At the close of trading on the COMEX floor (USA), spot gold prices fell 0.3% to $3,038.79/ounce due to increased profit-taking pressure, after setting a record of $3,057.21/ounce earlier. Meanwhile, gold futures prices rose slightly by 0.1% to $3,043.80/ounce.

“Investors are taking advantage of the opportunity to take profits,” said Alex Ebkarian, CEO of Allegiance Gold. “Every time gold hits a new high, there is usually a little bit of resistance.”

He also said that gold has not yet become a safe haven for individual investors, as the US economy has not yet fallen into recession. However, slowing growth could increase concerns, thereby boosting demand for gold.

On March 19, Fed Chairman Jerome Powell said that President Donald Trump's trade policies, especially the increase in import taxes, may have negatively impacted US economic growth and pushed up inflation.

Meanwhile, Mr. Trump has criticized the Fed's decision to keep interest rates unchanged, even though the agency forecasts two 0.25 percentage point rate cuts by the end of the year due to slowing growth and inflationary pressures.

According to data from LSEG, markets are now pricing in at least two 0.25 percentage point rate cuts from the Fed, with the first expected to come in July 2025.

Citi analysts said in a report: "Our optimistic scenarios show that gold prices could reach $3,500/ounce by year-end, thanks to increased risk-off demand in the face of a sharp recession and stagnant inflation in the US."

Cao Thong (t/h)

Source: https://doanhnghiepvn.vn/kinh-te/gia-vang-ngay-21-3-2025-the-gioi-giam-nhe-trong-nuoc-di-ngang/20250321094446652