DNVN - On the morning of March 17, domestic gold prices continued to increase following developments in the world market.
At 9:15 a.m., DOJI Gold and Gemstone Group and Saigon Jewelry Company (SJC) announced the price of gold bars ranging from VND94.8 - 96.1 million/tael. Compared to the previous trading session, this price recorded an increase of VND500,000/tael for buying and VND300,000/tael for selling.
Bao Tin Minh Chau Company adjusted the price of gold bars and gold rings to 95 - 96.6 million VND/tael (buy - sell), 50,000 VND/tael higher for buying and 100,000 VND/tael higher for selling compared to the previous session.
At the same time, Saigon Jewelry Company (SJC) listed the price of gold rings at 94.7 - 96 million VND/tael (buy - sell), up 500,000 VND/tael and 300,000 VND/tael respectively compared to the end of March 16.
In the world market, gold has approached the threshold of 3,000 USD/ounce. In the trading session on March 14, gold prices in Asia reached a new peak due to the impact of unpredictable developments in US tariff policies, global trade tensions and increasing expectations of monetary easing by the US Federal Reserve (Fed).
Experts say a shortage of physical gold supply could be a factor driving the current price increase.
Closely following the developments of the international gold market, Expert Truong Vi Tuan from Giavang.net said that Mr. Greg Frith - Director of Precious Metals Trading and Trading in North America and EMEA at StoneX Group - revealed that in the period from December to now, more than 2,000 tons of physical gold have been transferred from London to New York.
The main reason for this wave of shipments comes from Comex futures traders hoarding physical gold to minimize risks in the face of the possibility that the Trump administration may impose tariffs on the precious metal.
“No one really knows whether gold will be taxed. In theory, gold is a monetary asset and is not taxed in the US. But with the Trump administration’s volatile tariff policy, anything is possible,” Mr. Frith warned.
Mr. Truong Vi Tuan further analyzed that the US's large gold imports have put pressure on refineries, and at the same time caused gold reserves in London to decline significantly. Data from the London Bullion Market Association (LBMA) shows that the amount of gold stored in London gold vaults has decreased continuously in the past three months, with January alone down 1.7% compared to December. This could lead to a shortage of gold in London, forcing traders to seek supplies from other markets to transfer to Europe, increasing volatility in the precious metals market.
In the coming time, if trade tensions and tariff policies show no signs of cooling down, gold prices may continue their upward trend, pushing the precious metal market into the focus of global investors, according to expert Truong Vi Tuan.
Cao Thong (t/h)
Source: https://doanhnghiepvn.vn/kinh-te/gia-vang-sang-17-3-2025-tang-500-000-dong-luong-o-chieu-mua-vao/20250317105205257
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