World gold price hits new peak for the 17th time since early 2025

Gold jewelry on display at a jewelry store in Seoul, South Korea. (Photo: Yonhap/VNA)

Gold prices rose to a new high on March 27 as investors sought safe-haven assets amid escalating global trade tensions and a plunge in stock markets.

At around 0:40 a.m. on March 28, Vietnam time, the spot gold price increased by 1% to $3,050.32/ounce, after reaching a record high of $3,059.30/ounce in the same session. The gold price has set a record high 17 times since the beginning of 2025.

US gold futures rose 1.3% to close at $3,061 an ounce, after hitting an all-time high of $3,071.30 an ounce earlier in the session.

Bob Haberkorn, senior market strategist at RJO Futures, said the market is likely to see gold futures hit $3,100 an ounce soon, with safe-haven buying fueled by uncertainty surrounding President Donald Trump’s tariff plans.

Countries including Canada and France have warned of retaliation after Mr Trump announced a 25% tariff on imported cars, set to take effect a day after he plans to announce reciprocal tariffs targeting countries he says are largely responsible for the US trade deficit.

Global stock markets fell as shares of some of the world's biggest automakers plunged.

Gold prices are also getting support from strong central bank inflows and demand from exchange-traded funds (ETFs), said Phillip Streible, chief market strategist at commodities trading firm Blue Line Futures.

Investors are now waiting for the US Personal Consumption Expenditure (PCE) data, due on March 28, to assess the path of further interest rate cuts, following the US Federal Reserve's decision to keep its benchmark interest rate unchanged last week.

Gold is widely seen as a hedge against economic and political uncertainty, and tends to appreciate in a low interest rate environment.

On March 26, Goldman Sachs raised its forecast for world gold prices by the end of 2025 to $3,300/ounce from $3,100/ounce, citing stronger-than-expected inflows into ETFs and sustained demand from central banks.

In other precious metals, spot silver rose 1.7% to $34.27 an ounce, after hitting its highest since October 2024 earlier in the session. Platinum rose 0.7% to $981 an ounce and palladium rose 0.3% to $971.25 an ounce.

In the Vietnamese market, in the early morning of March 28, DOJI Gold and Gemstone Group and Saigon Jewelry Company SJC listed the price of gold bars at 97.20-98.70 million VND/tael (buy-sell)./.

According to VNA

Source: https://baothanhhoa.vn/gia-vang-the-gioi-lap-muc-dinh-moi-lan-thu-17-ke-tu-dau-nam-2025-243787.htm