World gold price breaks the peak of 3,000 USD/ounce, the highest ever

After many failures in conquering the threshold of 3,000 USD/ounce, at the end of today, March 14, the world gold price surpassed this threshold for the first time.

For the first time, the world gold price exceeded the threshold of 3,000 USD/ounce.

Gold prices skyrocket

From around 2,982 USD/ounce, at the end of today, the world gold price skyrocketed to over 3,004 USD/ounce - also a historical peak.

However, after reaching the peak, the world gold price evaporated nearly 20 USD/ounce, down to 2,987 USD/ounce. Then the gold price recovered to near the threshold of 3,000 USD/ounce at 8:00 p.m. today.

Thus, just this week, the world gold price has increased by 120 USD/ounce, equivalent to 3.72 million VND/tael. If calculated from the beginning of 2025 until now, the world gold price has increased by 400 USD/ounce (12.4 million VND/tael).

World gold prices increased sharply due to hedging demand as US President Donald Trump's tariff moves continued to be unpredictable and caused great uncertainty.

Data released by the People's Bank of China (PBOC) over the weekend showed that the country bought an additional 5 tons of gold reserves in February, bringing its reserves to 2,289 tons of gold.

This is the fourth consecutive month of net gold purchases by the PBOC, after China returned to net gold purchases for reserves in November last year after a six-month pause.

Besides, there are still some factors supporting the recovery of world gold prices, which is the depreciation trend of the USD.

In two days, the price of gold rings increased by a total of 2.5 million VND/tael.

Gold ring prices have skyrocketed in recent days - Photo: NGOC PHUONG

The selling price of gold rings at Bao Tin Minh Chau Company at the end of today, March 14, increased by 1.5 million VND/tael, reaching a historical peak: 96.5 million VND/tael.

Thus, in just 2 days, the selling price of gold rings at Bao Tin Minh Chau Company increased by 2.5 million VND/tael.

At 2,999.7 USD/ounce, the converted world gold price is equivalent to 92.98 million VND/tael.

Domestic gold prices also "feverishly" follow world gold prices with an increase of millions of dong each day in both buying and selling directions.

At Bao Tin Minh Chau Company, the buying price of gold rings also increased from 93.4 million VND/tael to 94.95 million VND/tael.

SJC Company increased the price of gold rings by 1.3 million VND/tael, bringing the selling price of gold rings from 94.4 million VND/tael to 95.7 million VND/tael, the buying price jumped to 94.2 million VND/tael.

Meanwhile, the buying and selling price of SJC gold bars is 100,000 VND/tael higher than the selling price of gold rings.

At PNJ Company, the selling price of gold rings jumped to 96.2 million VND/tael, an increase of 1.4 million VND/tael compared to March 13. The buying price also increased sharply to 94.5 million VND/tael.

Compared to the converted world gold price, the price of gold rings is 3.22 - 3.52 million VND/tael higher.

According to expert Tran Duy Phuong, after breaking the $3,000/ounce mark, world gold prices will face strong downward pressure as investors sell to take profits, but it is likely that after the decline, world gold prices will increase again.

Please follow the domestic gold price developments here.

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Source: https://tuoitre.vn/gia-vang-the-gioi-pha-dinh-3-000-usd-ounce-cao-nhat-tu-truoc-den-nay-20250314200411571.htm