Domestic gold price "lost its brakes", profit-taking trend began, is gold the safest asset?

Gold price today March 22, 2025: Domestic gold price plummets. World gold price "strives to protect" the record threshold of 3,000 USD. Will the market have a necessary correction at this time? Some experts believe that fundamental factors are supporting the upward trend of gold prices.

1. PNJ - Updated: 01/01/1970 08:00 - Website time of supply source - ▼ / ▲ Compared to yesterday.
Type	Buy	Sell
HCMC - PNJ	96,000 ▼2100K	98,500 ▼1400K
HCMC - SJC	94,700 ▼3100K	97,700 ▼2100K
Hanoi - PNJ	96,000 ▼2100K	98,500 ▼1400K
Hanoi - SJC	94,700 ▼3100K	97,700 ▼2100K
Da Nang - PNJ	96,000 ▼2100K	98,500 ▼1400K
Da Nang - SJC	94,700 ▼3100K	97,700 ▼2100K
Western Region - PNJ	96,000 ▼2100K	98,500 ▼1400K
Western Region - SJC	94,700 ▼3100K	97,700 ▼2100K
Jewelry gold price - PNJ	96,000 ▼2100K	98,500 ▼1400K
Jewelry gold price - SJC	94,700 ▼3100K	97,700 ▼2100K
Jewelry gold price - Southeast	PNJ	96,000 ▼2100K
Jewelry gold price - SJC	94,700 ▼3100K	97,700 ▼2100K
Jewelry gold price - Jewelry gold price	PNJ 999.9 Plain Ring	96,000 ▼2100K
Jewelry gold price - Jewelry gold 999.9	95,900 ▼1500K	98,400 ▼1500K
Jewelry gold price - Jewelry gold 999	95,800 ▼1500K	98,300 ▼1500K
Jewelry gold price - Jewelry gold 99	95,020 ▼1480K	97,520 ▼1480K
Jewelry gold price - 916 gold (22K)	87,730 ▼1380K	90,230 ▼1380K
Jewelry gold price - 750 gold (18K)	71,450 ▼1130K	73,950 ▼1130K
Jewelry gold price - 680 gold (16.3K)	64,560 ▼1020K	67,060 ▼1020K
Jewelry gold price - 650 gold (15.6K)	61,610 ▼980K	64,110 ▼980K
Jewelry gold price - 610 gold (14.6K)	57,670 ▼920K	60,170 ▼920K
Jewelry gold price - 585 gold (14K)	55,210 ▼880K	57,710 ▼880K
Jewelry gold price - 416 gold (10K)	38,580 ▼630K	41,080 ▼630K
Jewelry gold price - 375 gold (9K)	34,550 ▼560K	37,050 ▼560K
Jewelry gold price - 333 gold (8K)	30,120 ▼500K	32,620 ▼500K

Update gold price today 3/22/2025

Domestic gold price dropped more than 3 million VND to 97 million VND/tael.

On the afternoon of March 21, domestic precious metal trading units continuously adjusted the price list of SJC gold bars and gold rings, especially in the buying direction, causing the gap between buying and selling prices to widen. The price of SJC gold bars fell to 97 million VND/tael, and gold rings fell to 98 million VND/tael.

Observing on the streets with many large gold and silver shops, different from the scene of people lining up to buy each tael of gold like yesterday, on the afternoon of March 21, the number of people bringing gold to sell increased dramatically, in which the rate of people coming to sell to make a profit was quite high. According to the shop, out of 10 people coming to trade, 7 people bring gold to sell. The gold shops do not limit the quantity like the previous days but let customers buy freely.

Saigon Jewelry Company (SJC) after 4 times of adjustment, the price of SJC gold bars decreased to 94.8 - 97.7 million VND/tael , the difference between buying and selling increased to 3 million VND/tael. Thus, compared to the peak set this morning, each tael of gold bar has now decreased by more than 2.7 - 3.9 million VND.

The price of 9999 round smooth gold rings was reduced by SJC to 94.6 - 97.1 million VND/tael; Doji to 95.2 - 98.5 million VND/tael; PNJ to 96 - 98.5 million VND/tael; Bao Tin Minh Chau traded at 96 - 98.6 million VND/tael.

Thus, since the beginning of the year, the price of gold rings has increased by 19% and the price of SJC gold bars has accumulated by 18.5%. Gold has become the asset with the highest profitability compared to stocks (VNIndex 4.6%), savings (5.5-6%) and even cryptocurrencies (Bitcoin -7%).

This fact has shown that gold is still "traditionally" considered a "safe haven" in times of instability. For example, during the 2008 financial crisis, the precious metal increased sharply from about $800 an ounce at the beginning of the year to more than $1,900 in 2011. Similarly, when the Covid-19 pandemic broke out in 2020, the price of gold also peaked at nearly $2,070 due to massive money flows to safe-haven assets.

However, in response to the above viewpoint, some experts say that one should not mistakenly assume that investing in gold is definitely safe. History shows that gold prices can fluctuate very strongly. In the period 2011-2015, the precious metal plummeted more than 40%, from a peak of $1,900 to below $1,100. Or from 1980 to 2000, the price of gold remained almost flat around $300-400 an ounce, causing investors who held it for a long time to suffer a huge opportunity cost. Therefore, gold can be a safe haven asset during geopolitical fluctuations and macroeconomic instability. However, when the economy stabilizes, the precious metal becomes an unprofitable asset, even falling sharply in price.

Converted to the USD exchange rate at Vietcombank, the world gold price is equivalent to 94.1 million VND per tael. Accordingly, the difference between the two markets from 5 million VND yesterday narrowed to 3.5 million VND per tael.

World gold prices are "defending" a new record.

According to the World and Vietnam records at 4:35 p.m. on March 22 (Hanoi time) on the Kitco electronic trading floor, the world spot gold price decreased by 13.9 USD compared to the previous trading session, trading at 3,031.30 USD/ounce.

Gold prices hit a new record high after comments from Federal Reserve Chairman Jerome Powell, according to Tai Wong, an independent metals trader in New York. After the recent policy meeting, the Fed kept interest rates unchanged, as expected by the market, at 4.25-4.5%. The Fed also said it still plans to cut interest rates by a total of 50 basis points (0.5%) this year.

The Fed raised its inflation forecast for this year and lowered its economic growth expectations after President Donald Trump imposed a series of import tariffs. Precious metals are always more attractive in a low-interest-rate environment, especially when uncertainty increases.

In their official statement, Fed officials predicted slower economic growth and rising inflation, highlighting concerns about the Trump administration’s approach to trade. They described the policies as “ambitious and often erratic,” concluding that they had put both the economy and the Fed’s ability to maintain stability “under increasing pressure.”

Trader Tai Wong predicted that, "gold is in a bull market after breaking above $3,000 and will continue to do so due to increased uncertainty and inflation concerns. Investors think they should just buy gold no matter what."

Meanwhile, the latest economic data from the US economy had little impact on gold, as the market continued to experience modest profit-taking after hitting a new record high above $3,050/ounce.

Financial market analyst Kyle Rodda at Capital.com said that gold prices could fall to around $3,000/ounce before continuing to rise, and this is a necessary adjustment to create further upward momentum.

Capital.com financial market analyst Kyle Rodda said all the fundamentals are supporting gold's bullish trend.

Gold price today March 22, 2025: Domestic gold price 'lost its brakes', profit-taking trend begins, is gold still the safest asset? (Source: Kitco)

Summary of SJC gold bar prices and 9999 gold ring prices at major domestic trading brands at the closing time of the trading session on March 21:

Saigon Jewelry Company SJC: SJC gold bars 94.8 - 97.7 million VND/tael; SJC gold rings 94.6 - 97.1 million VND/tael.

DOJI Group: SJC gold bars 94.8 - 97.7 million VND/tael; 9999 round rings (Hung Thinh Vuong) 95.2 - 98.5 million VND/tael.

PNJ system: SJC gold bars 94.8 - 97.7 million VND/tael; PNJ 999.9 smooth round gold rings at 96 - 98.5 million VND/tael.

SJC gold price at Bao Tin Minh Chau is listed at 94.8 - 97.7 million VND/tael; round gold ring price is 96 - 98.6 million VND/tael.

A profit taking and only recovery if this happens?

Gold futures on the international exchange just experienced a volatile trading session, initially soaring to a new record high before falling due to profit-taking, only to recover most of those losses by the end of the trading session.

Gold futures for April opened at $3,058.00 an ounce and quickly rose to $3,065.20 an ounce in the first hour of trading, setting a new record high. However, the precious metal's rally soon reversed as traders took advantage of the rally to secure profits.

As a result, over the next 6 hours, the price steadily dropped to an intraday low of $3,032.80 before recovering and stabilizing at $3,043.80, representing a modest gain of $2.60 on the session.

“Speculators are trying to take advantage of the market and make a profit,” explains Alex Ebkarian, CEO at Allegiance Gold.

“I think whenever gold tops out, we’re going to see a little bit of resistance,” Ebkarian noted, noting that gold has yet to fully play its traditional role as a safe haven: “Gold hasn’t even played a safe haven role for retail investors because we’re not technically in a recession. We’re just seeing a slowdown in the economy, and that’s likely to create more uncertainty and more desire for safe havens like gold.”

Some traders believe that gold prices fell after a record rally and only recovered when traders bought on dips.

Source: https://baoquocte.vn/gia-vang-hom-nay-2232025-gia-vang-trong-nuoc-mat-phanh-xu-huong-chot-loi-bat-dau-vang-co-la-tai-san-an-toan-nhat-308393.html