Gold price on March 29, 2025: Continues to increase strongly, approaching 101 million VND/tael

Illustration photo. Photo: Internet

At the beginning of this morning's trading session, gold rings at Bao Tin Minh Chau were listed at 98.9 - 100.9 million VND/tael (buy - sell), an increase of 300,000 VND/tael in both directions compared to the price at the end of yesterday.

At DOJI Gold and Gemstone Group Joint Stock Company, plain round gold rings are currently trading at around VND98.4 - 100.7 million/tael (buy - sell). Meanwhile, at Phu Quy Gold Investment Joint Stock Company, gold rings are at VND98.7 - 100.7 million/tael (buy - sell).

At Saigon Jewelry Company Limited (SJC), the price of SJC gold bars is listed at 98.4 - 100.7 million VND/tael (buy - sell), with an increase of 200,000 VND/tael for buying and 500,000 VND/tael for selling compared to yesterday's closing session.

The gap between buying and selling prices for gold rings is currently quite high, up to more than 2 million VND/tael, increasing the risk of loss for buyers in the short term.

Domestic gold prices rose this morning following the strong recovery of the world gold market. During the morning trading session on March 29 (Vietnam time), the world gold price reached 3,086 USD/ounce. When converted according to Vietcombank exchange rate, each tael of world gold is currently priced at about 95.9 million VND/tael.

Currently, domestic gold prices remain about 5 million VND/tael higher than world gold prices.

According to financial and banking experts, the domestic gold market is closely following the fluctuations of world gold prices. The strong increase in gold prices continues as investors rush to seek safe havens amid concerns about the impact of new tariff policies proposed by US President Donald Trump, which could spark a global trade war.

Meanwhile, the March 28 report on the US personal consumption expenditure index showed higher-than-expected inflation. Specifically, the personal consumption expenditure price index in February increased by 0.4%, equivalent to the increase in the previous month. However, experts said that this increase was not significant enough to change expectations of interest rate cuts.

The US Federal Reserve (Fed) has kept interest rates unchanged this year after three cuts in 2024, but also hinted at the possibility of another 0.5% rate cut later in the year. The market now expects the Fed's first rate cut this year to come in July, a factor that has contributed to the upward movement in gold prices.

Experts recommend that people who intend to buy gold during this period should closely observe market developments before making a decision, because the difference between buying and selling prices is still high, creating additional risks for buyers. At the same time, when the demand for gold increases sharply but the supply is limited, the risk of fraud and selling fake gold for profit may also occur.

Cao Thong (t/h)

Source: https://doanhnghiepvn.vn/kinh-te/gia-vang-ngay-29-3-2025-tiep-tuc-tang-manh-tiem-can-101-trieu-dong-luong/20250329102730547