DNVN - On March 6, 2025, the price of SJC gold remained stable, while the price of gold rings of various brands continued to increase, approaching 93 million VND/tael.
Gold rings maintain upward momentum
The price of gold bars at most brands has not fluctuated much. At present, the buying price of gold brands is at 90.7 million VND/tael, while the selling price is 92.7 million VND/tael. In particular, the two brands Bao Tin Minh Chau and Phu Quy SJC have buying prices 200,000 VND higher than the remaining brands.
In addition, the price of gold rings of other brands continues to increase, reaching 93 million VND/tael. Specifically, in the Hanoi and Ho Chi Minh City markets, DOJI has adjusted the buying price up by 100,000 VND and the selling price up by 300,000 VND, currently listed at 91.7 million VND/tael for buying and 93 million VND/tael for selling.
SJC 9999 ring gold is currently anchored at 90.7 million VND/tael for buying price, while the selling price is at 92.6 million VND/tael.
Meanwhile, PNJ brand also adjusted the price of gold rings, with the buying and selling prices being 91.7 million VND/tael and 92.9 million VND/tael respectively, recording an increase of 200,000 VND compared to before.
The price of Bao Tin Minh Chau's plain round gold ring is currently trading at 92 million VND/tael for buying and 93.2 million VND/tael for selling, 400,000 VND higher than yesterday morning.
Phu Quy SJC brand is purchasing gold rings at 91.6 million VND/tael, while the selling price is 93 million VND/tael, an increase of 300,000 VND in selling price.
World gold market developments
According to Kitco, at 5 a.m. this morning, Vietnam time, the spot gold price on the international market recorded 2,917.97 USD/ounce, up 1.06% compared to the previous trading session. When converted according to the free USD exchange rate (25,789 VND/USD), the world gold price is currently about 90.7 million VND/tael, excluding taxes and fees. Thus, the price of SJC gold bars is about 2 million VND/tael higher than the world gold price.
Gold prices were little changed despite a weaker US dollar, as investors remained cautious ahead of US payroll data due out later in the week, Reuters reported.
Spot gold was down 0.1% at $2,913.79 an ounce at 10:04 a.m. ET (1504 GMT). U.S. gold futures were up 0.1% at $2,923.70 an ounce. Bullion was down on the day despite the dollar (.DXY) falling more than 1% to a four-month low.
"There's still buying demand right now... there will be some caution ahead of (payrolls data) on Friday, but the underlying trend remains favorable," said Peter Grant, vice president and senior metals strategist at Zaner Metals.
Concerns over US President Donald Trump’s tariff policies have sent gold prices soaring to record highs this year, hitting 11 all-time highs. The most recent peak was set on February 24 at $2,956.15 an ounce, bringing the total increase for the year to 11%.
In his address to Congress on Tuesday evening, Trump announced that additional tariffs would take effect on April 2, including “reciprocal tariffs” and a range of non-tariff actions aimed at redressing persistent trade imbalances. The move comes after new 25% tariffs on most goods from Mexico and Canada went into effect on Tuesday. Tariffs on Chinese goods were also doubled to 20%.
The ADP national employment report showed that the number of private sector jobs in the US increased by only 77,000 in February, much lower than the forecast of 140,000 jobs.
Economists polled by Reuters forecast U.S. nonfarm payrolls in February could increase by 160,000 jobs when official data is released on Friday.
“If the number is really bad, I think gold will sell off,” said Daniel Pavilonis, senior market strategist at RJO Futures. “If it’s neutral, I don’t think that will change much. But if it’s bullish, then gold will skyrocket and we’ll get to $3,000 or higher very quickly.”
In other precious metals, spot silver rose 1.2% to $32.36 an ounce, while palladium edged down 0.4% to $938.22. Platinum edged up 0.5% to $965.45 an ounce.
Cao Thong (t/h)
Source: https://doanhnghiepvn.vn/kinh-te/gia-vang-ngay-6-3-2025-vang-nhan-tiep-tuc-tang/20250306084124740
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