Gold price today March 1, 2025: World and domestic gold prices continuously decreased to the bottom of the week

Domestic gold price today March 1, 2025

At the time of survey at 4:30 a.m. on March 1, 2025, the gold price on the trading floors of some companies was as follows:

DOJI listed the price of 9999 gold today at 88.5 million VND/tael for buying and 90.5 million VND/tael for selling. Today's gold price decreased by 400 thousand VND/tael for buying - decreased by 700 thousand VND/tael for selling compared to yesterday.

At Mi Hong Jewelry Company, the price of Mi Hong gold at the time of survey was listed at 90.4-91 million VND/tael for buying and selling. Compared to yesterday, the gold price decreased by 200 thousand VND/tael for buying and decreased by 500 thousand VND/tael for selling compared to yesterday.

SJC gold price at Bao Tin Minh Chau Company Limited was traded by businesses at 88.8-90.5 million VND/tael (buying - selling), down 400 thousand VND/tael in buying - down 700 thousand VND/tael in selling compared to yesterday.

SJC gold price at Phu Quy is traded by businesses at 88.8-90.5 million VND/tael (buy - sell), down 400 thousand VND/tael in buying - down 700 thousand VND/tael in selling compared to yesterday.

The latest gold price list today, March 1, 2025 is as follows:

World gold price today March 1, 2025 and world gold price fluctuation chart in the past 24 hours

According to Kitco, the world gold price recorded at 4:00 am today, Vietnam time, was 2,846.31 USD/ounce. Today's gold price decreased by 43.55 USD/ounce compared to yesterday. Converted according to the USD exchange rate, on the free market (25,770 VND/USD), the world gold price is about 86.39 million VND/tael (excluding taxes and fees). Thus, the price of SJC gold bars is 4.11 million VND/tael higher than the international gold price.

World gold prices fell sharply in a row, marking the first week of decline after 9 consecutive weeks of increase. The main reason is the increase in the USD price and the market is waiting for inflation data to be announced later in the day (March 1, Vietnam time), which can help clarify the direction of monetary policy from the US Federal Reserve (Fed).

The US dollar has strengthened this week, making gold more expensive for foreign investors. 'Gold's correction has accelerated as market volatility has forced leveraged funds to reduce risk,' said Ole Hansen, commodity strategist at Saxo Bank.

In the stock market, technology stocks were hit hard by a sell-off in Nvidia - considered a star in the field of artificial intelligence (AI) - and other large stocks in the group of 'Magnificent Seven' (7 leading US technology stocks) after Nvidia's earnings report.

Despite posting a weekly loss, gold - considered a safe-haven asset - is still on track for its second consecutive monthly gain in February, thanks to nine new records this month.

In another development, former US President Donald Trump said his plan to impose a 25% tariff on goods from Mexico and Canada would take effect from March 4, along with an additional 10% tariff on imports from China.

Investors are looking ahead to the Personal Consumption Expenditures (PCE) data for further analysis on whether the Fed will continue its rate-cutting cycle. 'The PCE index - the Fed's preferred inflation measure - is expected to show slower growth than the same period last year, which could fuel expectations for a rate cut, especially given the weakening US economic data,' Hansen said.

High interest rates generally reduce the appeal of gold because it is a non-yielding asset.

In the physical market, demand for gold in India picked up slightly in the second half of the week but remained below normal levels, while traders in China continued to offer gold at discounts.

Other precious metals also fell. Silver fell 0.3% to $31.17 an ounce, platinum fell 0.4% to $945.40, and palladium fell 0.4% to $915.97. All three metals were down in February.

Gold price forecast

Expert Tran Duy Phuong commented that domestic gold prices often fluctuate slower than world gold prices. Therefore, if world gold prices continue to fall, domestic gold prices may also fall sharply next week.

Currently, the world gold price is in a downward trend after 9 consecutive weeks of increase. This trend may last from 5 to 6 weeks, with a possible decrease to 2,727 USD/ounce, equivalent to a decrease of 7.7% compared to the previous peak.

One of the important factors affecting gold prices is inflation in the US. The US Federal Reserve (FED) uses the personal consumption expenditure (PCE) price index as a measure of inflation. The results of this report can affect the FED's monetary policy, thereby directly affecting gold prices.

The PCE index is forecast to rise 2.5% year-over-year, down from the 2.6% increase in the December report. If the index rises as expected or less than expected, it would signal that inflation is cooling. This would increase the likelihood that the Fed will keep or cut interest rates. Low interest rates tend to weaken the dollar and bond yields, making gold more attractive. This could lead to a recovery or sharp rise in gold prices.

Conversely, if the PCE index is higher than forecast (above 2.5%), this indicates that inflation is still persistent. In that case, the FED can continue to keep interest rates high or even tighten monetary policy. High interest rates increase the cost of holding gold, while pushing up the value of the USD and bond yields, creating pressure for gold prices to fall.

In a recent interview, Nitesh Shah, Head of European Macroeconomic and Commodity Research at WisdomTree, said his model shows that gold is currently about 15% above fair value. However, he also stressed that the model is not very accurate because of many new factors affecting the gold market.

In addition, another unpredictable factor is geopolitical instability. Although the FED has made neutral adjustments to monetary policy in the context of high inflation, according to Mr. Shah, geopolitical fluctuations may continue to support gold prices in the coming time.