Gold price today March 2, 2025: World and domestic gold prices drop sharply after 2 months of high increase
Gold price today March 2, 2025: World gold price and domestic gold price have a week of deep decline after more than two months of high increase. Experts predict that gold price will continue to decrease next week.
Domestic gold price today March 2, 2025
At the time of survey at 4:30 a.m. on March 2, 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 remained unchanged in both buying and selling directions 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 remained unchanged in both buying and selling compared to yesterday.
SJC gold price at Bao Tin Minh Chau Company Limited is traded by businesses at 88.8-90.5 million VND/tael (buying - selling), unchanged in both buying and selling directions compared to yesterday.
SJC gold price at Phu Quy is traded by businesses at 88.8-90.5 million VND/tael (buy - sell), unchanged in both buying and selling directions compared to yesterday.
The latest gold price list today, March 2, 2025 is as follows:
| Gold price today | March 2, 2025 (Million VND) | Difference (thousand dong/tael) | ||
| Buy | Sell out | Buy | Sell out | |
| SJC in Hanoi | 88.5 | 90.5 | - | - |
| DOJI Group | 88.5 | 90.5 | - | - |
| Mi Hong | 90.4 | 91 | - | - |
| PNJ | 88.5 | 90.5 | - | - |
| Vietinbank Gold | 90.5 | - | ||
| Bao Tin Minh Chau | 88.8 | 90.5 | - | - |
| Phu Quy | 88.8 | 90.5 | - | - |
| 1.DOJI- Updated: 2/3/2025 04:30 - Source website time - ▼/▲ Compared to yesterday. | ||
| Type | Buy | Sell out |
| AVPL/SJC HN | 88,500 | 90,500 |
| AVPL/SJC HCM | 88,500 | 90,500 |
| AVPL/SJC DN | 88,500 | 90,500 |
| Raw material 9999 - HN | 90,000 | 90,400 |
| Raw materials 999 - HN | 89,900 | 90,300 |
| AVPL/SJC Can Tho | 88,500 | 90,500 |
| 2.PNJ- Updated: 2/3/2025 04:30 - Source website time - ▼/▲ Compared to yesterday. | ||
| Type | Buy | Sell out |
| HCMC - PNJ | 89,800 | 90,500 |
| HCMC - SJC | 88,500 | 90,500 |
| Hanoi - PNJ | 89,800 | 90,500 |
| Hanoi - SJC | 88,500 | 90,500 |
| Da Nang - PNJ | 89,800 | 90,500 |
| Da Nang - SJC | 88,500 | 90,500 |
| Western Region - PNJ | 89,800 | 90,500 |
| Western Region - SJC | 88,500 | 90,500 |
| Jewelry gold price - PNJ | 89,800 | 90,500 |
| Jewelry gold price - SJC | 88,500 | 90,500 |
| Jewelry gold price - Southeast | PNJ | 89,800 |
| Jewelry gold price - SJC | 88,500 | 90,500 |
| Jewelry gold price - Jewelry gold price | PNJ 999.9 Plain Ring | 89,800 |
| Jewelry gold price - Jewelry gold 999.9 | 88,000 | 90,500 |
| Jewelry gold price - 999 jewelry gold | 87,910 | 90,410 |
| Jewelry gold price - 99 jewelry gold | 87,200 | 89,700 |
| Jewelry gold price - 916 gold (22K) | 80,500 | 83,000 |
| Jewelry gold price - 750 gold (18K) | 65,530 | 68,030 |
| Jewelry gold price - 680 gold (16.3K) | 59,190 | 61,690 |
| Jewelry gold price - 650 gold (15.6K) | 56,480 | 58,980 |
| Jewelry gold price - 610 gold (14.6K) | 52,860 | 55,360 |
| Jewelry gold price - 585 gold (14K) | 50,590 | 53,090 |
| Jewelry gold price - 416 gold (10K) | 35,300 | 37,800 |
| Jewelry gold price - 375 gold (9K) | 31,590 | 34,090 |
| Jewelry gold price - 333 gold (8K) | 27,520 | 30,020 |
| 3. SJC - Updated: 3/2/2025 04:30 - Website time of supply - ▼/▲ Compared to yesterday. | ||
| Type | Buy | Sell out |
| SJC 1L, 10L, 1KG | 88,500 | 90,500 |
| SJC 5c | 88,500 | 90,520 |
| SJC 2c, 1C, 5 phan | 88,500 | 90,530 |
| SJC 99.99 gold ring 1 chi, 2 chi, 5 chi | 88,500 | 90,400 |
| SJC 99.99 gold ring 0.3 chi, 0.5 chi | 88,500 | 90,500 |
| 99.99% Jewelry | 88,500 | 90,100 |
| 99% Jewelry | 86,207 | 89,207 |
| Jewelry 68% | 58,424 | 61,424 |
| Jewelry 41.7% | 34,725 | 37,725 |
World gold price today March 2, 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 2,857.44 USD/ounce. Today's gold price increased by 15.45 USD/ounce compared to yesterday. Converted according to the USD exchange rate, on the free market (25,830 VND/USD), the world gold price is about 89.96 million VND/tael (excluding taxes and fees). Thus, the price of SJC gold bars is 540 thousand VND/tael higher than the international gold price.
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World gold prices rose slightly today, after the US personal consumption expenditure (PCE) price index in January increased 0.3%, as expected, suggesting that the Federal Reserve (Fed) may be more cautious in cutting interest rates further.
Gold prices fell sharply by 2.27% this week compared to last week, marking the first weekly decline in February 2025. However, for the whole month, gold prices still increased by nearly 70 USD/Ounce due to 9 consecutive peak increases in the month.
The US dollar rose this week, making gold more expensive for foreign investors. Jim Wyckoff, senior market analyst at Kitco Metals, said: 'The main factors affecting the gold and silver markets were investors taking profits after a week of selling and a stronger US dollar.'
US stocks also started weakly as investors worried about price pressure from former President Trump's policies. Peter Grant, vice president and senior metals strategist at Zaner Metals, said: 'The decline in the stock market has put pressure on gold, causing prices to continue to fall from Monday's record high.'
Investors are still betting that the Fed will cut interest rates again in June. High interest rates typically reduce the appeal of gold because it does not pay interest.
However, gold, considered a safe-haven asset, is still on track to rise for a second straight month, thanks to concerns about Trump's tariff plans. Mr. Trump announced that a 25% tariff on goods from Mexico and Canada will take effect from March 4, along with an additional 10% tariff on imports from China.
Meanwhile, silver prices fell 0.8% to $31, platinum fell 1.1% to $938.50, and palladium fell 0.6% to $914. All three metals were on a downward trend for the month.
Gold price forecast
Jim Wyckoff, senior analyst at Kitco, said the gold market is currently lacking positive news to continue its rally. 'A bull market needs to be supported by good news. There hasn't been much positive news in the gold market lately,' he explained.
Adrian Day, chairman of Adrian Day Asset Management, said gold prices could fall further as investors take profits. However, he said the decline is not a cause for concern. "Gold has risen 12% this year but is down less than 4% from its peak. This is just a temporary correction," he said.
Marc Chandler, CEO of Bannockburn Global Forex, agrees that gold prices could continue to fall in the short term. He analyzed: 'Gold hit a record high of $2,956 an ounce on February 24 but then sold off. Right now, gold is behaving more like a risk asset than a safe haven.'
This expert predicts that the next support level for gold could be $2,814/ounce. If this level is broken, the price could continue to fall to $2,770/ounce.
Darin Newsom, senior analyst at Barchart.com, said that technically, gold may be forming a bearish reversal pattern on the weekly chart. "Even the most bullish markets need time to correct, and gold will likely need to correct next week," he said.
Daniel Pavilonis, senior commodities broker at RJO Futures, said the recent decline in gold was related to “risk-off” sentiment in financial markets. “Both equity markets and gold are falling, while US bond yields are also falling. This shows that money is flowing out of risky assets,” he explained.
Pavilonis also warned that gold's key support level is now at $2,600 an ounce, which corresponds to the 200-day moving average. 'If the S&P 500 index falls below 5,700, gold could fall to $2,600 an ounce before finding a new equilibrium,' he said.
Adam Button, Head of Forex Strategy at Forexlive.com, said gold prices could continue to fall as money in China is shifting from gold to stocks, thanks to the prospect of economic recovery.
Everett Millman, an analyst at Gainesville Coins, said the drop was a healthy correction after a strong run earlier this year. 'Before this week, gold prices were mostly up,' he said. 'A correction is normal, especially when investors are taking profits and waiting for new opportunities.'
