Gold price today March 31: Domestic and world gold prices increase continuously, creating a new price milestone

Domestic gold price this afternoon March 31, 2025

As of 3:30 p.m. this afternoon, March 31, 2025, domestic gold prices increased sharply to over 101 million VND/tael, gold prices were close to 102 million VND/tael, specifically:

At Saigon Jewelry Company (SJC), the price of gold bars was listed at 99.5 million VND/tael (buy) and 101.8 million VND/tael (sell). The price of gold this afternoon increased by 1.1 million VND/tael in both buying and selling directions compared to the end of yesterday's trading session.

DOJI system listed SJC gold at buying price of 99.5 million VND/tael and selling price of 101.8 million VND/tael. This price increased by 1.1 million VND/tael in both buying and selling directions compared to yesterday.

At Mi Hong Jewelry Company, SJC gold is bought at 99.5 million VND/tael and sold at 101 million VND/tael. Thus, compared to yesterday's session, gold price increased by 1.1 million VND/tael for buying and 1.2 million VND/tael for selling.

Bao Tin Minh Chau Company Limited listed the price of SJC gold at 99.5 million VND/tael (buy) and 101.8 million VND/tael (sell). This price increased by 1 million VND/tael for buying and 1.1 million VND/tael for selling compared to yesterday.

The latest gold price list today, March 31, 2025 is as follows:

The current buying price of SJC 9999 gold rings is 99 million VND/tael and the selling price is 101.2 million VND/tael. The price of gold rings increased by 800 thousand VND/tael in both buying and selling directions compared to the end of yesterday's trading session.

For Hung Thinh Vuong 9999 gold ring (DOJI), the buying price is 99.2 million VND/tael and the selling price is 101.7 million VND/tael, an increase of 800 thousand VND/tael for buying - an increase of 1 million VND/tael for selling compared to yesterday.

Bao Tin Minh Chau listed the price of gold rings close to 101 million VND, at 99.6-100.9 million VND/tael (buy - sell); the price increased by 700 thousand VND/tael for buying - increased by 1 million VND/tael for selling.

World gold price this afternoon March 31, 2025

As of 3:30 p.m. this afternoon, March 31, the world gold price was listed at 3,122.71 USD/ounce, stable compared to yesterday and up 39.32 USD/ounce compared to the close of last week's trading session.

World gold prices surpassed the 3,100 USD ounce mark for the first time due to concerns about former US President Donald Trump's tariff policies and negative impacts on the economy, along with geopolitical instability.

These factors have led many investors to rush to buy gold as a safe haven. Gold futures in the US also increased 1.1% to 3,148 USD. Notably, gold prices this quarter increased more than 18%, the strongest increase since September 1986.

Gold prices have risen more than 18% year-to-date, breaking previous records. In early March, gold crossed the psychological threshold of $3,000 an ounce for the first time – a milestone reflecting growing concerns about economic instability, geopolitical tensions and inflation.

A slight 0.2% weakening in the US dollar also helped make gold more attractive to foreign investors. "There is growing concern ahead of the announcement of retaliatory tariffs from the US, which has led to gold being sought as a hedge. However, if the tariffs are not as severe as expected, gold prices could correct lower due to profit-taking," said Tim Waterer, market analyst at KCM Trade.

Since taking office, Mr. Trump has proposed a number of new tariffs aimed at protecting American industry and reducing the trade deficit, including a 25% tax on imported cars and parts, and an additional 10% tax on Chinese goods.

Trump is scheduled to announce retaliatory tariffs on April 2, while auto tariffs will take effect on April 3. In another development, Trump also said he could impose a 25-50% tax on buyers of Russian oil if Moscow obstructs his efforts to end the war in Ukraine.

The tariff issue will continue to push gold prices higher until there is a definitive solution to this trade war, according to Edward Meir, a consultant at Marex. In addition, strong buying demand from central banks and money flowing into ETFs are also factors supporting gold's rise this year.

The sharp rise in gold prices has prompted many banks to revise their price forecasts higher. They remain optimistic about the gold price outlook as global trade tensions show no signs of easing.

On the side of the US Federal Reserve (Fed), President Mary Daly of the San Francisco branch said that newly released inflation data made her less confident in the initial forecast of the possibility of cutting interest rates twice this year.

Along with gold, other precious metals also recorded gains. Silver rose 0.6% to $34.32 an ounce, platinum rose 1.1% to $994.60 and palladium rose 0.9% to $980.11. All were on track for a monthly gain.

Gold price forecast

Several major banks, including Goldman Sachs, Bank of America and UBS, have raised their gold price targets this month. Goldman Sachs predicts gold prices could reach $3,300 an ounce by year-end, up from the current $3,100.

Bank of America expects gold to trade at $3,063 an ounce in 2025 and $3,350 an ounce in 2026, higher than its previous forecast.

John Weyer, director of commercial hedging at Walsh Trading, said gold still has plenty of room to grow. Even if the tariff talks ease, gold still has reasons to hold high prices.

If Trump imposes only mild tariffs on April 2, there will still be concerns about the long-term economic impact. In this scenario, gold prices could still remain around $3,000 an ounce. If large tariffs are implemented, gold could surge to $3,200 to $3,300 an ounce.

Jesse Colombo, an independent precious metals analyst, said he is watching the $100 gains to determine support and resistance for gold, with $3,000 an ounce now the new support zone.

He said the current trend is for gold prices to go up. Although he wants to close above $3,100, if gold retests the $3,000 mark, there is no need to worry too much.

Alex Kuptsikevich, an analyst at FxPro, believes that gold is still in a strong uptrend. After a brief correction late last week, the price of gold continued to hit a new historical high. Kuptsikevich predicts that the price of gold will reach the $3,180 mark in the next few weeks and could rise to $3,400 an ounce by the end of this summer.

He explained that the new tariff war has boosted demand for safe assets such as gold. The weaker US dollar, combined with the decline in US stocks, has increased the appeal of gold. According to him, the market is now reflecting expectations of more dovish monetary policy from the US.

From a domestic perspective, Associate Professor Dr. Nguyen Huu Huan commented that the gold price has increased too quickly, the possibility of adjustment is very high. However, the current price level has been established, so the possibility of returning to 70-80 million VND/tael is very low.

Dr. Le Xuan Nghia also shares the same opinion. He said that after each strong increase, gold tends to adjust. However, with the gold price surpassing the threshold of 101 million VND/tael, the possibility of a deep drop back to 70-80 million is almost impossible.