Gold price today March 4: Strong increase in both domestic and world markets

Domestic gold prices increased sharply

As of 10:00 this morning, domestic gold prices have significantly increased. SJC gold bars increased from 500 to 600 thousand VND/tael, while 9999 plain gold rings increased more strongly, up to 700 thousand VND/tael.

At SJC Company, the price of gold bars is currently listed at 89.6 - 91.6 million VND/tael (buy - sell), an increase of 600 thousand VND/tael compared to the previous session. Similarly, DOJI Group also recorded a price of 89.6 - 91.6 million VND/tael, an increase of 600 thousand VND/tael compared to the beginning of yesterday's session.

Particularly at Bao Tin Minh Chau, the price of SJC gold bars is listed at 89.8 - 91.6 million VND/tael, slightly higher than SJC and DOJI, with an increase of 500 thousand VND/tael for buying and 600 thousand VND/tael for selling compared to the beginning of yesterday's session.

The price of 9999 round gold rings also increased sharply today. At DOJI, Hung Thinh Vuong gold rings were listed at 91.2 - 92.2 million VND/tael, an increase of 550 thousand VND/tael for buying and 700 thousand VND/tael for selling compared to the beginning of yesterday's session.

Bao Tin Minh Chau also adjusted the price of gold rings to 91.2 - 92.4 million VND/tael, an increase of 600 thousand VND/tael. The difference between buying and selling prices at DOJI is 1 million VND/tael, while at Bao Tin Minh Chau it is 1.2 million VND/tael.

The latest gold price list today, March 4, 2025 is as follows:

World gold price today March 4, 2025

In the international market, gold prices are also on the way to recovery after the previous decline. Currently, the world gold price is listed at 2,890 USD/ounce, up 25 USD/ounce compared to the previous session.

The main reason for the rise in gold prices is the weakening of the US dollar. The US dollar index - which measures the strength of the greenback against other currencies - is at 106.515 points, up slightly by 0.05%. When the US dollar is weak, gold is often favored as a safe investment channel.

In addition, demand for gold as a safe haven asset has also increased due to geopolitical tensions. The tense meeting between US President Donald Trump and Ukrainian President Volodymyr Zelensky on Friday raised concerns about US-Ukraine relations, as well as the possibility of reaching a ceasefire between Ukraine and Russia.

Gold price forecast

Based on market analysis, gold prices may continue to fluctuate in the short term. If gold prices continue to rise, the next resistance levels will be at $2,920/ounce and $2,942/ounce. Conversely, if they fall, the important support level to watch is $2,800/ounce.

According to IG Group experts, the current gold price is not only affected by macroeconomic factors but also by the actual demand for gold from central banks and major financial institutions. Some investors consider gold as an anti-inflation asset, while others see it as a safe haven channel to replace the USD or government bonds.

Experts predict a fair price for gold in current conditions of around $2,906 per ounce, based on factors such as inflation expectations, market risks and real yields.