Gold price today March 7, 2025: World gold price and domestic gold price decreased slightly

Domestic gold price today 3/7/2025

At the time of survey at 4:30 a.m. on March 7, 2025, the gold price on the trading floors of some companies was as follows:

DOJI listed the price of 9999 gold today at 90.7 million VND/tael for buying and 92.7 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 91.1-92.5 million VND/tael for buying and selling. Compared to yesterday, the gold price increased by 100 thousand VND/tael for buying and 200 thousand VND/tael for selling compared to yesterday.

SJC gold price at Bao Tin Minh Chau Company Limited is traded by businesses at 90.7-92.7 million VND/tael (buying - selling, down 200 thousand VND/tael in buying direction - unchanged in selling direction compared to yesterday.

SJC gold price in Phu Quy is traded by businesses at 90.7-92.7 million VND/tael (buy - sell), gold price decreased 200 thousand VND/tael in buying direction - unchanged in selling direction compared to yesterday.

The latest gold price list today, March 7, 2025 is as follows:

World gold price today March 7, 2025 and world gold price fluctuation chart in the past 24 hours

According to Kitco, the world gold price recorded at 4:30 a.m. today, Vietnam time, was 2,912.62 USD/ounce. Today's gold price decreased by 1.11 USD compared to yesterday. Converted according to the USD exchange rate, on the free market (25,830 VND/USD), the world gold price is about 91.89 million VND/tael (excluding taxes and fees). Thus, the price of SJC gold bars is 810 thousand VND/tael higher than the international gold price.

World gold prices fell slightly by about 1% as investors took profits after three consecutive days of price increases.

Markets are eyeing US jobs data for clues on the direction of interest rates set by the Federal Reserve, amid rising global trade tensions.

Gold is under profit-taking pressure as investors closely monitor developments on tariffs, with prices trading around $2,900 ahead of the non-farm payrolls report, according to Lukman Otunuga, senior research analyst at FXTM.

Markets are focused on the escalating global trade war after the US imposed 25% tariffs on imports from Mexico and Canada on Tuesday, along with new tariffs on Chinese goods.

Asian shares edged up as investors hoped trade tensions could ease after US President Donald Trump temporarily exempted cars from 25% tariffs from Canada and Mexico for a month, provided the two countries adhere to existing free trade rules.

The market focus now is on the U.S. nonfarm payrolls report due on Friday. Economists polled by Reuters expect the report to show 160,000 new jobs created in February.

Meanwhile, platinum prices were largely unchanged at $964.68 an ounce. The platinum market is expected to be short 500,000 ounces, or 6.4% of demand, by 2025, according to UBS, putting the metal in a three-year deficit. The shortfall could reduce inventories below 3 million ounces and support prices to $1,100 an ounce this year.

Spot silver fell 0.7% to $32.39 an ounce, while palladium fell 0.5% to $937.74.

Gold Price Forecast

Gold is often seen as a safe haven asset during times of geopolitical and economic uncertainty. However, without new catalysts to drive prices, the current downtrend could drag gold lower, Otunuga said. If prices break the $2,900 support level, gold could fall further to $2,880.

The gold market has just experienced a volatile trading session with erratic increases and decreases, showing unpredictability in the short term. Currently, the gold price is continuously challenging the important threshold of 2,900 USD/ounce, a price that many investors closely monitor.

The tariffs are creating a lot of uncertainty in the market, making safe-haven assets like gold more attractive, said David Meger, director of metals trading at High Ridge Futures. This helps gold maintain its appeal amid rising trade and geopolitical tensions.

Going forward, gold prices will be influenced by a number of factors, including inflation data (especially the personal expenditures index - PCE), fluctuations in the US dollar, and gold demand from central banks. The market is waiting for more clues from US economic reports to better determine future price trends.

Meanwhile, China, one of the world's largest gold buyers, has just started its annual parliamentary session and reaffirmed its economic growth target of 5% by 2025. This could further boost gold demand from the country.

Trade tensions between the US and China are also supporting gold prices. According to the Wall Street Journal, the administration of former President Donald Trump is increasing trade pressure, while Beijing has affirmed that it will respond strongly. This makes gold a popular asset in times of uncertainty.

In the long term, gold prices are still well supported by concerns about economic difficulties in the US and the risk of inflation returning. The US Federal Reserve (Fed) is still in the cycle of cutting interest rates, and may face further pressure from politics to loosen monetary policy.

Many organizations predict that gold prices could soon reach $3,000/ounce if geopolitical tensions continue to escalate or the Fed signals a stronger interest rate cut. This shows that the potential for gold price increases in the future is still very large.