Gold price today March 9: World and domestic gold prices increase close to all-time high

Domestic gold prices increase sharply

As of 12:00 today, the domestic gold price is anchored at 93.2 million, close to the all-time high.

Specifically: at SJC Company, the price of gold bars is currently listed at 90.9 - 92.9 million VND/tael (buy - sell), unchanged in both buying and selling directions compared to the previous session. DOJI Group also recorded a price of 90.9 - 92.9 million VND/tael, unchanged compared to the closing price yesterday.

At Bao Tin Minh Chau, the price of SJC gold bars is listed at 90.9 - 92.9 million VND/tael, the price remains unchanged in both buying and selling directions compared to yesterday's closing price.

The price of 9999 round gold rings also moved sideways today. At DOJI, Hung Thinh Vuong gold rings were listed at 91.6 - 93.2 million VND/tael - close to the all-time high, the price remained unchanged in both buying and selling directions compared to yesterday's closing price.

Bao Tin Minh Chau listed the price of gold rings at 91.7-93.3 million VND/tael (buy - sell); the price remained unchanged in both buying and selling directions.

The difference between buying and selling prices at DOJI is 1.6 million VND/tael, while at Bao Tin Minh Chau it is 1.5 million VND/tael.

The latest gold price list today, March 9, 2025 is as follows:

World gold price today 3/9/2025

On the international market, as of 12:00, the world gold price was listed at 2,911.41 USD/ounce, unchanged from the beginning of the previous trading session.

World gold prices ended the week up about 1.6% from the previous week - the first weekly decline of 2025. Some analysts believe that a new factor is needed to push gold prices above the $3,000/ounce mark.

Global uncertainty due to US President Donald Trump’s constantly changing tariff policies and the risk of a trade war are supporting gold prices. However, many experts say that these factors have already been partly reflected in the market.

Investors are also watching the impact of new spending packages in Europe on gold prices. This week, the European Union (EU) announced a 1,000 billion euro fund for countries to increase military spending. Germany also plans to invest more in defense and infrastructure.

Ole Hansen, head of commodity strategy at Saxo Bank, said gold prices could hold back as he waits to see whether the U.S. enters a period of stagflation. He noted that fiscal expansion in Europe could hurt investment flows, but he sees no reason why gold prices can’t continue to rise.

The renewed focus on Europe has pushed capital into the euro, sending the dollar index to its lowest level since Donald Trump was elected president. The index fell 2.5% for the week, its biggest weekly decline since July 2022.

In this context, Nicky Shiels - head of metals research and strategy at MKS PAMP - commented that gold in EUR terms is an attractive investment in the medium to long term due to the trend of increasing spending.

Despite the sharp weakening of the US dollar, gold prices have not been able to capitalize on the opportunity due to the lack of clear direction in US economic data. Recession fears have been somewhat alleviated after the jobs report showed the labor market remains quite strong.

According to the report, the US economy added 151,000 jobs in February 2025, just slightly lower than the 160,000 forecast by experts. Chairman of the US Federal Reserve (FED) - Mr. Jerome Powell - affirmed that the FED still maintains a neutral stance and is not in a hurry to cut interest rates because the labor market is still stable and inflation remains high.

However, some analysts warn that the risk of recession has not disappeared, but has only been delayed. Naeem Aslam, chief investment officer at Zaye Capital Markets, said there is a 20-25% chance that the US will fall into recession this year due to persistent inflation and the possibility of the Fed making a policy mistake.

Consumer sentiment is weakening, with the University of Michigan index down 10% in February. Trump’s tax policy could still shake things up. Against this backdrop, gold has a chance to surpass $3,000 an ounce, continuing its 28% rally in 2024, supported by strong central bank demand.

Paul Ashworth, chief North American economist at Capital Economics, predicts that the US economy may contract in the first quarter of this year, but a technical recession (two consecutive quarters of negative growth) is unlikely. He said there are still many uncertainties, such as the impact of Elon Musk-led changes to the federal government on GDP.

Gold Price Forecast

Despite some short-term challenges for gold, many experts remain bullish, saying any correction is a buying opportunity. Lukman Otunuga, chief market analyst at FXTM, noted that the latest jobs data has reduced the odds of a rate cut in May to below 50%. This could put pressure on gold prices in the short term.

Technically, the price is trading in a narrow range with support at $2,890 and resistance at $2,930. A break above $2,930 could see a move towards $2,950 and the psychological $3,000 level. A break below $2,890 could see a retest of the $2,860 and $2,835 zones.

Colin Cieszynski, chief market strategist at SIA Wealth Management, predicts that gold prices are likely to soon hit $3,000 an ounce after going through the recent correction and consolidation.

Eighteen Wall Street analysts participated in the Kitco News Gold Survey this week, with 12, or 67%, calling for gold to rise. Only one analyst, or 5%, called for the precious metal to fall, while the remaining five, or 28%, were neutral.

Meanwhile, 251 Main Street retail investors participated in Kitco News’ online poll. The results showed that 168 investors, or 67%, believe that gold prices will rise next week, 44 investors, or 18%, predict that gold prices will fall, and the remaining 39 investors, or 26%, see gold prices moving sideways.

Kelvin Wong, senior market analyst at Oanda, predicts that gold prices will maintain a solid long-term uptrend even if prices correct in the short term. The main support level currently being watched is $2,716/ounce.

Alex Kuptsikevich, senior market analyst at FxPro, believes that gold prices could soon break above $2,950 and move towards $3,180 if the current trend continues.

Michael Moor, founder of Moor Analytics, also took a bullish view. He said that trading below $2,919.90 could signal downside pressure, but that long-term, gold has been in an uptrend since November 2015 and may be in the late stages of this cycle.

Investors are closely monitoring the decisions of the FED and new developments in the global financial market to seek opportunities in the gold market. Gold continues to affirm its position as the leading safe haven asset for investors.

According to Chantelle Schieven - Head of Research at Capitalight Research - central banks' demand for gold will continue to support gold prices, with prices forecast to reach $3,200/ounce.

She also stressed that geopolitical uncertainties due to President Donald Trump's inconsistent trade policies will cause many central banks to seek to reduce their dependence on the USD.