Gold price this afternoon March 7, 2025: World and domestic gold prices increase close to record levels

Domestic gold price this afternoon March 7, 2025

As of 3:30 p.m. this afternoon, March 7, 2025, domestic gold prices increased close to record levels in both buying and selling directions, specifically:

At Saigon Jewelry Company (SJC), the price of gold bars was listed at VND90.9 million/tael (buy) and VND92.9 million/tael (sell). The price of gold this afternoon increased by VND200,000/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 90.9 million VND/tael and selling price of 92.9 million VND/tael. This price increased by 200 thousand VND/tael in both buying and selling directions compared to yesterday.

At Mi Hong Jewelry Company, the buying price of SJC gold is 91.9 million VND/tael and the selling price is 92.7 million VND/tael. Thus, compared to yesterday's session, the gold price increased sharply by 800 thousand VND/tael in the buying direction - increased by 200 thousand VND/tael in the selling direction.

Bao Tin Minh Chau Company Limited listed the price of SJC gold at 90.9 million VND/tael (buy) and 92.9 million VND/tael (sell). This price increased by 200 thousand VND/tael in both buying and selling directions compared to yesterday.

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

	Today (March 7, 2025)		Yesterday (March 6, 2025)
	Purchase price	Selling price	Purchase price	Selling price
SJC	90,900200	92,900200	90,700	92,700
DOJI HN	90,900200	92,900200	90,700	92,700
DOJI SG	90,900200	92,900200	90,700	92,700
BTMC SJC	90,900200	92,900200	90,700	92,700
Phu Quy SJC	90,900200	92,900200	90,700	92,700
PNJ HCMC	91,500	92,900	91,500	92,900
PNJ Hanoi	91,500	92,900	91,500	92,900

The current buying price of SJC 9999 gold rings is 90.9 million VND/tael and the selling price is 92.8 million VND/tael. The price of gold rings increased by 200 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 increased to 91.6 million VND/tael and the selling price increased to 93.2 million VND/tael, an increase of 200 thousand VND/tael in both buying and selling directions compared to yesterday.

World gold price this afternoon 3/7/2025

As of 3:30 p.m. this afternoon, March 7, the world gold price was listed at 2,921.01 USD/ounce, an increase of 16.94 USD/ounce compared to the beginning of the previous trading session.

The US government is gradually withdrawing from its central role on the international stage to focus on domestic development, while Europe is making more aggressive moves. According to one investment fund, this shift could cause global market volatility as the world adapts to the new order. This is expected to continue to support high gold prices.

In an interview with Kitco News, Axel Merk, Chief Investment Officer and Founder of Merk Investments, said the world is changing dramatically. New power dynamics are emerging as investors face a global trade war, the threat of a currency war, while capital flows begin to return to Europe.

Merk argues that the US is no longer the global policeman. The world is now witnessing the emergence of new power dynamics. This will be a period of volatility and more deficits. No one can be sure how things will play out, but one of the reasons many people are buying gold is because of these risks.

While there is no guarantee that gold prices will continue to rise, more and more people are looking at gold as a form of wealth insurance.

Merk believes that a multipolar world of currencies will support gold prices. He expects domestic investment demand to continue to rise. As economic growth weakens, gold prices could benefit, especially if the US Federal Reserve has to cut interest rates.

Markets have begun to price in two rate cuts this year after data from the Atlanta Federal Reserve showed the U.S. economy contracted 2.4 percent in the first quarter. Two weeks ago, the organization had expected the economy to grow 2.3 percent.

Merk said it was too early to tell whether the U.S. would avoid a recession. But the uncertainty would weigh on investor sentiment. In that context, there were no clear winners.

Investors who understand the markets and have a diversified portfolio will have an advantage. In a traditional portfolio, no asset is completely safe.

Looking at the gold market, Merk sees investors starting to diversify their portfolios. The ETF managed by Merk Investments (NYSE: OUNZ) has seen assets increase by $200 million since the beginning of the year. The fund ended 2024 with nearly $1.2 billion in assets and has grown to $1.4 billion in just the first two months of 2025.

Despite his bullish outlook on gold, Merk warned that the biggest risk to the precious metal is that it could rally too much. Gold is now above $2,900 an ounce, up more than 11% year-to-date.

According to data from the People's Bank of China (PBOC), the country's gold reserves increased to 73.61 million ounces at the end of February, up from 73.45 million ounces at the end of January. This is the fourth consecutive month that the PBOC has purchased the precious metal. The value of China's gold reserves also increased from $206.53 billion at the end of January to $208.64 billion at the end of February.

Frank Watson, market analyst at Kinesis Money, commented that the PBOC's continued gold purchases in February were an important factor supporting gold prices, helping to further strengthen the market.

According to the World Gold Council (WGC), global central banks – a major source of gold demand – bought more than 1,000 tonnes of gold in 2024, marking the third consecutive year of such purchases. They are expected to remain active buyers in 2025.

Watson stressed that gold purchases by the PBOC and other central banks have been a key factor in the strong rally in gold prices over the past two years. However, other factors such as inflation, interest rates, geopolitical events and investor demand for safe assets will also continue to shape gold prices in the future.

Quoc Duong