Gold price today March 11, 2025: World gold price decreases, domestic gold price increases

Domestic gold price today March 11, 2025

At the time of survey at 4:30 a.m. on March 11, 2025, the gold price on the trading floors of some companies was as follows:

DOJI listed the price of 9999 gold today at 90.9 million VND/tael for buying and 92.9 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 92.1-93.2 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 90.9-92.9 million VND/tael (buying - selling), unchanged in both buying and selling directions compared to yesterday.

The difference between buying and selling prices at SJC, DOJI, Bao Tin Minh Chau, PNJ, and Phu Quy stores is 2 million VND/tael. Except for the difference between buying and selling prices at Mi Hong, which is only 1.1 million VND/tael.

SJC gold price at Phu Quy is traded by businesses at 91.1-93.1 million VND/tael (buy - sell), gold price increased slightly by 200 thousand VND/tael in both buying and selling directions compared to yesterday.

The latest gold price list today, March 11, 2025 is as follows:

World gold price today March 11, 2025 and world gold price fluctuation chart in the past 24 hours

According to Kitco, the world gold price recorded at 4:30 am today, Vietnam time, was 2,901.82 USD/ounce. Today's gold price decreased by 9.59 USD compared to yesterday. Converted according to the USD exchange rate, on the free market (25,820 VND/USD), the world gold price is about 92 million VND/tael (excluding taxes and fees). Thus, the price of SJC gold bars is 900 thousand VND/tael higher than the international gold price.

Gold prices fell slightly on Friday as the US dollar rebounded slightly, reducing demand for safe-haven assets such as gold amid trade war concerns. Meanwhile, investors are waiting for inflation data this week for more clues on the US Federal Reserve's next decision on interest rates.

The US dollar index (.DXY) edged down after hitting a more than four-month low last Friday.

Despite the lack of strong selling pressure over the past week or so, the US dollar (USD) attracted some buying flows on the first day of the week and edged up slightly from its lowest level since November, which was boosted by weak US employment data. This was seen as the main factor putting slight downward pressure on gold prices.

Meanwhile, markets remain focused on trade tensions. In the latest warning to Canada, US President Donald Trump said on Friday that tariffs on dairy products and lumber could soon be imposed.

Traders are looking ahead to US Consumer Price Index (CPI) data on Wednesday and Producer Price Index (PPI) on Thursday for further clues on US interest rates. The Fed left interest rates unchanged after three cuts through 2024. The market expects the first cut this year to come in June.

Gold is often seen as a hedge against inflation and geopolitical instability, but high interest rates could reduce the appeal of the non-yielding asset.

Data showed consumer prices in China, the world's top metals consumer, missed expectations in February and fell at the sharpest pace in 13 months, while producer price deflation continued.

Spot silver was unchanged at $32.55 an ounce, platinum rose 0.6% to $968.40 and palladium rose 0.2% to $950.50.

Gold price forecast

Peter Fertig, an analyst at Quantitative Commodity Research, said the rising dollar is putting pressure on gold prices. He predicted that gold prices could continue to correct below $2,900.

However, in the short term, many analysts remain bullish on gold, saying any dip in prices would be a buying opportunity.

The US economy is expected to contract in the first quarter of the year, but he hopes the economy can still avoid a technical recession, according to Paul Ashworth, chief North America economist at Capital Economics.

'I don't expect the US economy to fall into recession. But surprises can still happen. Aside from consumer concerns about tariffs, we have yet to see the impact of Elon Musk's DOGE efforts,' he said.

Naeem Aslam, chief investment officer at Zaye Capital Markets, puts the chance of a recession this year at 20-25%, citing persistent inflation and potential mistakes by the US Federal Reserve. He says consumer sentiment is volatile, while uncertainties such as Trump’s tariffs could still tip the economic balance. In this scenario, gold prices could surpass $3,000 an ounce, up 28% from 2024, thanks to strong demand from central banks.

Gold's hold above $2,900 an ounce reflects growing macroeconomic concerns as well as a heightened geopolitical risk environment, said Frank Watson, market analyst at Kinesis Money.

Ricardo Evangelista, senior analyst at brokerage ActivTrades, said gold could find support around $2,900, potentially returning to its record high of $2,956 hit in late February.

Technically, gold is trading between the support of $2,890/ounce and the resistance of $2,930/ounce. If gold breaks above $2,930/ounce, it could continue to rise to $2,950/ounce and aim for the psychological level of $3,000/ounce. Conversely, if the price falls below $2,890/ounce, gold could test lower levels at $2,860/ounce and $2,835/ounce.

Quoc Duong