Update gold price today 3/29/2025

Domestic gold prices maintain an upward trend, continuing to set new records.

Opening on March 28, precious metal stores simultaneously raised the prices of both SJC gold bars and plain rings to nearly the peak set more than a week ago. At the same time, the difference between buying and selling prices also widened.

By the afternoon, each tael of gold had increased by several hundred thousand dong compared to the morning, gold bars set a new record of 100.7 million dong. At the end of the trading session, Saigon Jewelry Company (SJC), Doji Company, Phu Quy... all listed the price of SJC gold bars at 98.20-100.20 million dong/tael.

The price of 9999 round gold rings at Phu Quy Company is currently listed at 98.70 - 100.70 million VND/tael; Bao Tin Minh Chau Company is 98.40 - 100.80 million VND/tael; DOJI Group raised the price to 98.9 - 99.8 million VND/tael; PNJ traded at 98.7 - 100.7 million VND/tael; SJC closed the price at 98.5 - 100.5 million VND/tael.

According to market information, people who want to buy gold bars at SJC and state-owned banks must pre-order online. At times when the market is not tense, businesses still sell SJC gold bars to walk-in customers without requiring pre-orders. Meanwhile, plain gold rings at major brands are often in short supply and are limited to a maximum of a few taels per person, depending on the time.

Converted to the USD exchange rate at Vietcombank, the world gold price is equivalent to 95.4 million VND per tael. The difference between domestic and world gold prices is currently around 5 million VND per tael.

World gold prices hit a record high thanks to safe-haven bids and optimistic technical indicators.

According to the World and Vietnam Newspaper at 7:40 p.m. on March 28, the world gold price on the Kitco electronic trading floor was at 3,080.20 USD/ounce, continuing to increase sharply by 22.9 USD compared to the previous trading session.

Comex gold futures hit a new record high of $3,071.30 an ounce. Safe-haven demand remains intact, while bullish technical charts are helping the precious metal maintain its upward trend. April gold futures were last up $41.70 at $3,063.90 an ounce.

Thus, the precious metal peaked for the 17th time this year.

Markets rose as investors sought refuge from escalating global trade tensions and falling stocks. Along with a series of recent new tariffs that surprised partners, on March 27, US President Donald Trump officially imposed a 25% tax on cars imported into the US. A series of governments, from close partners to allies, from Canada to France to China, have announced that they will retaliate.

Overseas markets saw the dollar index fall. Nymex crude oil futures edged up slightly and traded around $69.75 a barrel. The yield on the 10-year US Treasury note is currently around 4.4%.

Technical analysis shows that the April gold futures bulls have the strong overall near-term technical advantage. The bulls’ next upside price objective is to produce a close above solid resistance at $3,100.00. The bears’ next near-term downside price objective is to push futures below solid technical support at $2,900.00.

Gold price today March 29, 2025: Gold price sets record for the 17th time, buying orders still dominate, how much room does gold have to go up? (Source: Kitco)

Gold futures could soon hit $3,100

"Gold futures could soon hit $3,100. The main catalyst is safe-haven demand," said Bob Haberkorn, senior market strategist at RJO Futures.

Goldman Sachs raised its forecast for gold prices by the end of 2025 from $3,100 to $3,300, due to stronger-than-expected demand from ETFs and central banks.

The precious metals market is also being supported by strong demand from central banks and exchange-traded funds, said Phillip Streible, market strategist at Blue Line Futures. Gold is considered a traditional hedge against economic and political uncertainty, and tends to rise in low-interest-rate environments. Currently, the geopolitical and geoeconomic environment is firmly supporting gold.

The gold market has seen a solid breakout above the $3,000 level and despite the strong momentum, some market analysts are not ready to change their forecasts as higher prices could have a surprising impact on the precious metal.

In a recent interview with Kitco News , Chantelle Schieven, Head of Research at Capitalight Research, said she is sticking to her original forecast of gold reaching a high of $3,200 an ounce this year. However, she added that while the precious metal remains in a solid uptrend, volatility is also possible.

While Schieven is bullish on gold this year, she said it is difficult to predict how a recession will impact the precious metal. She explained that during economic downturns, investors often sell gold to raise capital and cover equity losses.

Gold prices are now up more than 15% this year, while the S&P 500 has fallen nearly 5%. The broader stock market index has fallen 8.5% from its all-time high last month.

Schieven predicts the global economy will continue to struggle as US President Donald Trump continues to advocate "America First" policies, including tariffs on imported goods, which have fueled a global trade war.