Gold price on March 11 decreased due to profit-taking activities contrary to safe-haven demand
11-03-2025
Silver price increased slightly in both Hanoi and Ho Chi Minh City, while gold price maintained a slight fluctuation. Investors closely monitor the precious metal market developments amid the weakening USD and high demand.
Silver price continues to increase, reflecting the global market trend
In the international market, silver price also showed signs of increasing after a period of stability at the end of last week. Specifically, spot silver is currently trading around VND 830,000/ounce (buy) and VND 836,000/ounce (sell). Green continued to spread across the precious metal market, helping silver price increase by 1.34%, reaching USD 33.49/ounce at the end of the trading session.
Macro factors such as economic growth, inflation and interest rates are still the main factors affecting silver price. As the US dollar weakens, precious metals such as silver and platinum become more attractive to investors holding other currencies. At the same time, analysts also point out that demand for silver continues to outpace supply, creating the premise for a medium- to long-term price increase.
In the trading session on February 25, 2025, the silver price in the domestic market tended to increase slightly. At Phu Quy Jewelry Group, today’s silver price was listed at VND 1,223,000/tael (buy) and VND 1,261,000/tael (sell) in Hanoi.
Surveyed at some other trading locations in Hanoi, the domestic silver price increased to VND 1,018,000/tael (buy) and VND 1,048,000/tael (sell). Meanwhile, in Ho Chi Minh City, the silver price also recorded a similar increase, currently reaching VND 1,020,000/tael (buy) and VND 1,054,000/tael (sell).
Gold price today: Maintaining an upward trend but with slight fluctuations
In addition to the increase in silver prices, the gold market also had notable adjustments. Specifically, at 4:00 a.m. on February 25, 2025, domestic gold prices at large enterprises were listed as follows:
At SJC and DOJI Group, gold bar prices reached VND 89.7 million/tael (buy) and VND 92 million/tael (sell), an increase of VND 300,000/tael compared to yesterday’s trading session. The difference between the buying price and the selling price is currently at VND 2.3 million/tael.
Mi Hong Jewelry Company listed SJC gold prices at VND 90 – 91 million/tael (buy – sell), in which the buying price decreased slightly by VND 20,000/tael, while the selling price remained the same compared to yesterday.
Bao Tin Minh Chau and Phu Quy Co., Ltd. recorded gold prices of VND90 – 92 million/tael (buy – sell), up VND400,000/tael for buying and VND300,000/tael for selling.
On the world market, the spot gold price according to Kitco was recorded at USD2,936.38/ounce, down 0.04% compared to the previous session. When converted according to the USD exchange rate on the free market (VND25,657/USD), the world gold price is currently at VND90.8 million/tael, about VND1.2 million/tael lower than the SJC gold price (excluding taxes and fees).
What factors should investors observe?
The latest data shows that the precious metal market is still affected by many important factors. Among them, geopolitical tensions, monetary policy and interest rate fluctuations are important factors influencing the price trends of silver and gold.
Many experts believe that although silver and gold prices have short-term fluctuations, in the long term, precious metals still maintain a safe position against economic risks. In particular, the demand for silver in the industrial and technological manufacturing sectors continues to increase, while the supply has not significantly expanded, creating conditions for silver prices to increase sustainably.
Regarding gold prices, the adjustment of the US Federal Reserve (Fed) on interest rate policy may continue to put pressure on gold prices in the coming time. However, the weakening USD may be a factor supporting gold to maintain its upward momentum in the medium term.
