The price of gold on the Kitco floor at 8:30 p.m. (March 3, Vietnam time) was trading at $2,874.5/ounce, up 0.52% from the beginning of the session. The price of gold futures for delivery in April 2025 on the Comex New York floor was trading at $2,889/ounce.

At the beginning of the trading session on March 3 (US time), the world gold price increased sharply again after many sessions of decline. Analysts said that the sharp decline in gold prices recently is promoting opportunities for investors to buy.

Concerns over US President Donald Trump’s threat to impose tariffs on imports from Mexico and Canada, and the greenback’s movements related to interest rate expectations, have had a strong impact on the direction of gold. Experts say these are still important factors in determining whether gold can conquer the $3,000/ounce mark.

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World gold prices increased sharply after many sessions of decline. Photo: NH

Adrian Day, chairman of Adrian Day Asset Management, said the recent correction in gold prices is not over yet. However, he said the fundamentals that have driven gold purchases over the past two years are still in place, so any further declines in prices will be short-lived.

Despite gold’s declines for most of last week, Gainesville Coins market analyst Everett Millman isn’t worried. He says that amid the uncertainty over global trade, the U.S. economy , and what’s going on in Washington, it’s normal for investors to convert their assets, including gold, into cash.

In the domestic market, at the end of the session on March 3, the price of 9999 gold bars at SJC and Doji was 89 million VND/tael (buy) and 91 million VND/tael (sell).

SJC announced the price of 1-5 ring gold at only 89-90.9 million VND/tael (buy - sell). Doji listed the price of 9999 round smooth ring gold at 90.65-91.5 million VND/tael (buy - sell).

Gold price forecast

Mr. Everett Millman predicts that gold prices will rise above the $3,000/ounce threshold in the near future and believes that this precious metal has a good chance of converting this level into support.

Bannockburn Global Forex CEO Marc Chandler predicts gold prices could fall to $2,770 an ounce if they fail to hold support at $2,814 an ounce.

Jess Colombo, an independent analyst, also made a similar forecast and said that this is just a natural market correction. However, if gold prices close below $2,800 an ounce, investors should be more cautious with gold mining stocks.

Gold price today March 3, 2025 suddenly increased sharply, SJC and rings both jumped to 91 million . Gold price today March 3, 2025 in the country suddenly increased sharply by half a million VND per tael due to the recovery of gold price in the world market. SJC returned to the mark of 91 million VND/tael, while Doji rings were 500,000 VND more expensive than gold bars (selling).