DNVN - Domestic gold prices on the morning of March 10, 2025 increased slightly in both trading directions compared to the end of yesterday's session.
At 9:10 a.m., DOJI Gold and Gemstone Group and Saigon Jewelry Company (SJC) listed the price of SJC gold bars at VND90.7 - 92.7 million/tael (buy - sell), an increase of VND200,000/tael in both trading directions compared to the end of yesterday's session.
At Bao Tin Minh Chau Company, the price of gold bars and gold rings is currently listed at 91.7 - 93.3 million VND/tael (buy - sell), remaining unchanged compared to the previous trading session.
Saigon Jewelry Company (SJC) also announced the price of gold rings at 91.1 - 93 million VND/tael (buy - sell), an increase of 200,000 VND/tael in both trading directions compared to yesterday's closing session.
The world gold market has just experienced a week of price increases thanks to increased demand for gold as a safe-haven asset, while the US employment report increased the possibility that the US Federal Reserve (Fed) will adjust interest rates lower this year.
Gold prices rose about 1.7% last week, reflecting concerns about US President Donald Trump's continued changes in tariff policy.
At 1:46 a.m. on March 8 (Vietnam time), the spot gold price recorded 2,906.04 USD/ounce, while the gold futures price ended the trading session on March 7 at 2,914.10 USD/ounce.
The dollar index, which measures the greenback’s strength against a basket of major currencies, fell to a four-month low, marking its biggest weekly decline since November 2022. A weaker dollar makes gold more attractive to investors using other currencies.
In addition, a report from the US Department of Labor said the US economy only created 151,000 jobs in February, lower than the 160,000 jobs predicted by economists surveyed by Reuters news agency.
The unemployment rate in February was recorded at 4.1%, higher than the forecast of 4%. The slower-than-expected job growth has contributed to increased expectations of the Fed cutting interest rates this year, thereby supporting higher gold prices, as lower interest rates reduce the opportunity cost of holding non-yielding precious metals such as gold.
Cao Thong (t/h)
Source: https://doanhnghiepvn.vn/kinh-te/gia-vang-ngay-10-3-2025-tang-200-000-dong-luong/20250310102154902
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