Gold prices fluctuate violently, world market "free fall", domestic management policies take effect

Gold price today February 17, 2025: Domestic gold prices have fluctuated continuously with strong amplitude in recent days, following the price movements of precious metals in the international market. An unexpected thing happened in the domestic market, causing the transaction price to be only a few hundred thousand VND/tael higher than the world price . How will market prices continue to develop in the coming time?

1. PNJ - Updated: 01/01/1970 08:00 - Website time of supply - ▼ / ▲ Compared to yesterday.
Type	Buy	Sell
HCMC - PNJ	88,300	90,200
HCMC - SJC	87,300	90,300
Hanoi - PNJ	88,300	90,200
Hanoi - SJC	87,300	90,300
Da Nang - PNJ	88,300	90,200
Da Nang - SJC	87,300	90,300
Western Region - PNJ	88,300	90,200
Western Region - SJC	87,300	90,300
Jewelry gold price - PNJ	88,300	90,200
Jewelry gold price - SJC	87,300	90,300
Jewelry gold price - Southeast	PNJ	88,300
Jewelry gold price - SJC	87,300	90,300
Jewelry gold price - Jewelry gold price	PNJ 999.9 Plain Ring	88,300
Jewelry gold price - Jewelry gold 999.9	87,600	90,100
Jewelry gold price - Jewelry gold 999	87,510	90,010
Jewelry gold price - Jewelry gold 99	86,800	89,300
Jewelry gold price - 916 gold (22K)	80,130	82,630
Jewelry gold price - 750 gold (18K)	65,230	67,730
Jewelry gold price - 680 gold (16.3K)	58,920	61,420
Jewelry gold price - 650 gold (15.6K)	56,220	58,720
Jewelry gold price - 610 gold (14.6K)	52,610	55,110
Jewelry gold price - 585 gold (14K)	50,360	52,860
Jewelry gold price - 416 gold (10K)	35,130	37,630
Jewelry gold price - 375 gold (9K)	31,440	33,940
Jewelry gold price - 333 gold (8K)	27,380	29,880

Update gold price today 2/17/2025

World gold prices fell from the peak, losing nearly 50 USD/ounce in one session.

Profit-taking activities caused each ounce of gold to fall by 60 USD from the peak and close the weekend trading session below the threshold of 2,900 USD. According to the World and Vietnam Newspaper , on February 14, the world gold price listed on the Kitco electronic floor was 2,883.10 USD/ounce , down 45.6 USD/ounce compared to the previous trading session.

Last weekend, the price of gold reached $2,936, approaching the record of $2,942 set earlier this week. There are many reasons that have pushed the market to cause the price of precious metals to fluctuate strongly. In particular, the price of gold "peaked" when US President Donald Trump announced plans to impose reciprocal import tariffs on countries that impose tariffs on the US. This move could increase inflationary pressure and global trade tensions, increasing demand for safe-haven gold.

New data showed that US retail sales fell the most in nearly two years in January, suggesting that economic growth in the first quarter of the year may have slowed. However, investors expect the US Federal Reserve (Fed) may not cut interest rates until September, due to inflation concerns. The number of US unemployment claims fell last week, suggesting the job market remains strong, further helping the Fed to stay in a hurry to cut rates.

The US also reported a stronger-than-expected 0.4% increase in the manufacturing index (PPI) in January, adding to evidence of accelerating inflation. This will make it more likely that the US Federal Reserve will keep interest rates unchanged until mid-year. In testimony before the US Congress this week, Fed Chairman Jerome Powell also reiterated that the agency is in no rush to cut interest rates. However, the impact of this information on the gold market is not large.

Gold prices plunged at the end of last week, technically, the failure of gold to reach its previous peak caused the market to form a double top pattern. Another reason is that investors sold to take profits at unprecedented high prices.

However, the global gold market has recorded 7 consecutive weeks of increase, mainly due to concerns about trade tensions when US President Donald Trump launched a series of tariffs on countries. Gold prices are forecast to continue to increase, thanks to import taxes, inflation, the devaluation of the US dollar and the wave of switching to physical gold this year.

"The main drivers remain political uncertainty and economic fallout. Investors around the world are concerned about the impact of Trump's policies on the economy," said analyst Jeffrey Christian at CPM Group.

Meanwhile, forecasting the future price of gold, Senior Market Strategist Bob Haberkorn at RJO Futures assessed that the outlook for gold is still very bright, due to the need for shelter from investors and buying power when prices leave the peak. Many organizations now predict that gold prices will reach $3,000 in the first half of this year.

Concerns about budget deficits, trade conflicts, wars, sanctions and the risk of asset freezes have driven central banks and investors to buy gold, said Michael Widmer, commodity strategist at Bank of America. If central banks continue to accumulate gold, the price of gold could rise to $3,500 an ounce in the near future, he predicted.

The domestic gold price this weekend dropped by 1 million VND to around 90 million VND for both gold bars and plain rings. Currently, the domestic gold price is only a few hundred thousand VND/tael higher than the world price.

According to a survey, for about a week now, the domestic gold market has no longer seen a shortage of supply, and those in need can freely buy gold rings and SJC gold bars. However, the market no longer has scenes of people lining up to buy gold.

According to analysts, for about a week now, the demand for gold has been low, and the psychological factor of fearing that investing at this time will be risky has caused many people to not buy but sell to take profits. Accordingly, gold traders have not adjusted gold prices to increase sharply according to world prices. Therefore, the gap between domestic and world gold has been pulled almost equal.

The fact that the domestic and international gold prices are almost equal is the result of the solutions and policies to stabilize the gold market in recent times by the State Bank, and the role of the authorities has also been promoted. This is the success of the economic management policy of the Government and the State Bank.

At the end of last week, Saigon Jewelry Company (SJC) listed the price of gold bars at 87.3 - 90.3 million VND, down 1 million VND per tael compared to the previous day. Phu Nhuan Jewelry Company (PNJ) also raised the price of gold bars to 87.3 - 90.3 million VND per tael. DOJI Jewelry Group listed the price of gold bars at 87.7 - 90.7 million VND.

The price of gold rings continued to decrease to the same level as the selling price of SJC gold bars. The buying price of gold ring brands is about 1 million VND/tael higher than the price of gold bars. SJC reduced the price of plain rings to 87.3 - 90.1 million VND, 1 million VND/tael lower than the previous day. Plain rings at PNJ are down to 88.3 - 90.2 million. Bao Tin Minh Chau listed plain rings at 88.5 - 90.3 million.

Gold price today February 17, 2025: Gold price fluctuates violently, world market 'free fall', what is forecast to happen next? (Source: Kitco)

Gold price forecast this week?

The latest Kitco News weekly gold survey shows that industry professionals remain bullish but more cautious than last week, while retail traders are also more cautious in their expectations for further gains.

Of the 14 experts who participated in the Kitco News Gold Survey this week, 10 (71%) said they expected gold prices to continue rising next week; two (14%) said they expected the precious metal to fall; and two predicted it would be flat.

While last week, of the 17 experts who participated in the remarkable survey, none of them predicted that gold prices would fall; 15 experts (accounting for 88%) expected gold to continue to set new highs this week; only 2 people, equivalent to 12%, thought that prices would move sideways.

Kitco’s weekly online poll drew 201 votes. Investors were less bullish but still positive on gold’s outlook. 131 retail traders (65%) expect gold prices to rise this week; 48 (24%) expect prices to fall; the remaining 22 (11%) see gold moving sideways in the short term.

Summary of SJC gold bar and gold ring prices at major domestic trading brands at the closing time of last week's trading session (February 15):

Saigon Jewelry Company SJC: SJC gold bars 87.3 - 90.3 million VND/tael; SJC gold rings 87.3 - 90.1 million VND/tael.

DOJI Group: SJC gold bars 87.7 - 90.7 million VND/tael; 9999 round rings (Hung Thinh Vuong) 89.0 - 90.7 million VND/tael.

PNJ system: SJC gold bars 87.3 - 90.3 million VND/tael; PNJ 999.9 plain gold rings at 88.3 - 90.2 million VND/tael.

Phu Quy Gold and Silver Group: SJC gold bars: 87.5 - 90.3 million VND/tael; Phu Quy 999.9 round gold rings: 88.5 - 90.3 million VND/tael.

SJC gold price at Bao Tin Minh Chau is listed at 87.3 - 90.3 million VND/tael; plain round gold ring price is 88.45 - 90.3 million VND/tael.

Converted according to the USD selling rate at Vietcombank, the world gold price is equivalent to 88.9 million VND per tael. The difference between domestic and world gold prices is currently only around 1 million VND per tael.

Source: https://baoquocte.vn/gia-vang-hom-nay-1722025-gia-vang-bien-dong-du-doi-thi-truong-the-gioi-roi-tu-do-chinh-sach-dieu-hanh-trong-nuoc-phat-huy-tac-dung-304540.html