At 8:59 AM today (February 19th, Vietnam time), the spot price of gold in the world market was 2,940.1 USD/ounce, reclaiming the record high set last week.

Domestic gold ring prices saw a sharp increase early this morning, following the rise in global gold prices.

Saigon Jewelry Company (SJC) raised the price of gold rings (1-5 tael) this morning to 89.4-91.5 million VND/tael (buy - sell), an increase of 800,000 VND per tael in the buying price and 600,000 VND per tael in the selling price compared to the closing price of yesterday's trading session.

At 9:04 AM, the price of SJC gold rings (1-5 tael) was adjusted upwards by 300,000 VND per tael for both buying and selling, reaching 89.7-91.8 million VND/tael (buying - selling).

This morning, Doji Gold and Gemstone Group listed the price of 9999 gold rings at 90.2-91.7 million VND/ounce (buy - sell), an increase of 300,000 VND per ounce in both buying and selling prices compared to yesterday's closing price.

At 9:01 AM, Doji Gold and Gemstone Group increased the price of 9999 gold rings to 90.5-92 million VND/ounce (buy - sell), an increase of 300,000 VND per ounce in both directions compared to earlier this morning.

Buying price (VND/ounce) Increase/Decrease Selling price (VND/ounce) Increase/Decrease
SJC 89,700,000 + 1,100,000 91,800,000 + 900,000
Doji 90,500,000 + 900,000 92,000,000 + 900,000

                    Updated gold ring prices for SJC and Doji on the morning of February 19th.

At the opening of trading on February 19th , the price of 9999 gold from SJC increased by 800,000 VND per tael for buying and 600,000 VND per tael for selling compared to the closing price of yesterday's trading session, listed at 89.4-91.7 million VND/tael (buying - selling).

By 9 AM , the price of SJC 9999 gold had increased by 300,000 VND per tael for both buying and selling, reaching 89.7-92 million VND/tael (buying - selling).

At 9:56 AM, the price of SJC 9999 gold reversed course, falling by 400,000 VND per ounce in both buying and selling prices, reaching 89.3-91.6 million VND/ounce (buying - selling).

The price of 9999 gold was listed by Saigon Jewelry Company Limited (SJC) at 9:56 AM and by Doji Gold and Jewelry Group at 10:05 AM as follows:

Buying price (VND/ounce) Increase/Decrease Selling price (VND/ounce) Increase/Decrease
SJC Ho Chi Minh City 89,300,000 +700,000 91,600,000 + 500,000
Doji Hanoi 89,300,000 +700,000 91,600,000 + 500,000
Doji Ho Chi Minh City 89,300,000 +700,000 91,600,000 + 500,000

                Updated gold bar prices for SJC and Doji on the morning of February 19th.

The central exchange rate for February 19th , announced by the State Bank of Vietnam, is 24,633 VND/USD, an increase of 31 VND compared to the previous trading session. The USD exchange rate at commercial banks this morning (February 19th) is commonly quoted at 25,310 VND/USD (buying) and 25,700 VND/USD (selling).

At 8:33 AM today (February 19th, Vietnam time) , the spot price of gold in the world market was $2,933.7 per ounce, an increase of $11.7 per ounce compared to last night. The price of gold futures for April 2025 on the Comex New York exchange was $2,951 per ounce.

On the morning of February 19th , world gold prices, converted using the bank's USD exchange rate, were over 91.8 million VND/ounce, including taxes and fees, approximately 100,000 VND/ounce higher than domestic gold prices.

As of 8 PM on February 18th (Vietnam time), the spot price of gold on the international market was $2,922 per ounce. Gold futures for April 2025 on the Comex New York exchange were at $2,933 per ounce.

The world gold price on the night of February 18 was about 41.6% higher (859 USD/ounce) than at the beginning of 2024. The world gold price converted to the bank USD price was 91.4 million VND/tael, including taxes and fees, about 280 thousand VND/tael higher than the domestic gold price as of the end of the afternoon session on February 18.

Global gold prices rose amid a sharp decline in the US dollar. The DXY index fell below 106.9 points.

Global gold prices surged again, primarily due to strong bargain-hunting demand following last weekend's drop. New forecasts from major corporations also contributed to the rise in the price of the precious metal.

International market instability, stemming from the policies of the Donald Trump administration and conflicts around the world, including in Ukraine, is a strong supporting factor for gold.

Domestically, the gold price was lower than the converted international gold price for the second time in a week. In 2024, the domestic gold price was much higher than the world price most of the time, sometimes 18-20 million VND/tael higher.

By the end of trading on February 18th, the price of 9999 gold bars at SJC and Doji was listed at 88.6-91.1 million VND/ounce (buy-sell), an increase of 1 million VND/ounce in the buying price and an increase of 500,000 VND in the selling price compared to the previous closing session.

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World gold prices have risen sharply again. Photo: HH

SJC announced the price of gold rings (1-5 tael) at 88.6-90.9 million VND/tael (buy - sell), an increase of 1 million VND/tael for buying and 500,000 VND for selling compared to the previous session. Doji listed the price of 9999 pure gold rings at 89.6-91.1 million VND/tael (buy - sell), an increase of 500,000 VND/tael in both buying and selling prices compared to the previous closing session.

The difference between the buying and selling price of gold at businesses has narrowed to 2.5 million VND/ounce, compared to 3.5 million VND previously.

The price of gold on the world market, converted to Vietnamese currency, is currently very high amidst the USD/VND exchange rate in Vietnam being close to its historical peak: 25,340 VND (buying) and 25,700 VND (selling).

Gold price forecast

Gold is projected to continue rising in price in 2025 and could reach new historical highs due to strong demand amid a rather uncertain global future.

Goldman Sachs has just raised its forecast for the global gold price by the end of this year to $3,100 per ounce. Furthermore, if policy uncertainty remains high and investors are concerned about US import tariffs, the price of gold could rise to $3,300 (equivalent to approximately 103 million VND per tael) due to speculation.

According to Goldman Sachs, due to high demand for gold from central banks and increased purchases by gold ETFs as interest rates fall, Goldman Sachs forecasts average gold demand from central banks to rise to 50 tons per month, up from 41 tons previously.

Citi Bank recently raised its gold price forecast for the next three months, from $2,800 to $3,000 per ounce. UBS Bank predicts that gold could reach $3,000 by the end of this year.

Investors are currently awaiting news regarding US-Russia negotiations aimed at ending the conflict in Ukraine. Gold is the top choice at this time.

Gold prices could surge if negotiations fail to yield results, or if the results are not as expected, as well as if there are negative reactions from Ukraine and the European Union (EU). Conversely, gold has grounds to fall.

However, the world still has many upcoming conflicts, from trade and currency to technology, between the US and many countries, including China. Therefore, the forecast of rising gold prices is what most organizations and investors are anticipating.

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