Gold price on Kitco floor at 9:00 p.m. (January 20, Vietnam time) was trading at 2,671.9 USD/ounce, up 0.26% compared to the beginning of the session. Gold futures price for February 2025 delivery on Comex New York floor was trading at 2,745.5 USD/ounce.

At the beginning of the trading session on January 20 (US time), the world gold price increased slightly due to cautious sentiment before the inauguration of Donald Trump as the 47th President of the United States. Investors are expecting gold to be a safe haven when political instability occurs right after the new White House has a new owner. The new president's decisions, signed immediately after taking office, will affect the direction of gold in the coming time.

Experts say investors are most concerned about decisions related to import taxes on goods into the US, which will help the USD increase sharply, causing gold to lose momentum.

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Gold prices rose slightly ahead of the White House's new owner. Photo: HH

Kevin Grady, president of Phoenix Futures and Options, said that gold is supported by many factors. In the past, gold has been supported by demand from investors and central banks and this will not change. He is optimistic that the target of $ 3,000 / ounce this year is completely achievable.

In the short term, Grady said it is difficult to determine the direction of gold prices because it depends a lot on Mr. Trump's tariff policy.

Marc Chandler, CEO of Bannockburn Global Forex, predicts gold prices will hit a new record high in 2025 as the People's Bank of China continues to buy, and lower US interest rates could encourage investors to enter the gold market.

In the domestic market, at the end of the session on January 20, the price of 9999 gold bars at SJC was VND84.9 million/tael (buy) and VND86.9 million/tael (sell). Doji listed it at VND84.7 million/tael (buy) and VND86.7 million/tael (sell).

SJC announced the price of gold rings of type 1-5 at only 84.6-86.3 million VND/tael (buy - sell). Doji listed the price of 9999 smooth round gold rings at 84.4-86 million VND/tael (buy - sell).

Gold Price Forecast

Michael Langford, chief investment officer at Scorpion Minerals, said the increased uncertainty from the new administration and its policies is making gold an attractive short-term trade. He predicted that gold prices could reach $3,200 an ounce this year.

According to Ross Norman, CEO of Metals Daily, the average spot gold price is $2,888/ounce in 2025, with a high of $3,175/ounce and a low of $2,630/ounce.

Analysts from CPM Group - a large global commodity research and asset management group - predict that the gold price will reach $2,800/ounce in the short term and advise market participants to buy when the price drops.

Donald Trump takes office: Gold prices are expected to skyrocket, what will happen to the world economy ? Gold prices are expected to rise sharply after Donald Trump takes office as US President. Trump has just had a phone call with the Chinese President and proposed a solution to TikTok. The world economy is facing many fluctuations due to unpredictable policies.