In the world , as of 9:30 p.m. on January 29 (Vietnam time), the spot gold price today on the international market was at 2,740 USD/ounce. Gold for April 2025 delivery on the Comex New York floor was at 2,775 USD/ounce.

The world gold price on the night of January 29 was about 33.8% higher (697 USD/ounce) than at the beginning of 2024. The world gold price converted to the bank USD price was VND 85 million/tael, including taxes and fees, about VND 3.8 million/tael lower than the domestic gold price as of the end of the afternoon session on January 29.

Gold prices in the international market increased again in the context of the USD inching up, after the instability in the financial market before the launch of DeepSeek (China's AI model).

Gold also rose as the US stock market rebounded and reduced selling pressure on gold to offset stock losses. Many US technology stocks rose slightly after earlier sharp declines.

The emergence of DeepSeek is considered by Mr. Trump as a wakeup call for American technology giants. Many urgent meetings show that America still has technological advantages over China. That is the large number of scientists , corporations that own key technologies such as chip design. Nvidia is almost dominating the field of high-speed chip manufacturing.

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World gold prices increase again. Photo: HH

DeepSeek's DeepSeek-R1 is as capable as, or even better than, OpenAI's ChatGPT at a very low investment cost. This is a technological step forward, marking China's strong transformation in the global artificial intelligence race, but this is just an AI platform. Meanwhile, the US still holds many core technologies. This has caused the stock prices of many large corporations to increase again. However, it also takes time to further analyze the technology war between the US and China.

In the domestic market, businesses are closed for Tet. At the close of trading session before the holiday, on January 25, the price of 9999 gold bars at SJC and Doji was listed at VND86.8-88.8 million/tael (buy-sell), an increase of VND600,000 compared to the previous session.

SJC announced the price of gold rings of type 1-5 at only 86.3-88 million VND/tael (buy - sell). Doji listed the price of 9999 smooth round gold rings at 86.6-88.1 million VND/tael (buy - sell), an increase of 400,000 VND/tael compared to the previous session.

Gold Price Forecast

Previously, the trend of gold prices was quite clear to continue to increase in 2025 when the USD was in a downtrend. However, the outlook for the precious metal is assessed to be able to change after the appearance of China's DeepSeek.

However, the Trump administration is making strong moves in the digital asset space, which could be a factor in the decline of the USD, thereby pushing up gold prices.

President Trump has just issued an executive order to “strengthen US leadership in digital financial technology.” Over the next six months, it is likely that the US national digital asset reserve will increase in cryptocurrencies, including Bitcoin.

Some forecasts still predict that gold prices will reach $3,000 an ounce by the end of this year.

Gold price today January 29, 2025 plummeted after the shock of US technology stocks . Gold price today January 29, 2025 on the international market fell sharply due to the USD's surge and US stocks plummeting after the earthquake of Chinese AI startup DeepSeek.