Gold prices today (afternoon of February 17): World gold prices continue to fall.

World gold prices fell 2.01%, to $4,893.7 per ounce. The US market was closed for a holiday on Monday. Liquidity in the Asian region was relatively quiet as major markets such as China and South Korea were closed for trading ahead of the Lunar New Year.

Gold prices are highly sensitive to signals from the US economy , particularly inflation and labor market data. When indicators like the CPI or non-farm payrolls show easing price pressures and slowing growth, expectations of a Federal Reserve (Fed) interest rate cut increase, thereby supporting gold – a non-yielding asset. Conversely, if the US economy maintains strong growth and inflation remains high, bond yields and the US dollar tend to rise, putting downward pressure on the precious metal.

Kevin Grady, President of Phoenix Futures and Options, said he is closely monitoring open contracts on the CME Group for clues about gold price trends.

Grady argues that much of the speculative capital is now shifting to smaller-scale products, better suited to individual investors. After CME raised margin requirements, many retail investors moved away from standard contracts and into mini-contracts, where trading volumes are reaching record highs.

As a result, the market is now more dominated by individual investors and trend-following trades, while large capital flows are observing from the sidelines. This may be the reason why recent price fluctuations have been more volatile and unpredictable.

Regarding the short-term outlook, he said the market would closely monitor Kevin Warsh's policy views if he were to assume the position of Fed Chairman, as well as issues related to the central bank's independence.

Gold prices are projected to be higher this year, but it's emphasized that the performance of open interest will be a key indicator in determining which side the large capital flows are favoring.

Meanwhile, the prices of gold bars and gold rings in the domestic market remained unchanged, continuing to anchor at high levels.

Brands such as SJC, Bao Tin Manh Hai, PNJ, Bao Tin Minh Chau, and DOJI are trading at a buying price of 178 million VND/ounce and a selling price of 181 million VND/ounce.

Phu Quy SJC gold bars are being bought at 176 million VND/ounce and sold at 179 million VND/ounce, unchanged in both directions compared to yesterday afternoon.

Following the same trend as gold bars, the price of gold rings remained unchanged today compared to yesterday's closing price.

Specifically, SJC, DOJI, and PNJ all listed gold rings at 177.5 - 180.5 million VND/ounce (buying price - selling price), maintaining the same price in both directions.

Bao Tin Minh Chau is trading gold rings at 178 - 181 million VND/ounce (buying price - selling price), unchanged in both directions compared to yesterday morning.

The buying price for 999.9 pure gold rings from Bao Tin Manh Hai brand remains unchanged at 176.5 million VND/ounce compared to yesterday afternoon.

Phu Quy brand gold rings are listed at 175.7 - 178.7 million VND/ounce for buying and selling, remaining stable in both directions.

Source: https://baolangson.vn/gia-vang-hom-nay-chieu-17-2-vang-the-gioi-tiep-tuc-giam-5078068.html