Gold prices today (afternoon of February 18): World gold prices surpass $4,900/ounce.

Today's gold prices (afternoon of February 18th) show a gradual recovery after a sharp decline. In the early afternoon of February 18th, Vietnam time, the world gold price listed on Kitco stood at over $4,900 per ounce.

Domestically, brands such as SJC, Bao Tin Manh Hai, DOJI , PNJ, and Bao Tin Minh Chau all listed gold bar prices at 178-181 million VND/ounce for buying and selling. Phu Quy traded gold bars at 176-179 million VND/ounce for buying and selling.

Gold prices today (afternoon of February 18): World gold prices surpass $4,900 per ounce. In the photo: Gold bars in Incheon, South Korea. Photo: Yonhap/VNA

The global gold market is experiencing unusual volatility since the historic sell-off earlier this month. The Bloomberg Dollar Spot Index rose as much as 0.4% on February 17th, before narrowing its gains to close 0.2% higher than the previous trading session. A stronger dollar typically puts direct downward pressure on assets priced in that currency, such as gold.

There are valid arguments against the view that gold prices will continue to rise, but according to leading experts at JP Morgan, that view remains inaccurate.

“Gold has experienced a dramatic price surge over the past five years, soaring more than 170%,” wrote Kriti Gupta, CEO of JP Morgan Private Bank, and Justin Biemann, global investment strategist. “There are many reasons for this, but the biggest driver may be a new era of geopolitical uncertainty and fragmentation, encouraging investors to buy the precious metal,” the experts noted.

According to experts, concerns about currency devaluation, growth, inflation, etc., will continue to make gold a favored precious metal for investors during times of crisis.

Despite significant price volatility at the end of January, precious metals, oil, and industrial metals all recorded gains during the month, and as volatility eases, gold and other key commodities will benefit from supportive fundamentals, according to Dominic Schnider, Head of Commodities & Foreign Exchange Investments for Asia Pacific at UBS Wealth Management.

“We forecast gold prices will continue to rise, potentially reaching $6,200 per ounce by mid-year, supported by central bank and investor demand, large budget deficits, lower real interest rates in the US, and geopolitical risks,” Dominic Schnider stated.

Source: https://baolangson.vn/gia-vang-hom-nay-chieu-18-2-vang-the-gioi-vuot-nguong-4-900-usd-ounce-5078169.html