Gold price on February 19, 2025: Continue to climb

DNVN - Following the trend of the world market, when increasing strongly in both trading directions and reaching the threshold of 92 million VND/tael.

Gold price on February 17, 2025: World and domestic gold prices closed the week with strong increases

At 9:05 a.m., Saigon Jewelry Company (SJC) announced the selling price of SJC gold bars at 89.7 - 92 million VND/tael (buy - sell), corresponding to an increase of 1.1 million VND/tael for buying and 900,000 VND/tael for selling compared to the end of the previous session.

Meanwhile, DOJI Gold and Gemstone Group adjusted the selling price of SJC gold bars to VND89.4 - 91.7 million/tael (buy - sell), VND800,000/tael and VND600,000/tael higher than yesterday, respectively.

Following the upward trend, SJC gold rings also recorded a sharp increase in both trading directions. The listed price of Saigon Jewelry Company SJC for gold rings is 89.4 - 91.5 million VND/tael (buy - sell), an increase of 800,000 VND/tael and 600,000 VND/tael respectively compared to the previous session.

In the international market, the precious metal increased by more than 1% in the trading session on February 18. Concerns about economic growth, stemming from the uncertainty surrounding US President Donald Trump's tax policy, have boosted demand for holding gold as a "safe haven" asset.

At 2:11 a.m. on February 19 (Vietnam time), the spot gold price increased by 1.2% to $2,932.79/ounce, after reaching a historical high of $2,942.70/ounce last week. The US gold futures price ended the session up 1.7% to $2,949/ounce.

Jim Wyckoff, senior analyst at Kitco Metals, said the market is seeing increased demand for “safe havens” due to uncertainties from the Trump administration, while technical charts also show gold prices trending upward.

Since taking office last month, Trump has rapidly changed the global trade landscape through a series of new tariff policies. Currently, the US administration is promoting plans to impose reciprocal tariffs on countries that tax US goods.

According to forecasts from experts at Commerzbank, buying demand from central banks will likely continue to be a driving force supporting gold prices in the coming time.

Cao Thong (t/h)

Source: https://doanhnghiepvn.vn/kinh-te/gia-vang-ngay-19-2-2025-tiep-tuc-leo-cao/20250219105049168