Gold price on February 21, 2025: Sideways despite world market setting record

DNVN - On the morning of February 21, domestic gold prices remained unchanged despite the world gold price reaching its highest level ever.

At 9:00 a.m., the price of SJC gold bars was listed by Saigon Jewelry Company (SJC) and DOJI Jewelry Group at 90 - 92.3 million VND/tael (buy - sell), unchanged from the previous trading session.

Bao Tin Minh Chau Company also kept the price of gold bars at 90.6 - 92.4 million VND/tael (buy - sell), no adjustment compared to the previous session.

The price of gold rings also remained unchanged. Saigon Jewelry Company SJC maintained the listed price at VND89.9 - 92 million/tael (buy - sell), unchanged from yesterday.

Similarly, Bao Tin Minh Chau Company listed the price of gold rings at 90.6 - 92.4 million VND/tael (buy - sell), no change compared to the previous trading session.

Meanwhile, in the international market, gold prices continued to set records as investors worried about global trade tensions and sought safe havens.

Specifically, the spot gold price at one point soared to $2,954.69/ounce, marking the 10th time this year that it has set a new peak. The US gold futures price also increased by 0.7%, reaching $2,956.10/ounce at the end of the trading session. Since the beginning of the year, the gold price has increased by about 12%.

Peter Grant, vice president and senior metals strategist at Zaner Metals, said that the prolonged trade tensions continue to raise concerns about inflation and economic growth, causing increased investment demand for gold.

President Trump recently announced that he will announce new tariffs on lumber, cars, semiconductors and pharmaceuticals in the near future.

Since taking office on January 20, Mr. Trump has implemented a 10% tariff on imports from China and signed an executive order imposing a 25% tariff on steel and aluminum.

Phillip Streible, a strategist at brokerage Blue Line Futures, said the continued buying of gold by central banks since the beginning of the year has been a key factor in keeping gold prices high. In addition, the market has also seen strong capital flows into gold ETFs for three consecutive days.

Cao Thong (t/h)

Source: https://doanhnghiepvn.vn/kinh-te/gia-vang-ngay-21-2-2025-di-ngang-du-thi-truong-the-gioi-lap-ky-luc/20250221100810299