A vertical fall, yet still predicted to be unexpected.

(NLĐO) – Despite a sharp drop at the end of last week, both analysts and experts unanimously predict that gold prices will continue to rise today.

On the weekend of February 16th, the price of SJC gold bars was listed by some businesses in Ho Chi Minh City at 87.3 million VND/ounce for buying and 90.3 million VND/ounce for selling, unchanged from the previous weekend. However, over the past week, the market has witnessed dramatic fluctuations in gold prices, with daily increases and decreases of up to one million VND/ounce.

The price of gold bars peaked at 93.1 million VND/ounce on February 11th, but just two days later, the price plummeted to 90.2 million VND/ounce (selling price). The buying price also dropped sharply to 86.7 million VND/ounce.

Similarly, the price of gold rings and 99.99% pure gold jewelry also marked a lively trading week. Gold rings were listed by businesses at 87.3 million VND/ounce for buying and 90.1 million VND/ounce for selling, an increase of 200,000 VND/ounce compared to the end of last week. The price of gold rings increased faster and fluctuated more strongly than gold bars, closely following world prices.

Domestic gold prices fluctuated sharply last week.

While demand for gold hasn't surged dramatically, the sharp fluctuations in global gold prices have led to continuous adjustments in domestic gold prices. Another notable development this past week was the narrowing of the price difference between domestic and international gold, with the global price sometimes falling below SJC gold bars and gold rings by less than 1 million VND per ounce – a record low in recent years.

On the international market, gold closed the trading week at $2,883 per ounce, down approximately $50 per ounce after a sharp decline. The precious metal faced strong profit-taking pressure after weeks of rapid gains. Despite the sharp drop, both analysts and investors believe gold prices will continue to rise today, according to Kitco's survey on gold price trends for the coming week.

Gold prices reached a record high of 93.1 million VND/ounce, but only for about an hour on the morning of February 11th.

Specifically, in the Wall Street survey, 14 analysts participated, with 71% believing that the price of gold will continue to rise, only 14% predicting a decrease, and the remaining 14% forecasting that the price will remain stable.

Similarly, in an online survey on Main Street, 201 investors participated, with 65% predicting a further increase in gold prices, only 24% predicting a decrease, and the remainder predicting prices would remain stable.

Analysts believe that optimists are still in control of the market and gold prices could reach higher levels after the correction. The next target could be $3,000 per ounce, with the upward trend unbroken and strong. Inflation in the US has not cooled; the impact of US tariff policies on other countries and concerns about escalating global trade tensions… will support further gold price increases.

However, some other analysts believe that gold prices need a short-term correction before continuing to rise. Currently, the world gold price, converted at the listed exchange rate, is approximately 88.9 million VND/ounce, only about 1 million VND/ounce lower than SJC gold bars and gold rings.

Source: https://nld.com.vn/gia-vang-hom-nay-16-2-roi-thang-dung-van-duoc-du-bao-bat-ngo-19625021608444483.htm