On the evening of the first day of the Lunar New Year, gold prices dropped sharply.

On the evening of February 17th (the first day of the Lunar New Year), the world gold price was trading at $4,920 per ounce, a drop of $73 per ounce compared to the morning.

Compared to yesterday, each ounce of gold has fallen by approximately $100, reaching its lowest level in about a week.

During today's trading session, the price of gold plummeted at one point, breaking through the $4,900/ounce mark and falling as low as $4,872/ounce. However, bargain-hunting demand from the market helped the precious metal recover to above $4,900/ounce.

However, compared to the peak price of gold at over $5,600 per ounce at the end of January 2026, the price of gold has still fallen by about 13%.

Regarding domestic gold prices, as of the end of today, some stores are quoting SJC gold bars at a buying price of 177.5 million VND/ounce and a selling price of 180.5 million VND/ounce.

The domestic gold market is closed for the Lunar New Year holiday. The price of SJC gold bars varies between different vendors and is less volatile. Therefore, the price difference with the world market has widened to 25 million VND/ounce (converted to the world market price using today's listed exchange rate).

Following the sharp decline in gold prices, silver also experienced a sell-off in international markets, falling sharply to around $74.81 per ounce, a 2.8% decrease from the previous session.

The domestic silver market is closed for the Lunar New Year holiday. However, with the sharp drop in global silver prices, many people who lined up to buy silver before the holiday are now losing sleep worrying that the prices of Phu Quy and SBJ silver will also fall.

Currently, compared to the peak price of 120-130 million VND/kg of silver at the end of January, the price of silver has fallen by as much as 25%.

Giá vàng giảm mạnh mùng 1 Tết 2026: Thị trường kim lọai qúy biến động - Ảnh 2. — Gold prices continued to fall in international markets later today.

While gold prices are predicted to trade around $5,000 per ounce in the near future, silver is expected to experience a more positive recovery.

According to the latest report from JP Morgan Global Research, the average price of silver will reach $81 per ounce by 2026, with a peak average price of $85 per ounce in the fourth quarter. Increased investment demand from China is significantly impacting price formation across the entire metals market, including silver, and investors should closely monitor this factor.