World gold has just recorded an exciting week. Spot gold prices ended the week close to a record high, reaching $2,771.1/ounce, up sharply from $2,702/ounce at the beginning of the week. February gold futures reached $2,782.8/ounce.

With the positive developments of the past week, analysts believe that the gold market will continue to flourish in the next 10 days. It is likely that the gold price will break the record price of 2,788 USD/ounce (set at the end of October 2024) and exceed 2,800 USD/ounce.

Gold rallied sharply last week, supported by economic uncertainty following US President Donald Trump's speech to global business and political leaders at the annual World Economic Forum in Davos, Switzerland.

In his comments, Mr. Trump called on global central banks to lower interest rates. Trump's comments contradict the current economic situation when inflation is high. If interest rates are reduced, inflation will increase again.

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World gold prices are forecast to set a new record in the next 10 days. Photo: HH

In recent weeks, the US Federal Reserve (Fed) has repeatedly warned about the risk of rising inflation as it shortens its monetary easing cycle.

Naeem Aslam, chief investment officer at Zaye Capital Markets, said he does not support the Fed’s hawkish stance on monetary policy. He is concerned that the conflict between the White House chief and the Fed is causing economic instability. “These conflicts have caused gold prices to surge in recent times and could break the record above $2,800/ounce in the next 10 days,” said Naeem Aslam.

The divergence between Trump and the Fed is creating serious economic uncertainty, said Ole Hansen, head of commodity strategy at Saxo Bank. Gold has benefited from its status as a safe haven asset. Hansen predicted that with the new rally, $2,800 an ounce could be just the beginning.

Mr. Ole Hansen added that in the next 10 days, gold will not face any risks, and will even have great momentum thanks to this instability. This is an opportunity for investors who are quick to jump into the gold market.

Although gold is benefiting from a weaker dollar, analysts warn that inflation remains high. Fed Chairman Jerome Powell will be cautious in cutting interest rates, which is detrimental to gold in the long term.

Lukman Otunuga, chief market analyst at FXTM, said gold is benefiting from political and economic uncertainty in the short term. But in the long term, gold depends largely on the Fed's interest rate policy. If inflation persists, the Fed will delay its rate cut cycle, which puts gold at a disadvantage.

In the domestic market, the price of SJC gold and gold rings increased sharply. In the last session before the market closed for many days to welcome the new year of At Ty, SJC gold approached 89 million VND/tael.

Gold price today January 26, 2025 approaches historic high Gold price today January 26, 2025, world spot gold price approaches historic high set in October 2024. Many new policies of President Donald Trump affect the financial market.