World gold continued to experience an exciting week, with the official price reaching 2,817 USD/ounce, setting a new historical record.

Gold prices increased sharply due to the great impact of instability in the global financial market and geopolitical situation around the world, combined with strong buying power of investors.

Although the market is currently overbought, analysts believe that in the next 10 days, gold prices will continue to increase strongly and there will be no profit-taking activities.

Naeem Aslam, chief investment officer at Zaye Capital Markets, said he remains bullish on gold over the next 10 days, even if Trump's tariffs are implemented.

Early morning on February 2 (Vietnam time), President Trump signed an executive order imposing a new 25% tax on imported goods from Mexico and Canada, and a 10% tax on imported goods from China from February 4.

Previously, some analysts said that gold investors did not react strongly to this policy, because they had predicted this moment would happen.

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World gold price is forecast to increase in the next 10 days. Photo: Kitco

Adam Button, head of currency strategy at Forexlive, said that nothing can stop the gold price rise at the moment. Previously, analysts and gold investors were "immune" to Mr. Trump's tax policies.

According to Naeem Aslam, Trump’s tax policy could increase the value of the US dollar, putting downward pressure on gold. However, if the tax policy has a smaller impact, gold could maintain its upward momentum. In the worst case, a drop in gold prices is not a cause for concern. Many people see any decline as a buying opportunity.

Colin Cieszynski, chief market strategist at SIA Wealth Management, is also bullish on gold over the next 10 days. He said gold has just finished a consolidation phase and has broken out to a new record high. Technically, it looks like gold is starting a new, solid long-term rally despite the strong US dollar.

Analysts say that Mr. Trump's tax policy on three countries is causing economic and political instability globally, creating conditions for investors to trust gold more.

This is an increasingly solid support for the gold market in the short and medium term. Gold will continue to be a safe haven for all global uncertainties.

Daniel Pavilonis, senior commodities broker at RJO Futures, believes that these uncertainties will push gold prices to $3,000 an ounce by the end of the first quarter of 2025. Gold will only fall if Mr. Trump’s tax policies are strong enough to negatively impact the US stock market, causing stock prices to fall sharply. At that time, gold will be sold off to pay off stock mortgage loans.

In the domestic market, at the beginning of the new year session, SJC gold rings and bars are expected to be active again after a long break.

Gold price today February 2, 2025 set a new peak, demand skyrocketed Gold price today February 2, 2025, the world gold market continuously set new peaks in the context of soaring demand for shelter.