The price of gold on the Kitco floor at 8:00 p.m. (February 10, Vietnam time) was trading at $2,902.7/ounce, up 1.41% from the beginning of the session. The price of gold futures for April 2025 delivery on the Comex New York floor was trading at $2,935.1/ounce.

At the beginning of the trading session on February 10 (US time), the world gold price increased sharply, firmly above 2,900 USD/ounce, due to the strong increase in buying demand from investors looking for a safe haven.

Commenting on the gold price in the coming time, most experts and retailers are optimistic about the market continuing to improve. According to James Stanley, senior market strategist of Forex, it is difficult to reduce the price in the current context, because there is still no sign that the gold's upward momentum is over.

Adrian Day, chairman of Adrian Day Asset Management, stressed that the momentum that drove gold prices over the past year is still intact. According to him, gold will enter a new bull cycle.

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World gold prices increase sharply. Photo: Hoang Ha

Analysts said that after the speech at the first monetary policy meeting in 2025 by the Chairman of the US Federal Reserve (Fed) Jerome Powell, the market is waiting for the next statements of the head of the US Central Bank at the upcoming congressional hearing.

In addition, gold traders also pay attention to the US consumer price index (CPI) report for January, the producer price index (PPI), the number of weekly unemployment claims and the January retail sales report to make comments on the next direction of gold.

While upcoming jobs and CPI data will likely continue to support the US dollar and US yields, putting pressure on gold, Bannockburn Global Forex CEO Marc Chandler said that rising geopolitical concerns will continue to drive demand for gold.

In the domestic market, at the end of the session on February 10, the price of 9999 gold bars at SJC was VND88.3 million/tael (buy) and VND91.3 million/tael (sell). Doji listed the price of gold bars at VND88.3 million/tael (buy) and VND91.3 million/tael (sell).

SJC announced the price of gold rings of type 1-5 at only 88-90.7 million VND/tael (buy - sell). Doji listed the price of 9999 smooth round gold rings at 89.2-91.2 million VND/tael (buy - sell).

Gold Price Forecast

FxPro market analyst Alex Kuptsikevich predicts that the gold bull run has just begun and that $3,000 an ounce is just the beginning. He predicts that the price of the precious metal is likely to reach $3,400 an ounce between August and October this year.

Adrian Day even predicted that gold prices will reach $3,500-4,000/ounce in the next 12 months and emphasized that "this is just the beginning of the precious metal before entering a new growth phase".

Mr. Trump's new attack, gold price reaches historic peak . World gold price jumps to historic peak, nearly reaching 2,900 USD/ounce. Domestically, SJC gold price climbs, while gold ring breaks record, reaching 91.2 million VND/tael. Gold price increases even though God of Wealth's day has passed.