At the end of the session on February 15, the price of gold bars at SJC closed at 87.3-90.3 million VND/tael (buy - sell), down 1 million VND per tael in both buying and selling compared to the previous trading session.

The price of SJC 1-5 chi gold rings is listed at 87.3-90.1 million VND/tael (buy - sell), down 1 million VND per tael in both buying and selling compared to the previous session's close.

The price of 9999 gold rings at Doji closed the session at 88.3-90.3 million VND/tael, down 1 million VND per tael for buying and down 800,000 VND per tael for selling compared to the previous day's closing price.

Spot gold closed the trading week at $2,882 an ounce. Gold futures for April 2025 on the Comex New York floor were at $2,900 an ounce.

After a series of consecutive records, world gold prices are slowing down, ending the week below the $2,900/ounce mark due to strong profit-taking activities.

Easing geopolitical tensions are reducing gold's appeal as a safe haven, said Phillip Streible, chief market strategist at Blue Line Futures.

President Donald Trump spoke by phone with Russian President Vladimir Putin this week about the possibility of ending the war in Ukraine. At the same time, while Trump continues to threaten the world with aggressive trade tariffs, he has held off on any major action until a country-by-country review is completed in April.

Earlier this week, Mr. Trump announced a 25% tariff on all imported steel and aluminum.

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World gold prices fall. Photo: Kitco

“Gold’s steady rise amid economic and geopolitical uncertainty and President Trump’s indecision is a positive sign,” said Ricardo Evangelista, senior analyst at ActivTrades. Analysts expect gold to continue to rally as U.S. policies remain unpredictable.

The US consumer price index showed annual inflation rose 3.0% in January, higher than expected. The head of the US Federal Reserve (Fed) reiterated the central bank's relatively neutral stance. He said the Fed is in no rush to cut interest rates because inflation risks remain high and the labor market remains strong.

Gold Price Forecast

The gold market has had a strong start to the year, with prices rising to a new record high above $2,900 an ounce, up around 11% year-to-date.

Gold prices held steady in a challenging week, supported by hotter-than-expected CPI data and a dovish Fed stance, amid persistent inflation concerns and safe-haven demand, said Naeem Aslam, chief investment officer at Zaye Capital Markets.

Typically, higher inflation and a delay in interest rate cuts weigh on gold, but the risk of potential inflation is supportive of gold prices due to economic uncertainty, Aslam said. Ongoing geopolitical tensions and central bank buying continue to underpin gold.

Bank of America remains bullish on gold and maintains its forecast for prices to hit $3,000 an ounce.

Concerns about budget deficits, trade disputes, wars, sanctions and asset freezes by the US, central banks and other investors have pushed spot gold prices to record levels, said Michael Widmer, commodity strategist at Bank of America.

Looking ahead, as central bank gold buying dominates the market, gold prices could hit $3,500 an ounce.