As of 8:00 p.m. on February 18 (Vietnam time), the spot gold price today on the international market was at $2,922/ounce. Gold for April 2025 delivery on the Comex New York floor was at $2,933/ounce.

The world gold price on the night of February 18 was about 41.6% higher (859 USD/ounce) than at the beginning of 2024. The world gold price converted to the bank USD price was 91.4 million VND/tael, including taxes and fees, about 280 thousand VND/tael higher than the domestic gold price as of the end of the afternoon session on February 18.

World gold prices rose in the context of the USD having previously had a sharp decline. The DXY index fell below the threshold of 106.9 points.

The world gold price has increased sharply again mainly due to the high demand for buying at the bottom after the decline at the end of last week. New forecasts from large corporations have also contributed to the increase in the price of precious metals.

The instability in the international market, coming from the policies of the Donald Trump administration with conflicts around the world, including in Ukraine... is a strong supporting factor for gold.

Domestically, the gold price was lower than the converted international gold price for the second time in a week. In 2024, the domestic gold price was much higher than the world price most of the time, sometimes 18-20 million VND/tael higher.

By the end of the trading session on February 18, the price of 9999 gold bars at SJC and Doji was listed at VND88.6-91.1 million/tael (buy - sell), an increase of VND1 million/tael for buying and an increase of VND500,000 for selling compared to the close of the previous session.

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World gold prices increase strongly again. Photo: HH

SJC announced the price of 1-5 ring gold at only 88.6-90.9 million VND/tael (buy - sell), an increase of 1 million VND/tael for buying and 500,000 VND for selling compared to the previous session. Doji listed the price of 9999 round plain ring gold at 89.6-91.1 million VND/tael (buy - sell), an increase of 500,000 VND/tael for both buying and selling compared to the previous session's close.

The difference between buying and selling gold prices at businesses has narrowed to 2.5 million VND/tael, compared to the previous level of 3.5 million VND.

The converted world gold price is at a very high level in the context of the USD/VND exchange rate in Vietnam being close to its historical peak: 25,340 VND (buy) and 25,700 VND (sell).

Gold price forecast

Gold is forecast to continue to increase in price in 2025 and may reach a new historical peak due to the huge demand for this commodity in the context of a rather uncertain world future.

Goldman Sachs has just raised its forecast for the world gold price by the end of this year to 3,100 USD/ounce. Even if policy instability remains high and investors are concerned about US import tariffs, the gold price could reach 3,300 USD (equivalent to 103 million VND/tael) due to speculation.

According to Goldman Sachs, due to high demand for gold from central banks and gold ETFs also increased purchases when interest rates fell. Goldman Sachs forecasts average gold demand from central banks to increase to 50 tons a month, instead of the previous 41 tons.

Citi Bank also recently raised its gold price forecast for the next three months, from $2,800 to $3,000 an ounce. UBS Bank forecasts that gold could reach $3,000 by the end of this year.

Investors are now waiting for news on the US-Russia talks to end the conflict in Ukraine. Gold is the top choice at the moment.

Gold prices could surge if negotiations fail, or if the results are not as expected, as well as if there are negative reactions from Ukraine and the European Union (EU). On the contrary, gold has grounds to fall.

However, the world still has many upcoming wars, from trade, currency to technology, between the US and many countries, including China. Therefore, the forecast of gold increase is what most organizations and investors think.

Gold price forecast for the next 10 days: The more Trump 'throws punches', the more attractive gold becomes. President Trump's threats to the world through strong trade tariffs are creating global political and economic instability. Thereby making gold more and more attractive.