The price of gold on the Kitco floor at 9:00 p.m. on February 20 (Vietnam time) was trading at $2,942.1/ounce, up 0.9% from the beginning of the session. The price of gold futures for April 2025 delivery on the Comex New York floor was trading at $2,958.3/ounce.

At the beginning of the trading session on February 20 (US time), the world gold price continued to set a new record of 2,954.5 USD/ounce. The gold price then decreased, lower than the previous record of 2,947 USD/ounce.

In recent sessions, world gold prices have fluctuated within a large range amid economic instability pressure due to President Trump imposing tariffs on a number of countries exporting goods to the US.

Gold’s rally was fueled by President Trump’s comments on new tariffs on autos and pharmaceuticals, which could pave the way for gold to hit $3,000 an ounce, said Zain Vawda, market analyst at MarketPulse (OANDA).

Mr. Trump has imposed a 10% tariff on imports from China, and a 25% tariff on steel and aluminum. This time, he has announced that he will impose tariffs of about 25% on imported cars, as well as semiconductors and pharmaceuticals.

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World gold hits new peak. Photo NH

Giovanni Staunovo, an analyst at UBS, said central banks will continue to buy gold in the near future. This will benefit gold in the future.

Another factor that could influence the direction of gold is the US Federal Reserve's stance on interest rates. Officials at the US central bank are still uncertain about the impact of tariffs on inflation.

According to LSEG (a UK-based financial information and securities trading group), traders now expect the Fed to have at least one 25 basis point interest rate cut and there is a 44% chance of another cut in December.

In the domestic market, at the end of the session on February 20, the price of 9999 gold bars at SJC was 90 million VND/tael (buy) and 92.3 million VND/tael (sell). Doji listed it at 90 million VND/tael (buy) and 92.3 million VND/tael (sell).

SJC announced the price of gold rings of type 1-5 at only 89.9-92 million VND/tael (buy - sell). Doji listed the price of 9999 smooth round gold rings at 90.6-92.3 million VND/tael (buy - sell).

Gold Price Forecast

Goldman Sachs raised its forecast for gold prices by the end of 2025 from $2,890 an ounce to $3,100 an ounce. The main reason is that demand for gold from central banks remains high. In addition, if concerns about the US government's ability to repay its debt increase, gold prices could rise another 5% to $3,250 an ounce by December 2025.

In a recent research report, Adam Turnquist, chief strategist at LPL Financial, said that in the short term, gold is overbought and susceptible to profit-taking pressure, which could push prices back to support levels near $2,800 an ounce. In the long term, even if it hits $3,000 an ounce, the precious metal is still quite cheap.

Gold price today 20/2/2025 jumped to a new historical peak, gold rings broke the record. Gold price today 20/2/2025 in the world increased dramatically, at one point setting a new record of over 2,950 USD/ounce. Domestically, SJC gold bar price climbed to 92.3 million VND/tael; gold rings broke the old record.