Gold price on Kitco floor at 9:00 p.m. (January 30, Vietnam time) was trading at 2,784.3 USD/ounce, up 1.13% compared to the beginning of the session. Gold futures price for February 2025 delivery on Comex New York floor was trading at 2,795.7 USD/ounce.

At the beginning of the trading session on January 30 (US time), the world gold price increased rapidly, on track to approach the record high of 2,788 USD/ounce set at the end of October 2024. Gold prices were strongly supported by investors actively buying in the context of the European Central Bank (ECB) just lowering interest rates by another 25 basis points, from 3% to 2.75%.

However, at present, gold is under pressure from factors such as the US Federal Reserve's (Fed) interest rate not decreasing, the value of the USD and US Treasury bond yields all tend to increase.

The yield on the 10-year US Treasury note rose, making the precious metal less attractive.

According to independent metals trader Tai Wong, the recent delay in the US central bank's interest rate cut cycle is putting slight pressure on gold. Tai Wong said that the Fed kept interest rates unchanged and did not provide many details on when it could cut again.

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World gold price approaches record level. Photo: HH

Peter Grant, vice president and senior metals strategist at Zaner Metals, said the Fed's tough decision to cut interest rates showed the extent to which it asserted its independence from President Donald Trump's request to lower interest rates.

Investors now expect the Fed to delay a rate cut until June.

Gold has entered a narrow trading range, with the market pausing to assess the overall impact of the Fed's recent policy meeting on the next direction of gold, according to independent analyst Ross Norman.

In the domestic market, at the close of the session on January 25 before the Lunar New Year holiday, the price of 9999 gold bars at SJC and Doji was VND 86.8 million/tael (buy) and VND 88.8 million/tael (sell).

SJC announced the price of gold rings of type 1-5 at only 86.3-88 million VND/tael (buy - sell). Doji listed the price of 9999 smooth round gold rings at 86.6-88.1 million VND/tael (buy - sell).

Gold Price Forecast

Gold’s bullish outlook may have changed following the emergence of Chinese AI startup DeepSeek, analysts predict. Investors are assessing the implications of this tech storm, with the focus on US-China relations, including trade and technology.

Some other experts predict that if President Donald Trump continues to maintain his plan to impose tariffs on Canada and Mexico, it will increase commodity prices, forcing the Fed to maintain high interest rates to control prices, which could affect the attractiveness of gold in the long term.

Gold price today January 30, 2025 increased again after signals from Donald Trump Gold price today January 30, 2025 on the international market increased again after falling due to the shock of Chinese AI startup DeepSeek. Signals from Mr. Donald Trump and the meeting of technology corporations supported gold.