In the world, at 8:00 p.m. on February 4 (Vietnam time), the spot gold price today was at 2,838 USD/ounce, reaching a new historical peak. Gold for April 2025 delivery on the Comex New York floor was at 2,870 USD/ounce.

The world gold price on the night of February 4 was about 37.6% higher (775 USD/ounce) than at the beginning of 2024. The world gold price converted to the bank USD price was VND 87.6 million/tael, including taxes and fees, about VND 2.5 million/tael lower than the domestic gold price as of the end of the afternoon session on February 4.

Gold prices hit a new record high amid investors' concerns that global instability could break out at any moment. The USD cooled down after Donald Trump unexpectedly postponed tariffs on Mexico and Canada. In addition, the US announced positive manufacturing data.

Brighter signals about the US economy have led many to believe that the US Federal Reserve (Fed) will return to its plan to lower interest rates after a pause in its meeting at the end of January. When the Fed lowers interest rates, the USD will fall, which is positive news for gold.

Both Mexico and Canada have agreed to step up border enforcement efforts to combat immigration and drug trafficking. The U.S. will suspend a 25% tariff on both countries for 30 days.

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World gold prices soar to new heights. Photo: HH

Despite delaying the tariff increase with Mexico and Canada, Mr. Trump kept the 10% tariff on China. He said that if China did not control the flow of fentanyl into the United States, “the tariffs would be significantly higher.”

Tensions in Ukraine and the Middle East have yet to be resolved. The world is also shaken by technological changes, with a potential war in this field after China's DeepSeek launched its artificial intelligence (AI) model DeepSeek R1.

In the domestic market, at the end of the trading session on February 4, the price of 9999 gold bars at SJC and Doji was listed at 87.6-90.1 million VND/tael (buy - sell), an increase of 300,000 VND in the selling price compared to the previous session. During the session, SJC gold reached 90.6 million VND.

Thus, after only the first 2 days of the new year, SJC gold increased by 2 million VND/tael, compared to before Tet holiday.

The price of gold rings on February 4th exceeded 90 million VND/tael for the first time as the God of Wealth Day is approaching. This is an unprecedented high price for gold rings.

Specifically, SJC announced the price of gold rings of type 1-5 at only 87.6-89.6 million VND/tael (buy - sell). Doji listed the price of 9999 smooth round gold rings at 88-90 million VND/tael (buy - sell), an increase of 500,000 VND/tael for selling compared to the previous session. Bao Tin Minh Chau also listed at the same price.

Despite listing gold ring prices at record highs, many businesses do not have enough gold rings and gold bars to sell.

Gold Price Forecast

The gold market in the first days of the new year At Ty fluctuated unpredictably when the cash flow continuously reversed between investment channels, from stocks, USD, to cryptocurrencies.

Normally, gold tends to increase if the financial and commodity markets are unstable. However, there are also cases where gold can decrease according to a certain investment channel when investors are forced to sell gold to cover losses for those assets.

Overall, gold is still on an upward trend amid pressure on the USD as the US is in a cycle of interest rate cuts. Instability and rising inflation are also supportive factors for gold.

In its latest move, China has retaliated against Mr. Trump’s tariffs. Beijing announced it would impose tariffs of 10-15% on some products imported from the United States from February 10.

Many forecasts still believe that gold will reach $3,000/ounce by the end of this year.

Gold price forecast for the next 10 days: Mr. Trump deals a strong blow, a fulcrum for gold to break out? Analysts believe that gold prices will continue to increase in the next 10 days, after President Trump signed an order to impose tariffs on Canada, Mexico and China. Gold rings and SJC are expected to be active at the beginning of the new year session of At Ty.