Gold price today February 7, 2025: On the eve of God of Wealth's day, gold prices plummeted, people rushed to sell, speculative buyers could suffer heavy losses in a few hours. The gold rush is also "sizzling" in the world market, causing analysts to warn of signs of an impending economic collapse.
| 1. PNJ - Updated: 01/01/1970 08:00 - Website time of supply - ▼ / ▲ Compared to yesterday. | ||
| Type | Buy | Sell |
| HCMC - PNJ | 86,700 ▼1500K | 89,500 ▼1200K |
| HCMC - SJC | 86,400 ▼1600K | 89,600 ▼1400K |
| Hanoi - PNJ | 86,700 ▼1500K | 89,500 ▼1200K |
| Hanoi - SJC | 86,400 ▼1600K | 89,600 ▼1400K |
| Da Nang - PNJ | 86,700 ▼1500K | 89,500 ▼1200K |
| Da Nang - SJC | 86,400 ▼1600K | 89,600 ▼1400K |
| Western Region - PNJ | 86,700 ▼1500K | 89,500 ▼1200K |
| Western Region - SJC | 86,400 ▼1600K | 89,600 ▼1400K |
| Jewelry gold price - PNJ | 86,700 ▼1500K | 89,500 ▼1200K |
| Jewelry gold price - SJC | 86,400 ▼1600K | 89,600 ▼1400K |
| Jewelry gold price - Southeast | PNJ | 86,700 ▼1500K |
| Jewelry gold price - SJC | 86,400 ▼1600K | 89,600 ▼1400K |
| Jewelry gold price - Jewelry gold price | PNJ 999.9 Plain Ring | 86,700 ▼1500K |
| Jewelry gold price - Jewelry gold 999.9 | 86,700 ▼1500K | 88,100 ▼1500K |
| Jewelry gold price - Jewelry gold 999 | 86,610 ▼1500K | 88,010 ▼1500K |
| Jewelry gold price - Jewelry gold 99 | 86,320 ▼1480K | 87,320 ▼1480K |
| Jewelry gold price - 916 gold (22K) | 79,800 ▼1370K | 80,800 ▼1370K |
| Jewelry gold price - 750 gold (18K) | 64,830 ▼1120K | 66,230 ▼1120K |
| Jewelry gold price - 680 gold (16.3K) | 58,660 ▼1020K | 60,060 ▼1020K |
| Jewelry gold price - 650 gold (15.6K) | 56,020 ▼970K | 57,420 ▼970K |
| Jewelry gold price - 610 gold (14.6K) | 52,490 ▼920K | 53,890 ▼920K |
| Jewelry gold price - 585 gold (14K) | 50,290 ▼880K | 51,690 ▼880K |
| Jewelry gold price - 416 gold (10K) | 35,400 ▼620K | 36,800 ▼620K |
| Jewelry gold price - 375 gold (9K) | 31,790 ▼560K | 33,190 ▼560K |
| Jewelry gold price - 333 gold (8K) | 27,820 ▼500K | 29,220 ▼500K |
Update gold price today 7/2/2025
World gold prices continue to hit new record highs due to increasing global tensions.
According to the World and Vietnam Newspaper at 6:50 p.m. on February 6 (Hanoi time), the world gold price traded on the Kitco electronic floor was at 2,869.30 - 2,870.30 USD/ounce , up 2.9 USD/ounce compared to the previous trading session. The gold price for April delivery increased by 22.10 USD/ounce at times, trading at 2,898.00 USD/ounce.
Gold prices surged to a new record high as safe-haven demand continued to push the yellow metal into uncharted territory, with traders and investors on edge amid the unpredictable and potentially disruptive policy actions of new US President Donald Trump.
In particular, the US-China trade relationship is as tense as a bowstring, tensions are escalating every day as the two largest economies in the world this week have continuously increased tariffs, launched attacks and retaliated directly against each other's economies.
President Trump’s recent policy moves have also overshadowed regular US economic data releases. In the US economic employment report for January, the key non-farm payrolls are expected to increase by 169,000 compared to the 256,000 increase in December’s report.
Major overseas markets saw the dollar index fall. Nymex crude oil futures were lower, trading around $71.00 a barrel. The yield on the 10-year US Treasury note is currently around 4.4%.
Grant Williams, author and host of the Grant Williams Podcast, warned investors that the changing geopolitical landscape and currency devaluations represent a significant shift in the global order. “It looks like we’re getting to a point where people are going to start investing money in commodities again,” said analyst Williams on the sidelines of the Vancouver Resources Investment Conference.
He also noted that the stock market, especially technology, is overvalued and “currency devaluation is happening at a much faster pace and people are going to want to own physical assets.” Williams pointed out that “precious metals, especially gold, are a safe haven in the current environment. There is a great tailwind behind precious metals, especially gold.”
Domestic gold prices fluctuated violently before God of Wealth Day 2025, people sold gold instead of buying.
Gold prices after Tet usually continuously climb until the end of the God of Wealth day. But the unexpected development this year is People sell gold instead of buying. Right before the God of Wealth's day, after reaching a record of 91.2 million VND/tael in the morning (February 6, 2025, or January 9 of the lunar calendar), the price of plain round gold rings continuously decreased, causing investors to suffer heavy losses. Thus, people rushed to sell gold to take profits right before the God of Wealth's day.
The price of SJC gold bars evaporated by 1.4 million VND/tael due to profit-taking selling pressure. By the afternoon of February 6, it was only 89.6 million VND/tael.
The huge difference between buying and selling prices (from 3.4 to 3.45 million VND/tael) is also putting investors at risk, possibly suffering high losses right after buying gold. On the 9th day of the first lunar month, if investors buy at a high price in the morning and sell in the afternoon, they may suffer a loss of up to 4.7 million VND/tael, due to both the loss of value and the difference between buying and selling prices.
According to experts, when the difference between buying and selling prices is high, this could be a sign that gold traders are worried about the risk of price fluctuations. They spread out the buying and selling prices to hedge against risks, and at the same time create a buffer to minimize the impact if the gold price suddenly drops sharply. The current situation is making it difficult for investors to seek short-term profits without suffering losses, if not serious losses.
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| Gold price today February 7, 2025: Gold price 'strange developments' on God of Wealth day; world warns of gold rush - dangerous signal of the world? (Source: Kitco) |
Summary of SJC gold bar and gold ring prices at major domestic trading brands at the closing time of the trading session on February 6 (ie January 9 of the Lunar calendar):
Saigon Jewelry Company SJC: SJC gold bars 86.4 - 89.6 million VND/tael; SJC gold rings 86.40 - 89.4 million VND/tael.
DOJI Group: SJC gold bars 86.4 - 89.6 million VND/tael; 9999 round rings (Hung Thinh Vuong) 86.2 - 89.6 million VND/tael.
PNJ system: SJC gold bars 86.5 - 89.8 million VND/tael; PNJ 999.9 plain gold rings at 86.30 - 89.5 million VND/tael.
Phu Quy Gold and Silver Group: SJC gold bars: 86.4 - 89.6 million VND/tael; Phu Quy 999.9 round gold rings: 86.10 - 88.10 million VND/tael.
SJC gold price at Bao Tin Minh Chau is listed at 86.4 - 89.6 million VND/tael; plain round gold ring price is 86.1 - 89.55 million VND/tael.
Gold rush warning and sign of economic collapse?
Amid record gold prices, geopolitical strategist Robert D. Kaplan said the rush to hoard gold could signal that major players are preparing for deeper financial turmoil.
Robert D. Kaplan, author of the book "Wasteland: A World in Permanent Crisis", commented that central banks buying gold could signal preparation for capital flight or "a deeper economic-political crisis with the US".
According to Mr Kaplan's analysis, hoarding gold often means people are pessimistic about the near- to medium-term future. "That can be a danger signal," he said.
Central banks dominated the gold market last year, collectively buying more than 1,000 tonnes of gold for the third consecutive year, according to the latest report from the World Gold Council (WGC).
In an era marked by escalating geopolitical tensions, economic instability and the rise of authoritarianism, strategist Kaplan argues that the world is entering a state of “continuous crisis” and is very fragile. Key points worth noting, according to strategist Kaplan, are contributing to a dangerous situation for the world economy.
The economy is characterized by hyperinflation, political extremism and economic collapse, while lawmakers have created a system "where no one can rule".
Kaplan argues that technology has shrunk geography, allowing crises to spread across the globe. “We have reached a point of global integration because technology has shrunk geography so that a crisis in one part of the world can spread across the globe and cause a crisis in another part of the world like never before.”
Meanwhile, Mr. Kaplan said that the US, China and Russia are all in recession, although at different speeds. And the US-China competition could “go further,” actually destabilizing financial markets.
Geopolitical strategist Robert D. Kaplan describes Donald Trump as a “world-historical figure” and predicts a tumultuous second term for Trump, which could lead to further turmoil around the world. Gold is therefore a solid hedge against assets. For example, China’s gold hoarding is a signal of potential financial instability, capital flight, and a deepening economic and political crisis in the United States. He also notes that the recent surge in gold purchases is a sign that “markets are trying to hedge against geopolitical risks.”
Source: https://baoquocte.vn/gia-vang-hom-nay-722025-gia-vang-dien-bien-la-trong-ngay-via-than-tai-canh-bao-con-sot-vang-tin-hieu-nguy-hiem-cua-the-gioi-303339.html
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