The price of gold on the Kitco floor at 9:00 p.m. on February 6 (Vietnam time) was trading at $2,861.6/ounce, down 0.29% from the beginning of the session. The price of gold futures for delivery in April 2025 on the Comex New York floor was trading at $2,888.1/ounce.

At the beginning of the trading session on February 6 (US time), world gold prices decreased due to the cooling of the world economic and political instability after President Trump announced a one-month delay in imposing a 25% tax on Canada and Mexico.

“Gold continues to be heavily influenced by trade uncertainty,” said Peter Grant, vice president and senior metals strategist at Zaner Metals. “Tariffs on China and retaliatory measures have been a major driver of safe-haven flows.”

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Mr. Trump eases tensions with Canada and Mexico, gold slightly decreases. Photo: HH

In addition, officials of the US Federal Reserve (Fed) emphasized that inflation could increase, and the trade war context makes the economy increasingly unstable. Gold will be increasingly focused on by investors.

Gold is currently being held back by the Fed's interest rate policy as the agency continues to be hawkish. The Fed has repeatedly affirmed that it will slow down the process of lowering interest rates as the US economy is experiencing inflation again.

In the domestic market, at the close of the session on February 6, the price of 9999 gold bars at SJC was VND86.4 million/tael (buy) and VND89.6 million/tael (sell). Doji listed it at VND86.4 million/tael (buy) and VND89.6 million/tael (sell).

SJC announced the price of gold rings of type 1-5 at only 86.4-89.4 million VND/tael (buy - sell). Doji listed the price of 9999 smooth round gold rings at 86.2-89.6 million VND/tael (buy - sell).

Gold Price Forecast

Analysts say that despite the negative fluctuations in the short term, gold continues to conquer new peaks. Investors are choosing gold as a safe haven asset amid concerns that the trade war between the US and China could negatively impact US economic growth.

In 2025, gold prices are forecast to continue to rise. The $2,900/ounce mark is no longer a strong barrier. Interest rates are forecast to continue their downward trend, while inflation increases and economic tensions between the US and other countries escalate.

The US-China trade war is getting more intense. The two countries could fall into a spiral of retaliation, which would affect the global economy. This is the reason why money is fleeing from many investment channels and seeking safety in gold.

Jim Wyckoff, an analyst at Kitco Metals, predicted that the instability caused by the Trump administration, along with central banks increasing their gold purchases to reduce their USD holdings, could push the price of the precious metal to $3,000/ounce this year.

Gold price today February 6, 2025: Plain rings dropped 2 million in a row, SJC gold bars dropped to 90 million VND/tael. Domestic gold price today February 6, 2025 suddenly plummeted following world gold prices, after 3 consecutive days of increase. Plain rings dropped 2 million VND in a row, SJC gold bars dropped to 90 million VND/tael before God of Wealth's day.