Gold price today February 16, 2025, gold price dropped sharply, profit-taking appeared. However, gold is still a sought-after safe-haven asset as investors try to protect themselves from geopolitical turmoil and economic instability. Gold ring price dropped sharply.
| 1. PNJ - Updated: 01/01/1970 08:00 - Website time of supply - ▼ / ▲ Compared to yesterday. | ||
| Type | Buy | Sell |
| HCMC - PNJ | 88,300 ▼900K | 90,200 ▼1000K |
| HCMC - SJC | 87,300 ▼1000K | 90,300 ▼1000K |
| Hanoi - PNJ | 88,300 ▼900K | 90,200 ▼1000K |
| Hanoi - SJC | 87,300 ▼1000K | 90,300 ▼1000K |
| Da Nang - PNJ | 88,300 ▼900K | 90,200 ▼1000K |
| Da Nang - SJC | 87,300 ▼1000K | 90,300 ▼1000K |
| Western Region - PNJ | 88,300 ▼900K | 90,200 ▼1000K |
| Western Region - SJC | 87,300 ▼1000K | 90,300 ▼1000K |
| Jewelry gold price - PNJ | 88,300 ▼900K | 90,200 ▼1000K |
| Jewelry gold price - SJC | 87,300 ▼1000K | 90,300 ▼1000K |
| Jewelry gold price - Southeast | PNJ | 88,300 ▼900K |
| Jewelry gold price - SJC | 87,300 ▼1000K | 90,300 ▼1000K |
| Jewelry gold price - Jewelry gold price | PNJ 999.9 Plain Ring | 88,300 ▼900K |
| Jewelry gold price - Jewelry gold 999.9 | 87,600 ▼800K | 90,100 ▼800K |
| Jewelry gold price - Jewelry gold 999 | 87,510 ▼800K | 90,010 ▼800K |
| Jewelry gold price - Jewelry gold 99 | 86,800 ▼790K | 89,300 ▼790K |
| Jewelry gold price - 916 gold (22K) | 80,130 ▼730K | 82,630 ▼730K |
| Jewelry gold price - 750 gold (18K) | 65,230 ▼600K | 67,730 ▼600K |
| Jewelry gold price - 680 gold (16.3K) | 58,920 ▼540K | 61,420 ▼540K |
| Jewelry gold price - 650 gold (15.6K) | 56,220 ▼520K | 58,720 ▼520K |
| Jewelry gold price - 610 gold (14.6K) | 52,610 ▼490K | 55,110 ▼490K |
| Jewelry gold price - 585 gold (14K) | 50,360 ▼470K | 52,860 ▼470K |
| Jewelry gold price - 416 gold (10K) | 35,130 ▼330K | 37,630 ▼330K |
| Jewelry gold price - 375 gold (9K) | 31,440 ▼300K | 33,940 ▼300K |
| Jewelry gold price - 333 gold (8K) | 27,380 ▼270K | 29,880 ▼270K |
Update gold price today 2/16/2025
Domestic gold prices fluctuated strongly last week.
Opening the first trading session of the week on February 10, SJC gold price remained above 90 million VND/tael, while businesses adjusted the buying price sharply.
Specifically, Saigon Jewelry Company (SJC) and DOJI Jewelry Group announced the selling price of SJC gold bars at 87.3 - 90.3 million VND/tael (buy - sell), an increase of 500 thousand VND/tael for buying and keeping the listed price for selling unchanged compared to the previous closing price.
Similarly, the price of gold rings also increased in the buying direction, but remained unchanged in the selling direction. At Bao Tin Minh Chau Company, the price of gold rings was at 87.3 - 90.25 million VND/tael (buying - selling), an increase of 500 thousand VND/tael in the buying direction and remained the listed price in the selling direction compared to the previous closing price.
After 3 sessions of strong fluctuations in the middle of the week, by the morning session of February 14, domestic gold prices continued to increase, exceeding 91 million VND/tael.
Specifically, Saigon Jewelry Company (SJC) and DOJI Jewelry Group listed the selling price of SJC gold bars at VND88.3 - 91.3 million/tael (buy - sell), an increase of VND600,000/tael in both buying and selling compared to the closing price on February 13.
The price of gold rings also increased sharply in both buying and selling directions. Saigon Jewelry Company SJC and DOJI Company listed the price of gold rings at 88.3 - 91.1 (buy - sell), an increase of 900 thousand VND/tael in buying and selling directions compared to the morning of February 13.
 |
| Gold price today February 16, 2025: Gold price plummets, market is in turmoil due to Mr. Trump's unpredictability, the $3,500/ounce mark will be inevitable. (Source: Kitco News) |
Summary of SJC gold bar and gold ring prices at major domestic trading brands at the closing time of February 15:
Saigon Jewelry Company SJC: SJC gold bars 87.3 - 90.3 million VND/tael; SJC gold rings 87.3 - 90.1 million VND/tael.
DOJI Group: SJC gold bars 87.7 - 90.7 million VND/tael; 9999 round rings (Hung Thinh Vuong) 89.0 - 90.7 million VND/tael.
PNJ system: SJC gold bars 87.3 - 90.3 million VND/tael; PNJ 999.9 plain gold rings at 88.3 - 90.2 million VND/tael.
Phu Quy Gold and Silver Group: SJC gold bars: 87.5 - 90.3 million VND/tael; Phu Quy 999.9 round gold rings: 88.5 - 90.3 million VND/tael.
SJC gold price at Bao Tin Minh Chau is listed at 87.3 - 90.3 million VND/tael; plain round gold ring price is 88.45 - 90.3 million VND/tael.
Thus, in the domestic market, the price of SJC gold bars and gold rings decreased by about 1 million VND/tael in both buying and selling prices.
According to the World and Vietnam Newspaper , at 5:20 p.m. on February 15 (Vietnam time), the world gold price at Kitco News was at 2,883.1 USD/ounce, down 45.6 USD/ounce compared to the previous trading session.
Converted according to USD price at Vietcombank on February 15, 1 USD = 25,580 VND, world gold price is equivalent to 88.86 million VND/tael.
World gold price drops sharply
World gold prices recorded their seventh consecutive week of increase, despite being under pressure to adjust in the last session of the week due to profit-taking activities of investors. Despite the price decrease in the session on February 14, world gold prices still recorded an increase of 0.8% over the past week. US gold futures also decreased by 1.5% to 2,900.70 USD/ounce.
According to Kitco News , a gold price of $3,500 an ounce could be inevitable. There is no doubt that the gold market is in a long-term bull market, but the important thing is that nothing goes up in a straight line and there will be periods of volatility.
Analysts have been warning investors for the past few weeks, as prices surged above $2,800 an ounce, that the gold market was looking a bit overbought. So it’s no surprise that the market is finally starting to see some profit-taking, as gold prices have risen more than 11% this year.
Safe haven assets
Gold is currently a sought-after safe-haven asset as investors try to protect themselves from geopolitical turmoil and economic uncertainty.
For many investors and analysts, it’s only a matter of time before gold hits $3,000 an ounce; however, that could be a small step in a much larger rally. This week, Bank of America highlighted what it would take to get to $3,500 an ounce, and it’s not impossible.
In his latest research report, Bank of America (BoA) commodities analyst Michael Widmer said a 10% increase in investor demand would push gold prices to $3,500 an ounce.
It is not inconceivable that investment demand will reach or even surpass that target, as ETF demand is only just starting to pick up and remains well below the levels seen during the most recent gold rally to record highs in 2020.
Investors are also getting continued support from China. Last Friday, Beijing launched a pilot project allowing 10 insurance companies, including the country’s two largest, to invest up to 1% of their assets in gold.
According to BoA, Chinese insurance companies could buy up to $28 billion in gold, equivalent to about 300 tons, accounting for about 6.5% of annual physical demand.
“And let’s not forget that the unpredictability of President Donald Trump will prompt central banks to continue adding gold to their official reserves,” said Kitco News analyst Neils Christensen.
Gold’s rally to record highs appears to be stalling as the precious metal ends the week below $2,900 an ounce amid strong profit-taking.
Easing geopolitical tensions are reducing gold's appeal as a safe haven, said Phillip Streible , chief market strategist at Blue Line Futures.
This week, US President Donald Trump spoke by phone with his Russian counterpart Vladimir Putin about the possibility of ending the conflict in Ukraine. At the same time, while Mr. Trump continues to threaten the world with aggressive trade tariffs, he has delayed any major action until a country-by-country review is completed, expected in April.
However, earlier this week, the US leader announced a 25% tariff on all imported steel and aluminum.
Despite the short-term volatility, many analysts predict gold prices will remain firmly in an uptrend as US policies remain unpredictable.
“Amid economic and geopolitical uncertainty and President Trump’s hesitation, gold prices are steadily rising, suggesting a bleak but not catastrophic outlook,” said Ricardo Evangelista , Senior Analyst at ActivTrades.
Despite gold's disappointing price performance on February 14, Naeem Aslam , chief investment officer at Zaye Capital Markets, noted that the precious metal still showed steady strength in a challenging week.
The US consumer price index showed annual inflation rose 3.0% in January, higher than expected. Meanwhile, Federal Reserve Chairman Powell, in two days of testimony on Capitol Hill, reiterated the central bank’s relatively neutral stance, saying the Fed was in no rush to cut interest rates because inflation risks remained high and the labor market remained strong.
“Gold’s resilience amid hotter-than-expected CPI data and Powell’s cautious stance suggests strong fundamental support, likely due to persistent inflation concerns and safe-haven demand,” said analyst Aslam.
“Typically, higher inflation and a delay in rate cuts would put pressure on gold as real yields rise. However, with economic uncertainty rising, especially as consumption weakens, investors may be positioning for potential stagflation risks. The muted market reaction to Powell’s comments suggests that traders have priced in a higher-rate environment for longer. In addition, ongoing geopolitical tensions and central bank buying continue to provide a backdrop for gold,” he added.
Julia Khandoshko , CEO at Mind Money, said she is looking beyond gold's short-term volatility and any short-term corrections as she expects gold to remain well supported through 2025.
She noted that even if inflationary pressures remain high, central banks, led by the Fed, will be forced to cut interest rates as the global economy weakens, while the analyst expects gold to remain an important safe-haven asset.
“The level of uncertainty in the global economy is increasing. It’s not the specific statements that Trump makes, it’s the frequency of them,” she said. “The more he says it, the more turbulence there is in the markets. Institutional investors are looking for reliable assets, and gold remains their primary hedge.”
Gold will remain sensitive to geopolitical uncertainty in next week's shortened trading schedule, some analysts said.
Source: https://baoquocte.vn/gia-vang-hom-nay-1622025-gia-vang-lao-doc-thi-truong-chao-dao-vi-su-kho-doubt-cua-ong-trump-moc-3500-usdounce-se-la-tat-yeu-304429.html
Comment (0)