Gold price on February 14, 2025: World gold set a record, domestic gold increased by 1.2 million VND/tael

DNVN - World gold prices continued to set a new record high, approaching the threshold of 3,000 USD/ounce, while domestic gold prices on the morning of March 14 also increased sharply by 1.2 million VND/tael.

Domestic gold price

At 9:15 a.m., DOJI Gold and Gemstone Group and Saigon Jewelry Company (SJC) adjusted the price of gold bars to VND94.1 - 95.6 million/tael (buy - sell), an increase of VND1.2 million/tael compared to the closing price of the previous session.

The price of gold bars and gold rings at Bao Tin Minh Chau Company is listed at 94.65 - 96.2 million VND/tael (buy - sell), an increase of 1.25 million VND/tael and 1.2 million VND/tael in both buying and selling directions compared to the previous trading session.

The price of gold rings of Saigon Jewelry Company SJC reached 94 - 95.5 million VND/tael (buy - sell), recording an increase of 1.2 million VND/tael in both buying and selling directions compared to the previous session.

International gold price

In the international market, in the trading session on March 13, the world gold price continued to increase sharply, setting a new record high and approaching the threshold of 3,000 USD/ounce due to the impact of tariff instability along with expectations that the US Federal Reserve (Fed) will continue to loosen monetary policy.

At 1:55 a.m. on March 14, Vietnam time, the spot gold price increased by 1.6% to $2,979.76/ounce, after reaching its highest level this year at over $2,990/ounce. The gold futures price also closed the session at $2,991.3/ounce, up 1.5% compared to the previous session. Since the beginning of the year, the gold price has recorded an increase of nearly 14%, continuing the strong growth trend of 27% in 2024.

Mr. Alex Ebkarian, CEO of Allegiance Gold, assessed that gold is in a long-term price increase cycle and predicted that the price of this precious metal could fluctuate between 3,000 - 3,200 USD/ounce in 2025.

The Federal Reserve has cut interest rates by a total of 1 percentage point since September, but paused its easing policy in January. Investors expect the Fed to make another rate cut in June. According to data from the US Labor Department, the producer price index was unchanged from the previous month in February 2025, while the consumer price index rose 0.2% after recording a 0.5% increase in January.

“Demand from exchange-traded funds (ETFs) remains strong, while central banks continue to step up purchases of gold in response to geopolitical uncertainty and changes in tariff policies, which is supporting the upward momentum of gold prices,” said Standard Chartered analyst Suki Cooper.

Data from the world's largest gold-backed exchange-traded fund, SPDR Gold Trust, showed that its holdings rose to 907.82 tonnes on February 25, the highest since August 2023. At the same time, data from the People's Bank of China (PBoC) showed that the country continued to buy gold in February, marking the fourth consecutive month of expanding its precious metal reserves.

Cao Thong (t/h)

Source: https://doanhnghiepvn.vn/kinh-te/gia-vang-ngay-14-2-2025-vang-the-gioi-lap-ky-luc-vang-trong-nuoc-tang-1-2-trieu-dong-luong/20250314102433485