DNVN - On the morning of February 18, the world gold price recovered strongly, causing the domestic gold ring and gold bar prices to increase significantly in the buying direction. The difference between the buying and selling prices has narrowed to 2.5 million VND/tael.
At 9:00 a.m., Saigon Jewelry Company (SJC) and DOJI Jewelry Group announced the trading price of SJC gold bars at VND88.3 - 90.8 million/tael (buy - sell). Compared to the end of the previous day, the buying price increased by VND700,000/tael, while the selling price increased by VND200,000/tael.
Along with gold bars, gold rings also had a significant increase in the buying direction. Saigon Jewelry Company SJC quoted the price of gold rings at 88.3 - 90.6 million VND/tael (buy - sell), with a similar increase of 700 thousand VND/tael for buying and 200 thousand VND/tael for selling compared to the previous trading session.
At Bao Tin Minh Chau Company, gold rings were listed at VND89.25 - 90.8 million/tael (buy - sell), recording an increase of VND100,000/tael in buying and VND200,000/tael in selling compared to the previous session.
In the international market, the price of gold in the session of February 17 increased again, surpassing the threshold of 2,900 USD/ounce due to the impact of the weakening of the USD and concerns about trade tensions after US President Donald Trump announced that he would impose retaliatory tariffs.
At around 2:10 a.m. on February 18, Vietnam time, spot gold rose 0.5% to $2,897.49 an ounce, slightly lower than the intraday high of $2,906.38 an ounce. Last week, gold prices set a record at $2,942.70 an ounce. Meanwhile, US gold futures also recorded a 0.3% increase to $2,910.30 an ounce.
The US dollar showed weakness as it hovered near a two-month low, making gold more attractive to investors holding other currencies.
"Gold is still benefiting from investors seeking safe haven assets amid concerns about tariffs and trade wars," said Giovanni Staunovo, an analyst at UBS.
According to Mr. Staunovo, the market continues to record the prospect of gold price increase, with the forecast that this precious metal could reach the milestone of 3,000 USD/ounce. In addition, demand from central banks also contributes to the increase of gold.
On February 14, President Trump renewed his threat to impose tariffs on cars, saying it could be implemented as soon as April 2. The move is seen as the latest in a series of trade policies he has taken since the start of his second term.
On the same day, Morgan Stanley announced that it will closely monitor the moves of central banks, especially regarding gold demand in the event of a potential peace deal between Russia and Ukraine.
Gold is still seen as a hedge against inflation and geopolitical uncertainty, but high interest rates could reduce the appeal of the precious metal because it does not generate income.
Several Federal Reserve officials are scheduled to speak later in the week, and investors will be watching closely for clues on interest rate policy. US markets are closed for the Presidents Day holiday.
Cao Thong (t/h)
Source: https://doanhnghiepvn.vn/kinh-te/gia-vang-ngay-18-2-2025-tang-dang-ke-o-chieu-mua-vao/20250218101054239
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