Gold price today February 9, 2025, gold price increased sharply in the context of US President Donald Trump applying high tariffs on imported goods. The world is still stockpiling precious metals, the "thirst for gold" has not been quenched, analysts explain the reason. Domestic gold price followed suit.
| 1. PNJ - Updated: 01/01/1970 08:00 - Website time of supply - ▼ / ▲ Compared to yesterday. | ||
| Type | Buy | Sell |
| HCMC - PNJ | 86,700 | 90,100 |
| HCMC - SJC | 86,800 | 90,300 |
| Hanoi - PNJ | 86,700 | 90,100 |
| Hanoi - SJC | 86,800 | 90,300 |
| Da Nang - PNJ | 86,700 | 90,100 |
| Da Nang - SJC | 86,800 | 90,300 |
| Western Region - PNJ | 86,700 | 90,100 |
| Western Region - SJC | 86,800 | 90,300 |
| Jewelry gold price - PNJ | 86,700 | 90,100 |
| Jewelry gold price - SJC | 86,800 | 90,300 |
| Jewelry gold price - Southeast | PNJ | 86,700 |
| Jewelry gold price - SJC | 86,800 | 90,300 |
| Jewelry gold price - Jewelry gold price | PNJ 999.9 Plain Ring | 86,700 |
| Jewelry gold price - Jewelry gold 999.9 | 86,700 | 89,200 |
| Jewelry gold price - Jewelry gold 999 | 86,610 | 89,110 |
| Jewelry gold price - Jewelry gold 99 | 85,910 | 88,410 |
| Jewelry gold price - 916 gold (22K) | 79,310 | 81,810 |
| Jewelry gold price - 750 gold (18K) | 64,550 | 67,050 |
| Jewelry gold price - 680 gold (16.3K) | 58,310 | 60,810 |
| Jewelry gold price - 650 gold (15.6K) | 55,630 | 58,130 |
| Jewelry gold price - 610 gold (14.6K) | 52,060 | 54,560 |
| Jewelry gold price - 585 gold (14K) | 49,830 | 52,330 |
| Jewelry gold price - 416 gold (10K) | 34,760 | 37,260 |
| Jewelry gold price - 375 gold (9K) | 31,100 | 33,600 |
| Jewelry gold price - 333 gold (8K) | 27,090 | 29,590 |
Update gold price today 2/9/2025
Domestic gold prices fluctuated strongly last week due to the impact of God of Wealth Day (January 10).
Opening the first trading session of the week on February 3, right after the Lunar New Year holiday, the world gold market continuously set new peaks, causing domestic gold prices to also increase sharply.
Specifically, Saigon Jewelry Company (SJC) and DOJI Jewelry Group announced the selling price of SJC gold bars at 87.3 - 89.3 million VND/tael (buy - sell), an increase of 500 thousand VND/tael in both buying and selling directions compared to the previous session's closing price.
Similar to SJC gold bars, the price of gold rings announced by Saigon Jewelry Company SJC is at 87 - 88.7 million VND/tael (buy - sell), an increase of 700 thousand VND/tael for buying and an increase of 300 thousand VND/tael for selling compared to the closing price yesterday.
After 3 sessions of strong fluctuations in the middle of the week, by the afternoon of February 7, the day of the God of Wealth, the domestic gold bar price remained stable compared to the closing price of the morning session of the same day. Specifically, Saigon Jewelry Company (SJC) and DOJI Jewelry Group announced the selling price of SJC gold bars at 86.8 - 90.3 million VND/tael (buy - sell).
Similarly, the price of gold rings also remained stable in the buying direction and decreased in the selling direction. At Bao Tin Minh Chau Company, the price of gold rings was at 86.8 - 90.25 million VND/tael (buying - selling), keeping the listed price in the buying direction and decreasing 50 thousand VND/tael in the selling direction compared to the closing price of the same morning session.
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| Gold price today February 9, 2025: Gold price increases sharply, the world is hoarding, the 'gold thirst' shows no signs of stopping, here is the reason. (Source: Kitco News) |
Summary of SJC gold bar and gold ring prices at major domestic trading brands at the closing time of February 8:
Saigon Jewelry Company SJC: SJC gold bars 86.8 - 90.3 million VND/tael; SJC gold rings 86.8 - 89.8 million VND/tael.
DOJI Group: SJC gold bars 86.8 - 90.3 million VND/tael; 9999 round rings (Hung Thinh Vuong) 86.6 - 90.3 million VND/tael.
PNJ system: SJC gold bars 86.7 - 90.1 million VND/tael; PNJ 999.9 plain gold rings at 86.7 - 90.1 million VND/tael.
Phu Quy Gold and Silver Group: SJC gold bars: 86.8 - 90.3 million VND/tael; Phu Quy 999.9 round gold rings: 86.7 - 90.2 million VND/tael.
SJC gold price at Bao Tin Minh Chau is listed at 86.8 - 90.3 million VND/tael; round gold ring price is 86.8 - 90.25 million VND/tael.
According to the World and Vietnam Newspaper , at 6:35 p.m. on February 8 (Vietnam time), the world gold price at goldprice.org was at 2,861.26 USD/ounce, an increase of 10.58 USD/ounce compared to the previous trading session.
Converted according to USD price at Vietcombank on February 8, 1 USD = 25,470 VND, world gold price is equivalent to 87.81 million VND/tael.
Last week, the world gold market fluctuated strongly, recording an increase of more than 2% compared to the previous week and the sixth consecutive week of price increase, as escalating trade tensions between the US and China continued to push investors to seek this safe haven asset.
At the close of trading on February 7, spot gold prices increased by 0.2% to 2,861.46 USD/ounce. US gold futures prices increased by 0.36% to 2,866.4 USD/ounce.
According to economists, US President Donald Trump may have initiated a new trade war by announcing additional tariffs on Mexico, Canada and China. This is the main reason supporting the increase in gold prices.
The main focus of the gold market right now remains uncertainty surrounding President Trump's tariff policies, said David Meger , director of metals trading at High Ridge Futures.
The gold market appears to be being driven by continued growth in gold holdings by the People's Bank of China (PBoC, the central bank) and a new program by the country that allows hedge funds to invest in gold, according to Peter Grant , vice president and senior metals strategist at precious metals trading firm Zaner Metals.
According to Kitco News , central banks started 2025 the same way they ended 2024 with continued increases in gold reserves.
Krishan Gopaul , senior EMEA analyst at the World Gold Council, analyzed central bank gold buying last month.
China once again increased its gold reserves in January, buying 5 tonnes of the precious metal, he said.
Analysts are particularly focused on the world's second-largest economy. This is the third consecutive month that the People's Bank of China has increased its gold reserves, after a six-month pause. Previously, the bank had 18 consecutive months of net purchases.
“Last month’s purchases helped lift China’s gold reserves to 2,285 tonnes,” said Mr Gopaul.
Although China has significantly increased its gold holdings, the precious metal still accounts for only about 5% of the Northeast Asian nation’s total foreign exchange reserves. Analysts say China has plenty of room to increase its gold holdings to 10%, putting it more in line with other developed market central banks.
China is not the only country buying gold. Analyst Gopaul noted that data from the National Bank of Poland showed that it bought three tonnes of gold in January.
"The move brings the country's total gold reserves to 451 tonnes - 26% higher than January 2024 and 97% higher than January 2023," Gopaul said.
Poland was the biggest buyer of gold last year, with its national bank increasing its reserves by 90 tonnes.
Elsewhere in Europe, Gopaul reports that the Czech National Bank also bought 3 tonnes of gold in January.
"The country's total gold holdings are now 53 tonnes, 63% higher than at the end of January 2024. Gold also now accounts for more than 3% of total international reserves."
Finally, Uzbekistan was the biggest buyer of gold last month, with its central bank buying 8 tonnes of gold.
"The country's total gold holdings are now 391 tonnes, the highest since February 2023 (393 tonnes)," said Mr. Gopaul.
Government gold purchases dominated the gold market last year, with central banks collectively buying 1,045 tonnes of the precious metal, according to the World Gold Council's (WGC) annual and fourth quarter 2024 trends report released on March 5.
“Notably, 2024 is the third consecutive year that demand exceeds 1,000 tonnes – well above the 2010-2021 annual average of 473 tonnes and contributing to gold’s performance,” the WGC said.
Looking ahead, the WGC expects central banks to continue to support the precious metals market.
“Central banks have been net buyers for the past 15 years, but their thirst for gold shows no signs of stopping,” analysts said.
In an interview with Kitco News , Joseph Cavatoni , market strategist at the WGC, said that given the high level of geopolitical uncertainty, it is no surprise that central banks are diversifying away from the USD.
“The case for gold is clear and understandable,” he said. “When we look at central banks’ demand, their rationale for owning gold remains strong. Rising government debt and a changing geopolitical landscape suggest that central banks will continue to buy gold.”
Analyst Cavatoni added that he does not expect rising gold prices to deter central banks from buying gold through 2025.
Source: https://baoquocte.vn/gia-vang-hom-nay-922025-gia-vang-tang-manh-the-gioi-un-un-tich-tru-con-khat-vang-chua-co-dau-hieu-dung-lai-day-la-ly-do-303521.html
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