World gold prices hit an all-time high tonight, February 10, at $2,910/ounce.
World gold price has surpassed 2,900 USD/ounce and set an all-time record tonight, February 10, 2025 - Screenshot
Tariff war heats up gold prices
Compared to last weekend, there was a time when the world gold price increased by 50 USD/ounce, equivalent to 1.54 million VND/tael.
At 10:00 p.m. today, the world gold price slightly decreased to 2,905.3 USD/ounce.
Converted according to the exchange rate listed at the bank, the world gold price is equivalent to 89.52 million VND/tael. This is the highest price ever.
Although it was warned in advance, the fact that the world gold price exceeded 2,900 USD/ounce surprised many investors.
According to analysts, the rapid increase in world gold prices in recent weeks is due to the impact of the heated tariff war. In particular, the tension between the US and China will encourage investors to hold gold to hedge against risks.
Investors are also waiting for information from the hearing of the Chairman of the US Federal Reserve (FED) and the January inflation report to predict the path of interest rates in the coming time - because these will be important factors affecting gold prices.
The shocking increase in world gold prices has pushed the price of SJC gold bars up by VND1 million/tael at the end of today, from VND90.3 million/tael to VND91.3 million/tael. The buying price increased by VND1.5 million/tael, to VND88.3 million/tael.
The selling price of 9999 gold rings increased by 900,000 VND/tael, from 89.8 million VND/tael to 90.7 million VND/tael. The buying price increased by 1.2 million VND/tael, to 88 million VND/tael.
Bao Tin Minh Chau Company increased the selling price of gold rings to 91.25 million VND/tael at the end of today, an increase of nearly 1.5 million VND/tael compared to last weekend. The buying price also increased to 88.85 million VND/tael.
Will gold prices experience a sharp crash?
Domestic gold price increased by 1 million VND/tael this afternoon in selling price - Photo: THANH HIEP
According to records, the difference between buying and selling gold prices has narrowed compared to the God of Wealth day but is still quite high. For example, at SJC Company, the difference is 3 million VND/tael for gold bars and 2.7 million VND/tael for gold rings. This is still a very big risk for gold buyers at this time.
After the world gold price surpassed 2,900 USD/ounce and continuously remained at a high level, many conflicting opinions appeared. Expert Tran Duy Phuong said that the gold price is in the overbought zone, so it is very risky to buy at this time.
Some other opinions predict that the world gold price is likely to experience a sharp decline like what happened when the world gold price exceeded the threshold of 1,900 USD/ounce before.
Currently, compared to the converted world gold price, the price of SJC gold bars is 1.78 million VND/tael higher, while the price of 9999 gold rings is 1.18 million VND/tael higher.
Source: https://tuoitre.vn/gia-vang-the-gioi-vuot-2-900-usd-ounce-cao-nhat-moi-thoi-dai-20250210230002101.htm
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