Gold price today February 14, 2025: Domestic gold prices fluctuated sharply before Valentine's Day, going against the trend of the world market, continuously setting new records. So what will happen next after the world gold price breaks the record?
| 1. PNJ - Updated: 01/01/1970 08:00 - Website time of supply - ▼ / ▲ Compared to yesterday. | ||
| Type | Buy | Sell |
| HCMC - PNJ | 89,000 ▲1100K | 90,650 ▲550K |
| HCMC - SJC | 87,700 ▲1000K | 90,700 ▲500K |
| Hanoi - PNJ | 89,000 ▲1100K | 90,650 ▲550K |
| Hanoi - SJC | 87,700 ▲1000K | 90,700 ▲500K |
| Da Nang - PNJ | 89,000 ▲1100K | 90,650 ▲550K |
| Da Nang - SJC | 87,700 ▲1000K | 90,700 ▲500K |
| Western Region - PNJ | 89,000 ▲1100K | 90,650 ▲550K |
| Western Region - SJC | 87,700 ▲1000K | 90,700 ▲500K |
| Jewelry gold price - PNJ | 89,000 ▲1100K | 90,650 ▲550K |
| Jewelry gold price - SJC | 87,700 ▲1000K | 90,700 ▲500K |
| Jewelry gold price - Southeast | PNJ | 89,000 ▲1100K |
| Jewelry gold price - SJC | 87,700 ▲1000K | 90,700 ▲500K |
| Jewelry gold price - Jewelry gold price | PNJ 999.9 Plain Ring | 89,000 ▲1100K |
| Jewelry gold price - Jewelry gold 999.9 | 87,900 ▲400K | 90,400 ▲400K |
| Jewelry gold price - Jewelry gold 999 | 87,810 ▲400K | 90,310 ▲400K |
| Jewelry gold price - Jewelry gold 99 | 87,100 ▲400K | 89,600 ▲400K |
| Jewelry gold price - 916 gold (22K) | 80,410 ▲370K | 82,910 ▲370K |
| Jewelry gold price - 750 gold (18K) | 65,450 ▲300K | 67,950 ▲300K |
| Jewelry gold price - 680 gold (16.3K) | 59,120 ▲270K | 61,620 ▲270K |
| Jewelry gold price - 650 gold (15.6K) | 56,410 ▲260K | 58,910 ▲260K |
| Jewelry gold price - 610 gold (14.6K) | 52,790 ▲240K | 55,290 ▲240K |
| Jewelry gold price - 585 gold (14K) | 50,530 ▲230K | 53,030 ▲230K |
| Jewelry gold price - 416 gold (10K) | 35,260 ▲170K | 37,760 ▲170K |
| Jewelry gold price - 375 gold (9K) | 31,550 ▲150K | 34,050 ▲150K |
| Jewelry gold price - 333 gold (8K) | 27,480 ▲130K | 29,980 ▲130K |
Update gold price today 2/14/2025
World gold prices continue to break records, what will happen next?
The precious metals market has just seen another significant rally, up about 14% since mid-December.
According to the World and Vietnam Newspaper at 5:18 p.m. on February 13 (Hanoi time), the world gold price traded on the Kitco electronic floor was at 2,915.10 - 2,916.10 USD/ounce , an increase of 11.3 USD/ounce compared to the previous trading session.
Gold prices broke to a new record high this week as they neared $3,000 an ounce, driven by factors including tariff worries and strong underlying demand, according to analyst Gary Wagner of TheGoldForecast.com.
Mr. Wagner noted that the recent rise in gold after falling to around $2,650 an ounce was predicted by him in a previous appearance. And “the current rally is a new leg and comes after the correction we saw when prices traded lower,” Mr. Wagner said.
So what happens next after the world gold price breaks the record?
Traders are eager to buy any dips in gold prices, indicating strong market sentiment, said analysts at TheGoldForecast.com . "Traders are waiting for dips so they can grab that opportunity."
President Trump’s 25% tariffs on steel and aluminum have added to the risk of inflation, increasing demand for gold as a safe haven. “The tariffs raise the possibility of a return to overheated inflation,” Wagner said.
Gold prices are approaching the psychologically important level of $3,000 an ounce. Gary Wagner believes that reaching $3,000 is “not a matter of if, but when.” “I think it will be relatively soon,” he added.
But while the market remains bullish, Wagner concedes that gold prices are likely to fall or correct. He also notes that gold's current trajectory is "almost parabolic," which "always creates the potential for a sharp correction, but we haven't seen that yet." "And the reason this is different than other times when we've typically seen a pullback much sooner is because the fundamentals driving this are very strong."
Domestic gold prices fluctuated by millions of dong before Valentine's Day.
The price of SJC gold bars continuously reversed sharply, decreasing and increasing rapidly on February 13. At the end of the day, Saigon Jewelry Company (SJC) and Phu Nhuan Company (PNJ) listed the price of SJC gold bars at 87.7 - 90.7 million VND; DOJI Group closed the price at 86.7 - 90.2 million VND per tael.
The price of plain round gold rings lost the 90 million VND/tael mark in the morning, then quickly recovered in the afternoon.
The price of gold rings of various brands has been adjusted down by a million dong, losing the 90 million dong/tael mark on the morning of February 13, but immediately increased sharply in the afternoon. SJC Company raised the price of plain round gold rings to 87.7 - 90.5 million dong/tael; PNJ Company also raised it to 89 - 90.65 million dong; and DOJI is 88.6 - 90.2 million dong/tael.
Converting the world gold price to the USD exchange rate at Vietcombank is equivalent to 90 million VND/tael. The difference between domestic and world gold prices is currently less than 1 million VND/tael.
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| Gold price today February 14, 2025: Domestic gold price 'dances' before Valentine's Day, when will world price exceed 3,000 USD? Two leading BRICS members 'sold out'. (Source: Kitco) |
Summary of SJC gold bar and gold ring prices at major domestic trading brands at the closing time of the trading session before Valentine's Day (February 13):
Saigon Jewelry Company SJC: SJC gold bars 87.7 - 90.7 million VND/tael; SJC gold rings 87.7 - 90.5 million VND/tael.
DOJI Group: SJC gold bars 86.7 - 90.2 million VND/tael; 9999 round rings (Hung Thinh Vuong) 88.6 - 90.2 million VND/tael.
PNJ system: SJC gold bars 87.7 - 90.7 million VND/tael; PNJ 999.9 plain gold rings at 89 - 90.65 million VND/tael.
Phu Quy Gold and Silver Group: SJC gold bars: 87.7 - 90.7 million VND/tael; Phu Quy 999.9 round gold rings: 89.00 - 90.70 million VND/tael.
SJC gold price at Bao Tin Minh Chau is listed at 87.7 - 90.7 million VND/tael; round gold ring price is 89.10 - 90.70 million VND/tael.
China, Russia face soaring domestic gold demand
Chinese banks are running out of gold, while Russia's commercial and even national reserves are rapidly depleting, as the two BRICS nations face soaring domestic demand even as global gold prices hit new records.
According to local news agency Yicai , the Industrial and Commercial Bank of China's app shows that 5, 20, 50, 100 and 200g gold bars are all out of stock, with only the 10g option available - indicating a shortage of gold supply in the country. Apps from many other banks such as the Agricultural Bank of China, China Construction Bank, Postal Savings Bank of China... also show that they are out of stock and unavailable.
“Although gold prices may continue to rise in the short term, the associated risks are also likely to gradually accumulate,” warned Wu San, a researcher at the China Banking Research Institute. Therefore, investors should consider different strategies, such as portfolio diversification, to effectively reduce risks based on their personal financial situation.
The shortage comes as gold prices in China and around the world continue to hit new record highs. Spot gold last traded at a new high of $2,906.44 an ounce, up 0.30% on the day.
Russia, another founding member of BRICS, is also seeing its gold reserves fall at both the central and commercial bank levels. Russia's gold reserves are set to fall by 46.4% by 2024, representing a drop of more than 33 tonnes, according to a report from RBC news agency, citing data from the Central Bank of Russia.
The Russian Central Bank said its gold reserves fell 23.6% in monetary terms last year, but in physical terms they fell 46.4%, the biggest drop since the peak of the Covid-19 pandemic in 2020. RBC said physical gold reserves held by Russian banks now stand at 38.1 tonnes, worth $3.4 billion, or 325.4 billion rubles. Russia's gold reserves are now at their lowest since July 2022.
According to the World Gold Council (WGC), Russian consumers bought 75.6 tonnes of gold in 2024, up 6% from the previous year, but up 6% from 2021 - the year before Russia launched its military campaign in Ukraine.
Source: https://baoquocte.vn/gia-vang-hom-nay-1422025-gia-vang-trong-nuoc-nhay-mua-truoc-le-valentine-the-gioi-bao-gio-vuot-3000-usd-thanh-vien-hang-dau-brics-chay-hang-304157.html
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