On the afternoon of February 10, world gold price hit a peak, SJC gold bars skyrocketed by millions of dong

(NLDO) - World gold prices climbed to a new peak, causing domestic gold prices to jump by millions of dong per tael on the afternoon of February 10.

On the afternoon of February 10, SJC Company suddenly adjusted the price of SJC gold bars to increase by a million VND, to 88.3 million VND/tael for buying, 91.3 million VND/tael for selling. PNJ, DOJI , Bao Tin Minh Chau, Phu Quy companies also simultaneously changed their new listed price lists, increasing the price of gold bars by 1 million VND/tael compared to the morning.

This is a very strong increase in the price of gold bars in recent days. After God of Wealth Day every year, the price of gold usually plummets, but this year's situation is different.

Similarly, the price of 99.99 gold rings and jewelry gold also increased sharply. Businesses bought 87.9 million VND/tael and sold 90.6 million VND/tael, an increase of 600,000 VND/tael compared to the morning.

The price of gold bars is heading towards the historical peak set in May last year at 92.4 million VND/tael; while the price of gold rings is at its highest peak ever.

Domestic gold prices skyrocketed this afternoon

Domestic gold prices fluctuated strongly following the strong upward trend of world gold prices. In the international market, today's gold price surprised everyone when it continued to break old peaks and set new peaks. The new historical peak of gold prices reached 2,894 USD/ounce, an increase of 35 USD/ounce compared to the last session of the week.

According to analysts, gold prices increased sharply after President Donald Trump decided to impose a 25% tax on all aluminum and steel products imported into the US.

According to analysts, gold prices are forecast to reach $2,900/ounce in the first half of 2025, but the consecutive increase in recent weeks is surprising because there has been no short-term adjustment. Most recently, gold prices are predicted to reach $3,000/ounce this year.

Experts from the Global Market and Economic Research Department - UOB Bank (Singapore) said they have recorded remarkable developments in the gold market.

The spread between futures prices and spot prices is widening, along with a surge in physical gold deliveries to the COMEX. It can be seen that the demand for physical gold in the US is increasing significantly in the context of escalating trade conflicts between the US and major partners.

World gold price sets new historical peak. Source: Kitco

"This development reinforces UOB's view that safe-haven demand for gold is increasing, not only from central banks to increase reserves but also from individual investors globally. This demand helps the price of this precious metal avoid negative pressure from the strong USD momentum. Gold prices are forecast to reach 3,000 USD/ounce by the end of this year" - UOB experts said.

Gold expert Tran Duy Phuong also believes that gold prices could increase sharply by about $3,000/ounce in the first half of this year, due to Mr. Trump's policies that destabilize the financial market, prompting investors to seek gold. However, gold prices have increased too much in recent times, so they may have to adjust down by $100-200, even to below $2,700/ounce before increasing again.

Source: https://nld.com.vn/chieu-10-2-gia-vang-the-gioi-lap-dinh-vang-mieng-sjc-tang-vot-ca-trieu-dong-196250210151212387.htm