After reaching 2,800 USD/ounce, today February 1, the world gold price set a new record when it surpassed 2,820 USD/ounce.
World gold price sets a new record every day - Photo: NGOC PHUONG
World gold price closed at an unprecedented high
Thus, during the Lunar New Year holiday alone, the world gold price increased by 70 USD/ounce. In January 2025 alone, the spot gold price increased by more than 7%.
At the end of the trading week, the world gold price slightly decreased to 2,801.2 USD/ounce. This is an unprecedented high closing price.
At the current price, converted according to the listed exchange rate at the bank, the world gold price is equivalent to 85.44 million VND/tael.
Gold prices have increased dramatically and continuously set records at the beginning of the new year, surprising investors. Expert Tran Duy Phuong said that with the current closing price, the world gold price has not yet peaked, which means that the world gold price is likely to continue to increase early next week.
World gold prices increased due to increased investor demand for risk prevention when US President Donald Trump's tariff plan raised concerns about economic growth and inflationary pressures globally.
Investors are worried that the world is about to enter a new trade war and inflationary pressures are increasing globally. And gold is a safe asset that is favored in times of economic and geopolitical risks like today.
Currently, many financial institutions predict that the world gold price will likely reach 3,000 USD/ounce, thereby pushing the domestic gold price higher than the current level.
However, the nature of gold is to increase and decrease, so it is likely that after setting an all-time record, there will be alternating declines due to profit-taking pressure.
Domestic gold price increased by 800,000 VND/tael
Domestically, today some gold shops have listed new prices. Mi Hong gold shop, selling price of SJC gold bars is 88.5 million VND/tael, buying price is 86.8 million VND/tael, increasing 800,000 VND/tael for selling and 400,000 VND/tael for buying.
Notably, the selling price of 9999 gold at Mi Hong gold shop also increased to the same level as the price of SJC gold bars, at 88.5 million VND/tael, buying at 86.7 million VND/tael.
Bao Tin Minh Chau Company is listing the selling price of gold rings at 88.9 million VND/tael, and the buying price at 86.6 million VND/tael.
On the 6th day of Tet, gold companies and banks will reopen.
If the world gold price remains at the current level, the domestic gold price is likely to increase sharply as the God of Wealth Day (January 10) is approaching.
Please follow the domestic gold price developments here.
Source: https://tuoitre.vn/gia-vang-the-gioi-moi-ngay-lap-mot-ky-luc-moi-20250201110942133.htm
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