Updated gold price at the end of session 17.2: Domestic gold increased

Updated SJC gold price

As of 7:15 p.m., the price of SJC gold bars was listed by Saigon Jewelry Company at 87.6-90.6 million VND/tael (buy in - sell out), an increase of 300,000 VND/tael for both buying and selling.

The difference between the buying and selling prices of SJC gold at Saigon Jewelry Company SJC is at 3 million VND/tael.

Meanwhile, Bao Tin Minh Chau listed the price of SJC gold bars at 87.6-90.6 million VND/tael (buy - sell), an increase of 300,000 VND/tael for both buying and selling. The difference between the buying and selling prices of SJC gold was listed by Bao Tin Minh Chau at 3 million VND/tael.

DOJI Group listed the price of SJC gold bars at 87.6-90.6 million VND/tael (buy - sell), an increase of 300,000 VND/tael for both buying and selling. The difference between the buying and selling prices of SJC gold was listed by DOJI at 3 million VND/tael.

9999 round gold ring price

As of 5:45 p.m. today, the price of Hung Thinh Vuong 9999 round gold rings at DOJI was listed at VND89.1-90.6 million/tael (buy - sell); increased by VND800,000/tael for buying and increased by VND300,000/tael for selling. The difference between buying and selling is listed at 1.5 million VND/tael.

Bao Tin Minh Chau listed the price of gold rings at 89.15-90.6 million VND/tael (buy - sell); increased by 700,000 VND/tael for buying and increased by 300,000 VND/tael for selling. The difference between buying and selling is 1.45 million VND/tael.

World gold price

As of 5:45 p.m., the world gold price listed on Kitco was at 2,898.8 USD/ounce, up 16.4 USD/ounce compared to the same time of the previous session.

World gold prices increased despite the increase of the USD. Recorded at 5:50 p.m. on February 17, the US Dollar Index measuring the fluctuations of the greenback against 6 major currencies was at 106.650 points (up 0.07%).

Gold price forecast

Kitco senior analyst Jim Wyckoff predicts gold prices will continue to increase in the short term. Gold prices are rising due to safe-haven demand and positive technical signals, he said.

Bob Haberkorn - senior commodity broker at RJO Futures, said that although the US retail sales report released last Friday morning caused gold prices to fall, in fact gold has weakened before due to geopolitical factors.

Even before the release of US retail sales data, information about the likelihood of a peace deal in Ukraine had weakened gold since last night. After that, as retail sales fell sharply, the market became more confident that the Fed would not cut interest rates in March, leading to a slight adjustment.

However, it is worth noting that from what I hear and observe in the market, investors are still waiting patiently to buy. There was almost no selling pressure. I don't even see where traders sell them," he said.

Im hearing a lot of predictions for $4,000 an ounce in the future. People don't mention it as much as other developments, but with the golden returning speed we are witnessing, this scenario is entirely possible. Next month will be an exciting time for gold.

Let's wait and see how quickly the price can increase. With the current situation, I think gold will reach $3,000/ounce. That could happen in the first or second quarter of 2025. A lot of people are excited about gold, and Friday's correction is an opportunity to buy gold, Haberkorn added.

As one of the few experts who are neutral on gold this week, Colin Cieszynski - market strategist at SIA Wealth Management said: "Gold has increased strongly in recent times, and technically, it may need a correction to consolidate the increase. In addition, there will be a long holiday next week, so the market will trade less.