Updated gold price at the end of session 20.2: Breaking through the peak of 92 million VND

Updated SJC gold price

As of 6:45 p.m., the price of SJC gold bars was listed by Saigon Jewelry Company at VND90-92.3 million/tael (buy in - sell out), an increase of VND400,000/tael for both buying and selling.

The difference between the buying and selling prices of SJC gold at Saigon Jewelry Company SJC is at 2.3 million VND/tael.

Meanwhile, Bao Tin Minh Chau listed the price of SJC gold bars at 90.1-92.3 million VND/tael (buy - sell), an increase of 500,000 VND/tael for buying and an increase of 400,000 VND/tael for selling. The difference between the buying and selling prices of SJC gold was listed by Bao Tin Minh Chau at 2.2 million VND/tael.

DOJI Group listed the price of SJC gold bars at VND90-92.3 million/tael (buy - sell), an increase of VND400,000/tael for both buying and selling. The difference between the buying and selling prices of SJC gold was listed by DOJI at 2.3 million VND/tael.

9999 round gold ring price

As of 6:45 p.m. today, the price of Hung Thinh Vuong 9999 round gold rings at DOJI was listed at 90.6-92.3 million VND/tael (buy - sell); increased by 500,000 VND/tael for buying and increased by 400,000 VND/tael for selling. The difference between buying and selling is listed at 1.7 million VND/tael.

Bao Tin Minh Chau listed the price of gold rings at 90.6-92.4 million VND/tael (buy - sell); increased by 450,000 VND/tael for buying and increased by 400,000 VND/tael for selling. The difference between buying and selling is 1.8 million VND/tael.

World gold price

As of 6:45 p.m., the world gold price listed on Kitco was at 2,948.8 USD/ounce, up 9.5 USD/ounce compared to the same time of the previous session.

Gold price forecast

World gold prices increased despite the increase of the USD. Recorded at 6:45 p.m. on February 20, the US Dollar Index measuring the fluctuations of the greenback against 6 major currencies was at 106.870 points (down 0.18%).

Gold prices increased despite the US Federal Reserve (FED) reaffirming its cautious stance due to concerns about persistent inflation.

At the first meeting of 2025, the FED decided to keep interest rates unchanged and no longer showed any signs of a sharp cut as previously expected. Minutes from the January 28-29 monetary policy meeting show that the Fed may only cut interest rates once this year, with a reduction of 0.25 percentage points. The Fed had previously forecast four cuts in 2025.

Normally, when the Fed maintains high interest rates or shows a tough stance, gold prices tend to decrease due to increased opportunity costs of holding gold - a non-interest-bearing asset. However, in this case, gold prices still recorded an increase, reflecting the market sentiment being dominated by many other factors.

One of the reasons for the increase in gold prices is the fear of inflation not being completely controlled. Although the Fed admitted that inflation has cooled down compared to last year, many FOMC members still emphasized that more data is needed to confirm this trend. If inflation continues to remain high or decline more slowly than expected, gold will become an attractive defensive asset for investors.

The Fed's long-term holding of high interest rates could also increase the risk of an economic recession. High interest rates increase borrowing costs, thereby holding back economic growth and putting pressure on the labor market. In this context, investors tend to seek gold as a safe haven, supporting gold prices to increase despite loose monetary policy.

In addition to macro factors, demand for gold from central banks also plays an important role in the price increase. According to recent data, many central banks in the world, especially China, continue to buy gold to diversify foreign exchange reserves. Cash flow from investment funds also tends to return to gold as instability increases.

According to the World Gold Council (WGC), China's gold market is improving in January as the central bank also bought gold bars for the third consecutive month. The People's Bank of China (PboC) has announced a gold purchase in early 2025, up 5 tons, raising China's official gold holdings to 2,285 tons, accounting for 5.9% of total foreign exchange reserves.