Updated gold price at the end of session 21.2: Decreased, profit-taking

Updated SJC gold price

As of 6:45 p.m., the price of SJC gold bars was listed by Saigon Jewelry Company at VND89.4-91.7 million/tael (buy in - sell out), down VND600,000/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 VND89.4-91.7 million/tael (buy - sell), down VND600,000/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 2.3 million VND/tael.

DOJI Group listed the price of SJC gold bars at VND89.4-91.7 million/tael (buy - sell), down VND600,000/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 90-91.7 million VND/tael (buy - sell); down 600,000 VND/tael for both buying and 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 90.05-91.8 million VND/tael (buy - sell); down 550,000 VND/tael for buying and down 600,000 VND/tael for selling. The difference between buying and selling is 1.75 million VND/tael.

World gold price

As of 6:45 p.m., the world gold price listed on Kitco was at 2,934.1 USD/ounce, down 14.7 USD/ounce compared to the same time of the previous session.

Gold price forecast

World gold prices fell amid an increase in the USD. Recorded at 7:45 p.m. on February 21, the US Dollar Index measuring the fluctuations of the greenback against 6 major currencies was at 106,600 points (up 0.32%).

Gold prices were under pressure as the US Federal Reserve (FED) reaffirmed 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.

Some experts believe that this precious metal has decreased in price due to profit-taking waves as prices increase. It is worth mentioning that the decline is unlikely to last as investors will often buy at low prices.

Commodity analysts at Metals Focus said they expect gold prices to reach a high of $3,000/ounce in the second quarter of this year, but they note that there is still a risk of taking profits in the short term. This expert noted that the US monetary policy and the strength of the USD have become a secondary factor for gold.

"Gold's strength this year has been largely due to increased economic uncertainty and to some extent political instability, related to the policies of the new US administration, especially the strategy related to widespread tariffs," analysts said.