Gold price update on the morning of February 19: Breakthrough before the wave of buying

Updated SJC gold price

As of 6:00 a.m., the price of SJC gold bars was listed by Saigon Jewelry Company at VND 88.6-91.1 million/tael (buy - sell), an increase of VND 1 million/tael for buying and VND 500,000/tael for selling.

The difference between the buying and selling prices of SJC gold at Saigon Jewelry Company SJC is at 2.5 million VND/tael.

Meanwhile, Bao Tin Minh Chau listed the price of SJC gold bars at 88.6-91.1 million VND/tael (buy - sell), an increase of 1 million VND/tael for buying and an increase of 500,000 VND/tael for selling. The difference between the buying and selling prices of SJC gold was listed by Bao Tin Minh Chau at 2.5 million VND/tael.

DOJI Group listed the price of SJC gold bars at 88.6-91.1 million VND/tael (buy - sell), an increase of 1 million VND/tael for buying and an increase of 500,000 VND/tael for selling. The difference between the buying and selling prices of SJC gold was listed by DOJI at 2.5 million VND/tael.

9999 round gold ring price

As of 6:00 a.m. today, the price of Hung Thinh Vuong 9999 round gold rings at DOJI was listed at VND89.6-91.1 million/tael (buy in - sell out); increased by VND500,000/tael for both buying and 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 89.6-91.1 million VND/tael (buy - sell); increased by 450,000 VND/tael for buying and increased by 500,000 VND/tael for selling. The difference between buying and selling is 1.5 million VND/tael.

Normally, domestic gold trading units start trading from 8:30 am to 9:00 am every day, so the official price in the session will be adjusted. In the context of strong increases in world gold prices, domestic gold may continue to be adjusted upward.

World gold price

As of 5:40 a.m. on February 19, the world gold price listed on Kitco was at 2,935.4 USD/ounce, up 37.1 USD/ounce.

Gold price forecast

World gold prices increased despite the increase of the USD. Recorded at 5:40 a.m. on February 19, the US Dollar Index measuring the fluctuations of the greenback against 6 major currencies was at 106.940 points (up 0.34%).

Gold and silver prices increased sharply in the trading session last night. Gold prices have approached a record high. According to Kitco, the buybacks due to safe-haven demand and technical factors pushed up the prices of the two precious metals as the US market entered a short trading week due to the holiday.

The Trump administration "continues to cause many fluctuations domestically and globally, leaving the market uncertain, especially in terms of US trade and tariff policies" - Jim Wyckoff - senior analyst of Kitco said.

Gold futures for April increased by 48.7 USD to 2,949.3 USD/ounce. The March silver contract increased by 0.5 USD to 33.355 USD/ounce.

Gold futures for April terms are in a strong uptrend and buyers are currently dominating. Their next target is to push prices above the important resistance level of $3,000/ounce.

On the contrary, the sellers will try to pull the price below the strong support level at 2,800 USD/ounce. In the immediate future, gold needs to overcome the resistance level of 2,952.6 USD/ounce, then reach the peak of the contract at 2,968.5 USD/ounce. On the other hand, the most recent supports were at $2,925/ounce and $2,900/ounce.

Key outside markets today saw Nymex crude oil futures also increase slightly, trading around $71.5/barrel. The yield on the 10-year US Treasury note is currently around 4.52%.